Tesla’s SolarCity falls behind as financier for installations

Solar panels
Solar panels could become more common because of hurricanes.

Solar installations have fallen off for SolarCity since Tesla bought the company and rival Sunrun is about to take over as the nation’s top third-party solar financier.

A new report by Greentech Media comes to┬áthat conclusion. Laying out the case that Sunrun has seen steady growth while Solar City and others have struggled. Here’s Greentech Media:

It’s been a tumultuous year for the residential solar industry. Three of the largest installers, including NRG Home Solar, Sungevity and Direct Energy Solar, have gone bankrupt or exited the residential space.

Since struggling SolarCity was acquired by Tesla, its residential business has dwindled. But Sunrun, which has seen moderate and consistent deployment growth over the last few years, filled the gap. It shows that struggles in the residential solar industry may stem from company-specific failings, rather than industry-wide forces.

As a residential lease and PPA provider, we know from Q3 earnings presentations that Sunrun has already surpassed SolarCity based on capacity financed so far in 2017.

The changes come as SolarCity has struggled in oversaturated markets and pivoted away from door-to-door sales to a digital sales model. Sunrun is a contrast to other major solar companies:

Unlike its largest competitors, Sunrun has seen customer-acquisition costs come down in recent quarters. And unlike SolarCity and Vivint Solar, Sunrun services the market through its direct installation business and through leases and PPAs delivered via its dealer network. By utilizing a dealer network to deploy systems, Sunrun is able to grow alongside the long tail of installers.

Whether you’re considering a solar installation or more traditional offering, David Bange Roofing is your best bet.

We nurture relationships with the industry’s top manufacturers and have expanded to include solar roofing installation through RISE. We also offer insurance claims assistance to our customers because we know that suffering storm damage is challenging enough without the paperwork.

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