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May 27, 2024

Commercial Solar Is On The Rise

August 11, 2016

Category: news

 Solar Field  

According to a new report by GTM Research, the U.S. Commercial solar market is set to grow by 30% in 2016. The report also highlights that the U.S. commercial market will reach 3.0 gigawatts of solar power by 2020, amounting to a market size of roughly $3.8 billion.

While reaching these target's will be a large milestone for the commercial solar market, 3.0 gigawatts only accounts for a fraction of the total potential market size. With a total of 5.6 million commercial buildings in the U.S. per the EIA Commercial Buildings Energy Consumption Survey, the commercial solar market is remarkably untapped.

The reason, as GTM Research's Senior Solar Analyst, Nicole Litvak points out œThe fragmented commercial developer landscape is largely the result of bottlenecks in the customer origination process that make it difficult for any individual player to consistently grow." Making the case that there are no dominant players in the commercial solar market driving overall market growth.

The report identifies that the top 10 commercial solar developers currently account for 42 percent of the U.S. commercial solar market, where in contrast to the residential market where just the top 3 solar developers account for nearly half of all residential solar installations.

While this may be the case now, it's only a matter of time before there is a nationwide commercial solar energy developer who cracks the code, and we have an idea of what solar company this might be.

 

 

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