Solar Love
  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls

Solar Love

  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls
Market ResearchPVRooftop SolarSolar ModulesSolar PolicySolar Research

REC Now #3 In US Residential Solar Market

by James Ayre September 6, 2015
written by James Ayre September 6, 2015
REC Now #3 In US Residential Solar Market

The Norwegian company REC Group is now the third-biggest solar photovoltaic (PV) module supplier in the US residential market, according to recent reports.

This follows a 5-fold increase in market share over the last year — following the imposition in the US of duties on Chinese solar PV providers. The company is reportedly expecting that its market share will continue increasing notably over the rest of 2015.

REC Group

The company — which utilizes vertically integrated PV manufacturing facilities in Singapore — currently possesses a ~14% market share (up from a 2.7% market-share in Q1 2014). The company is also the top solar PV supplier in the Californian market, which makes sense considering the direct shipping routes from Singapore.

“(The trade rulings) certainly did not have a negative impact on our business,” stated REC Senior VP and Managing Director Arndt Lutz in a recent interview. “It opened the door for some of our customers that we were working with.” (You might say it was about “picking winners and losers,” of which Chinese companies were the losers.)

While some of the top solar leasing/sales companies in the US (SolarCity, Sunrun) are customers of REC, the company’s customer base is apparently much more diverse.

“We know all the big solar residential installers and have worked with them,” stated Lutz.

The company’s relatively new TwinPeak offering shows that part of the recent success has been down to technological changes as well — as the offering was a winner of the recent Intersolar Award in the Photovoltaics category. It offers 15–20 watts of generation capacity more than most similarly priced multi-crystalline modules.

According to Lutz, the aim is for TwinPeak to comprise roughly half of the company’s offerings into the US residential market for the time being. As of the second quarter of 2015, around 50% of the company’s business is now in the US.

Regardless of REC’s ability to capitalize on the recent tariff imposition, the two top companies in the US residential market are still Chinese ones — Canadian Solar and Trina Solar.

RECUS
0 comment
0
FacebookTwitterPinterest
James Ayre

's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy. You can follow his work on Google+.

previous post
Southern Company Acquires Controlling Interest In 300 MW Desert Stateline Solar Project
next post
SolarCity’s Shockingly High MyPower Prices

You may also like

India’s NTPC Offers Solar Project Management Services To...

June 9, 2019

Neighborhood Power Installing 10 Megawatt Solar Bifacial+Tracker Project...

November 20, 2018

EDF Renewables Commissions 110 Megawatts Of Solar In...

October 30, 2018

Maui Switches On Another 2.87 Megawatts Of Solar...

October 8, 2018

Capital Dynamics Acquires 121 Megawatt Springbok 3 Solar...

September 27, 2018

EnSync Energy Sells CAL FIRE Solar PPA Project...

August 20, 2018

India Plans 20 Gigawatt Solar Tender To Circumvent...

May 16, 2018

California Solar Mandate Bumps Solar Forecast By 14%...

May 14, 2018

India, WTO Members Spar Over Safeguard Duties On...

May 10, 2018

India Sees Highest-Ever Quarterly Solar Addition

April 30, 2018

Follow Me

Facebook

Recent Posts

  • Meet PVCase: A 3D Solar Design Software That Every PV Designer Should Consider

    June 12, 2019
  • Mitsui To Partner With Indian Company For Distributed Solar Projects

    June 10, 2019
  • India’s NTPC Offers Solar Project Management Services To ISA Members

    June 9, 2019
  • Equinor & Scatec Solar Complete 162 Megawatt Brazilian Solar Plant

    November 29, 2018
  • Gamesa Awarded 400 Megawatt Solar Project In Egypt

    November 29, 2018
  • Facebook

@2019 - All Right Reserved solarlove.org


Back To Top