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Sungevity

Top 10 Solar Panel Installers

by Jake Richardson May 18, 2016

These top 10 lists are a little peculiar sometimes because one might conclude that they are objective. However, while they can appear to be that way, they are usually more subjective, based in assessments conducted by particular websites or publications. Depending on which criteria are used, their results might not be what you need or want. So, in order to determine which solar installer might work for you, it could be helpful to compare lists of top solar panel installers.

solarpanels2 To that end, let’s look at a list (from GTM Research) which placed SolarCity, Vivint Solar, Sungevity, Sunrun, and Verengo Solar in the top five. According to this source, they made the top five because they installed the largest percentages of rooftop solar power systems — half or more of all solar panels in the US for the year 2014.

SolarCity had 34% of installations, Vivint Solar had 13%, Sungevity with 3%, Sunrun with 2%, and Verengo Solar with the same as Sunrun.

A 2015 list showed a similar split but some notable changes:

SolarCity 34.1%
Vivint Solar 11.6%
Sunrun 2.6%
NRG Home Solar 2%
Sungevity 1.9%

However, SolarCity has a leasing- and PPA-focused model. With leases and (power purchase agreements) PPAs, SolarCity owns the solar power systems, and the homeowners get some portion of the electricity. If you want to own our home solar power system, they also can make arrangements for that, but it is a small part of the company’s business and apparently not the most attractive option for home solar loans. Also, SolarCity’s prices are reportedly much higher than the competition’s.

Vivint Solar has a similar service, but they just offer PPAs where they own the home solar power system, and the homeowner agrees to pay for electricity generated by it and a certain rate for a specified period of time.

The reason that SolarCity and Vivint have installed so many more solar panels is that their services typically have low or no upfront costs. This kind of service is much cheaper initially compared with the cost of installing a home solar power system that a homeowner will own and maintain. It is only reasonable that cost-constrained homeowners who are trying solar power for the first time might want to choose a system that is very low or no upfront cost, rather than paying over $10,000 or more for their own home solar system, or applying for a loan for one.

So, yes, SolarCity and Vivint are top installers of solar panels, but they own those systems once they have been installed. The technology is the same, but the relationship with the homeowner is different. Also, if you own your own home solar power system, you have control over it and you actually could make money in the long-term. So, the fact that SolarCity and Vivint have installed far more solar panels than their competitors might make them see far and away the best, but one of the reasons they are so far ahead is the greater affordability of leasing or PPAs—not necessarily because they are superior installers or offer a much better product. Their installations and products may (or may not) be very good, but that’s not really the point.

SolarCity and Vivint Solar have also seemingly had more effective marketing and financing arrangements.

The installers lower on the list may offer the same quality of installation and products, but they may have been less popular because they don’t offering leasing or PPA. Alternatively, they may be focused on smaller markets.

This consideration is something to keep in mind when researching solar power options for you home. In other words, popularity may sway some people’s decision-making in a direction that isn’t beneficial.

Leasing might appeal to many, but when you lease, you typically don’t own the system, and you generally give away some of the potential financial benefit. If you are energy-conscious and own your system you might generate more electricity than you consume, which you could sell back to the utility, if net metering is available where you live. Also, if you own your own home solar system, you will probably be eligible to receive some incentives, so the net price of that system will be reduced for you.

Of course, it matters very much that you understand the difference between owning your own home solar power system, leasing, and signing a power purchase agreement.

