SolarCity loses ground due to Tesla — and other solar providers are grateful
Los Angeles — After years of double-digit growth, home solar installations in the US are poised to fall for the first time this year, according to a report released on Thursday by GTM Research. The reason? An analysis of installation data suggests that most of the slowdown is traceable to a single company: Tesla, which acquired sister company SolarCity about a year ago. For years, SolarCity, with early backing from Tesla CEO Elon Musk, was the biggest player in residential solar and the driving force behind that market’s supercharged growth. When Tesla bought SolarCity last year, Musk called the acquisition a "no-brainer", saying the two companies shared "the same over-arching goal of sustainable energy". But under Tesla’s ownership, the company has largely stopped its aggressive marketing campaigns and ambitious expansion.
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