Solar Love
  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls
  • Related Pages
    • Energy Seek: Business Electricity Prices
    • Energy Seek: Compare Business Gas
    • Energy Seek: Compare Energy Suppliers
    • OVO Energy: Energy Efficient Cooking
    • EDF Energy: Energy Efficient Lighting
    • Constellation: Energy Efficient Air Con

Solar Love

  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls
  • Related Pages
    • Energy Seek: Business Electricity Prices
    • Energy Seek: Compare Business Gas
    • Energy Seek: Compare Energy Suppliers
    • OVO Energy: Energy Efficient Cooking
    • EDF Energy: Energy Efficient Lighting
    • Constellation: Energy Efficient Air Con
InvestmentPVRooftop SolarSolar $

SolarCity Could Install 1 GW Of Rooftop Solar In 2015

by Steve Hanley May 13, 2015
written by Steve Hanley May 13, 2015
SolarCity quarterly sales chart

A recent report from SolarCity says it is on track to install more than 1 gigawatt of rooftop solar in 2015. The company reported installations of 153 megawatts during the first quarter 2015, beating its own forecast of 145 megawatts. That compares to 176 megawatts in the fourth quarter of 2014. Installations are up 87% from a year ago.

SolarCity quarterly sales chartThe company has set a target of 1,000,000 customers by the middle of 2018. With more than 218,000 customers at the end of the 2015 first quarter, it has achieved more than 20% of that goal. Getting there will require an annual growth rate of 60%. SolarCity has achieved an actual annual average growth rate of 95% since 2012.

With a target of adding 1 megawatt of new solar capacity in 2015, the company is already well on its way to meeting or exceeding that goal. It booked 237 megawatts of new installations in the first quarter. That’s up 74% compared to last year. Meanwhile, first quarter revenue totaled $67.5 million, up 6% compared with the first quarter of 2014. Of significance to investors, the company showed a loss in the first quarter of $21.5 million. That’s a sizable drop from a loss of $147 million in the same period last year.

The cost of installing photovoltaic panels was $2.95 per watt in the first quarter. That is up 3% from prior quarters, due largely to the rigors experienced by crews during an unusually long and harsh winter. Nonetheless, that figure is down 9% from the same period last year. SolarCity has reiterated its advice to investors that it expects to install 920 to 1,000 megawatts of rooftop solar in 2015.  Second-quarter revenue is expected to be between $86 million to $92 million.

SolarCity is the largest rooftop solar company in the United States. It’s chairman, Elon Musk, is also the CEO of Tesla Motors and SpaceX. It has pioneered many of the market innovations, such as no-money down leasing, that have driven the explosive expansion of rooftop solar in America.

SolarCity
0 comment
0
FacebookTwitterPinterest
Steve Hanley

writes about the interface between technology and sustainability from his home in Rhode Island. You can follow him on Google + and on Twitter.

previous post
MIT Report: Today’s Solar Panels Fine For Tomorrow’s Needs
next post
Pakistan’s House of Parliament Is Going Solar

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

Solar Bids In India Decline After Duty Reprieve

May 16, 2018

India Plans 20 Gigawatt Solar Tender To Circumvent...

May 16, 2018

Invenergy Signs PPA With Georgia Power For 160...

May 14, 2018

India’s Largest Solar Cell Manufacturer Charts Aggressive Growth...

May 10, 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