Solar Power World’s Top 10

Solar Power World published its own top 10 residential solar contractors (installers) list and includes some that GTM research did not. Check out the top 10:

1. SolarCity
2. Vivint Solar
3. Sunnova
4. RGS Energy (Real Goods Solar)
5. Solar Universe
6. Bland Solar & Air
7. Amergy Solar
8. Smart Energy Solar
9. KDH Solar
10. Direct Solar Energy

1. SolarCity is located in San Mateo, California, and has about 10,000 employees. It installs solar power systems, but the homeowners often don’t own them — they lease them (or buy the electricity from them) from SolarCity, presumably for a lower price than they’d buy electricity from the grid. It makes sense that SolarCity is a leader, because its customers have very little in upfront costs and the company had a lot of financial support to grow quickly and establish strong relationships with bankers & financiers. This company is well known for its association with Elon Musk, chairman of the company and cousin to founders & CEO + CTO Lyndon Rive & Peter Rive. SolarCity operates in: Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Maryland, Massachusetts, New Hampshire, Nevada, New Hampshire, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Texas, Vermont, and Washington DC.

2. Vivint Solar is located in Lehi, Utah, and it has a similar kind of service provided by SolarCity, except that it typically uses power purchase agreements (which SolarCity sometimes uses) instead of leasing. Also, it goes door to door to get customers, and its larger parent company sells various other home products, like alarm systems. Vivint has about 3,200 employees and has installed 228 MW of solar panels. Vivint Solar currently operates in: Arizona, California, Connecticut, Hawaii, Maryland, Massachusetts, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, Utah, and Washington DC.

3. Sunnova is located in Houston, TX. This company offers the ability for a homeowner to own his or her own system, sign a power purchase agreement, or get a solar lease. Sunnova operates in Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Indiana, Louisiana, Maryland, Massachusetts, Missouri, New Jersey, New Mexico, New York, Oregon, and Pennsylvania.

4. RGS Energy (Real Solar Goods) is located in Louisville, Colorado. It offers solar leases, service agreements, and home solar systems for purchase. It operates in California, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont.

5. Solar Universe is located in Livermore, California. It offers $0-down solar financing when installing home solar systems, or fully prepaid solar contracts. It operates in Arizona, California, Hawaii, Louisiana, Maryland, Massachusetts, Nevada, New Jersey, New York, Oregon, Pennsylvania, and Puerto Rico.

6. Bland Solar & Air is based in Bakersfield, California. It installs solar power systems, but has expertise with air conditioning as well. It recommends using the nonprofit Educational Employees Credit Union for financing (getting a loan) if one isn’t able to or doesn’t want to self-finance the project. “Educational Employees Credit Union offers a number of Energy Efficiency Loan choices, including a $0 down payment option,” the company writes.

7. Amergy Energy is a New Jersey–based company. It installs, finances, and leases solar power systems for homes, businesses, and nonprofit organizations. It operates in California, Massachusetts, New Jersey, and New York.

8. Smart Energy Solar is located in Corona, California. It has installed thousands of solar systems, including solar PV, solar hot water heaters, and solar pool heating.

9. KDH Solar is located in New Orleans, Louisiana. It installs both residential and commercial systems.

10. Direct Energy Solar is located in Annapolis, Junction. It is focused on residential solar power systems.

Another consideration when choosing a solar power installer is what role they play in your community. Some consumers like to support local businesses and others don’t care. Some also like to support local people they know or their family or friends have some connection with, because the business transaction is more personal in nature. Others don’t care about the personal side, and only want affordability and quality service.

Yet another point to reflect on is whether or not a top 10 list means much to you, because it might hit some of the generic points, but ultimately your decision is your own, and you need to have some sense that it is the right decision, not merely the result of having found some information. If your local solar panel installer is not on any top 10 lists, they may still be very effective and you would determine that by researching them carefully. You can see from the GTM Research ranking above that about 50% of the solar power installed on rooftops is installed by a company with less than 2% market share.

We encourage people to get as many solar quotes as possible (they’re always free): from Cost of Solar, Pick My Solar, EnergySage, Google’s Project Sunroof, and anyone else you can find.

Also, some people don’t even choose a solar panel installer, because they have a DIY mentality and they install their own solar panel systems. These people are currently in the minority, but that may change over time if installing systems becomes easy enough.

We are still in the infancy of solar power in the US, with just over 1% of our total electricity generated by it. Things will change as it grows, including the “technical” knowledge of everyday people.

Image Credit: AleSpa (CC BY-SA 3.0 license)

May 18, 2016 0 comment

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Top 10 Solar Power Companies, & Top 5, & Top 10 Again

by Jake Richardson May 18, 2016

written by Jake Richardson

When you ask who the top solar power companies are, you will probably want to distinguish between residential installers and solar panel manufacturers. Solar power generally is thought of as home solar power, though utilities and businesses also are investing in it. This article looks at the top residential solar contractors / residential solar installers as well as the top American solar panel manufacturers.

According to Solar Power World Online, the top solar residential contractors are:

1. SolarCity
2. Vivint Solar
3. Sunnova
4. RGS Energy (Real Goods Solar)
5. Solar Universe
6. Bland Solar & Air
7. Amergy Solar
8. Smart Energy Solar
9. KDH Solar
10. Direct Solar Energy

However, this doesn’t really cover the full story. GTM Research’s US residential installer leaderboard for the end of 2015 was as follows for the top 5:

SolarCity 34.1%
Vivint Solar 11.6%
Sunrun 2.6%
NRG Home Solar 2%
Sungevity 1.9%

Clearly, the two rankings look at different matters and come to different results. Anyhow, diving into the companies in the GTM Research ranking, here’s a bit more info from Solar Love:

3. Sunrun was one of the first companies to offer solar leasing, but it also offers systems via loans and cash purchases now. It is based in California, but is now working in the following states: Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, and South Carolina.

4. NRG Home Solar is a subsidiary of energy giant NRG. Like the companies above, its main pitch is $0-down solar leasing. It doesn’t yet seem to offer solar loans like the other companies above. In a market that is shifting back toward straight purchases and loans, it seems NRG Home Solar will have to broaden its offering in order to remain competitive for long. NRG Home Solar operates in: California, Connecticut, Maryland, Massachusetts, Minnesota, New Jersey, New York, and Texas.

5. Sungevity, based in Oakland, California, also has a long history in solar leasing, but it offers solar power installations via solar loans and cash purchases as well. Sungevity CEO Andrew Birch has said the company was agnostic regarding financing, agreed the shift is going back toward system purchases, and is typically keen to highlight Sungevity’s competitive advantages from its iQuote system, which provides a solar power quote using satellite technology quickly and remotely, and “also provides customers with dedicated project managers so that they don’t have to go through any automated customer support or deal with different people (who need to be caught up on their project) every time they call or email.” Sungevity operates in: California, Colorado, Connecticut, Delaware, Maryland, Massachusetts, New Mexico, New Jersey, New York, North Carolina, Rhode Island, Vermont, and Washington DC.

Regarding the remaining companies from the Solar Power World Online ranking, here’s a little more info:

8. Smart Energy Solar is located in Corona, California. It has installed thousands of solar systems, including solar PV, solar hot water heaters, and solar pool heating.

9. KDH Solar is located in New Orleans, Louisiana. It installs both residential and commercial systems.

10. Direct Energy Solar is located in Annapolis, Junction. It is focused on residential solar power systems.

Solar panel installers typically don’t make their own solar panels, they install panels made by manufacturers. SolarCity is going to be making its own solar panels and installing whole systems, so it is the exception.

Is there any advantage to a solar panel installer making its own technology? It might be that there could be better communication about the solar panels with the installers, if it comes from within the same company. It also might be easier to get defective panels replaced if there is better communication, rather than one company trying to communicate with another. Additionally, vertical integration like this could bring down costs. The downside would be if these in-house solar panels ended up being more expensive and the company was tied to using them.

Also, if the installer makes solar panels in the same country, communication may be enhanced because there is no cross-culture or cross-language issues. However, because of globalization, international business is common now, so cross-cultural situations might not be an issue.

Another consideration is that some consumers like to support companies based in their own countries. In this case, an American home or business owner who wants to invest in solar power might consider working with a company like SolarCity, or try to locate solar panels made in America by a company like SunPower.

Obviously, solar panels need to be manufactured before they can be installed, and fortunately, a number of American companies make them.

Top American Solar Panel Manufacturers

1. First Solar has its headquarters in Tempe, Arizona, and has solar panel manufacturing sites in the US, Germany, and Malaysia.

2. SunPower has its headquarters in San Jose, California, and manufactures panels in the US and the Philippines.

3. SolarWorld has its US headquarters near Portland (it is originally a German company) and most of its manufacturing is done in Germany.

4. SolarCity is based in San Mateo, California, and it is working to build a very large solar panel manufacturing site in New York state.

5. Suniva has its headquarters in Atlanta, Georgia, and manufacturing sites in Michigan and Georgia. It was founded in 2007.

While it is important to know the names of these companies, their locations, and what they provide, there is something of equal importance that doesn’t get talked about enough, or at all. These solar power companies are accomplishing something important for the country—they are helping the United States very gradually shift away from fossil fuel use to clean, renewable energy.

There are a raft of benefits linked with solar power: it’s better for climate change, reduces harmful air pollution, and is better for the national economy because it reduces reliance on imported fossil fuels. Eventually, all coal mining and burning might also be eliminated, and coal mining clearly is very unhealthy for mine workers. Sometimes it is fatal. Making and installing solar panels is relatively safe, so it is better for American workers.

Solar power creates a lot of jobs, and more solar jobs are expected to be added in the US in 2016 than oil-related jobs.

The solar power trend is taking off and it is has never been more affordable. Though, many of us may not be aware of how much solar power prices have fallen. American solar power companies have accomplished a lot so far, and yet they are poised to do much more. At the same time, they seem to have been given almost no credit for their achievements. Currently, the US gets less than 2% of its electricity from solar power, but that figure is set to increase as solar companies continue to install more and more of it. Also, the costs are dropping, so solar power is becoming more accessible all the time. Additionally, the costs will most likely continue to decrease and demand will likely grow. So, solar power is going to be a bigger part of the American energy future.

Image Credit: CHAK 001, (Creative Commons BY 3.0)

May 18, 2016 0 comment

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$25.3 Billion For Corporate Solar Sector Funding In 2015

by Jake Richardson January 13, 2016

written by Jake Richardson

According to a report from Mercom Capital Group, the amount of global corporate funding in the solar sector in 2015 was $25.3 billion. This figure was down slightly from $26.5 billion in 2014. Some of funding sources were: debt financing, public market financing, yieldcos, and venture capital/private equity (VC).

“Overall it was a good year for the solar sector considering the turbulence in the stock markets and trouble with yieldcos in the 2nd half of the year. The extension of the Investment Tax Credit (ITC) was a much needed boost for the sector, paving the way for a strong 2016,” explained Raj Prabhu, CEO of Mercom Capital Group.

So where did the money go?

Debt financing was linked with $18.3 billion and Solar City, AES, BBOXX, and Sunrun are examples of companies with securitization deals. Large-scale project funding accounted for about $11.6 billion and 6.6 GW of solar power capacity. There were 38 public market financing deals and they raised almost $6 billion.

$727 million of the $1 billion raised by venture capital went to solar downstream companies. Over $170 million went to PV technology companies and $87 million went to “Balance of Systems” companies.

One of the more fascinating developments was that over $100 million was for off-grid markets in India, Africa, and South Asia.

Some of the top venture capital deals in 2015 were:

$300 million, Sunnova Energy
$105 million, Silicor Materials
Sunlight Financial, $80 million
Sungevity, $50 million
Conergy, $45 million.

The facts produced by the report are intriguing because they show that the solar power industry is doing well, though economic conditions are still challenging overall. Imagine if there had been no global recession in 2008 and for the last 8 years solar power had been able to grow in an unimpeded way.

The Investment Tax Credit was recently renewed in the United States, but if there had been no concern or uncertainty about its renewal, would the solar power industry have experienced no cause for pause?

It seems that solar power will continue to expand because of its own robustness and as the global economy becomes more welcoming to it.

Image Credit: vinaykumar8587, Wiki Commons

January 13, 2016 0 comment

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Cheapest Solar Panels? Google’s Project Sunroof Partners Compete For Your Signature

by Jake Richardson December 2, 2015

written by Jake Richardson

As we wrote months ago when it launched, Google has a free online service that uses its mapping information and partner offers from solar installers to try to hook you up with the cheapest solar panels on the market — by providing fast estimates of how much a homeowner might save by investing in a solar power system from various solar companies. Dubbed “Project Sunroof,” it also provides information on things like the number of square feet available for solar panels on your roof based on 3D modeling, the number of hours of usable sunlight per year based on weather pattern analysis, net savings over 20 years, an average monthly electric bill, and recommended solar power system size.

Currently, the Google service can provide information in the Boston area, the San Francisco area, Fresno, Napa, Sacramento, and Long Island. Partners for the project were not initially listed in the press releases, blog posts, and media coverage, so we decided to dig in and see who they are. Seeing offers from SunPower, American Solar Direct, Pick My Solar, Sungevity, SunEdison, NRG Home Solar, we can see that these are the highly regarded solar companies Google decided to partner with (in the initial San Francisco area where I live, at least).

Providing this information for free is a great service, because it brings rapid clarity to those who are curious or interested but don’t know how to gather basic information about what kind of solar power system might work with their home and how much they could save by going solar.

For example, do you know the square footage of your roof? Everyone knows how much they pay for their electricity each month, but you also know what size solar power system would cover your electricity usage?

December 2, 2015 1 comment

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Sungevity Enters Tricky North Carolina Residential Solar Market — First National Solar Company To Do So

by James Ayre February 19, 2015

written by James Ayre

Those in North Carolina interested in dealing with a nationally recognized brand when going solar now (finally) have that option, thanks to the recent announcement that Sungevity is entering the market there.

The move represents the first time that a large, nationally recognized residential solar energy provider will operate in the coastal state. The move is also notable for the fact that North Carolina law actually requires homeowners to own the source of renewable energy that’s on their property — thus precluding the solar lease option that Sungevity is perhaps best known for.

As a result of this, Sungevity is launching a new, created-specifically-for-North-Carolina solution to offer potential customers in the state.

A recent email sent to Solar Love explains the specifics:

In order to equip North Carolina residents with the ease and affordability of the Sungevity solar experience, the company partnered with leading solar energy investment platform Mosaic to create a loan product specifically designed for state residents. The 20-year loan is structured to help residents take advantage of both the 35% state income tax credit and the 30% federal renewable tax credit for solar customers. The entire process is facilitated via Sungevity’s online platform, where North Carolina homeowners can access estimated energy savings specific to their homes via the company’s proprietary iQuote technology.

“Sungevity has always focused on making the solar experience simple and satisfying for our customers. That’s why we crafted a solution that allows North Carolina homeowners to experience the benefits of solar without the hassle or a high upfront payment,” explained Andrew Birch, Sungevity’s Chief Executive Officer (CEO). “Sungevity is proud to serve North Carolina as we continue to expand across the country to give more people a better choice in how they power their homes.”

Owing to Sungevity’s partnership with home improvement mammoth Lowe’s, some of Sungevity’s offerings will be available via the company’s retail stores throughout Raleigh, Durham, and Chapel Hill.

With the entry into the North Carolinian market, Sungevity now operates in 12 states + the District of Colombia. The company also operates internationally in the Netherlands, and in Australia.

Image Credit: Sungevity

February 19, 2015 0 comment

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Sungevity Expands Into New Mexico and Vermont

by Jake Richardson August 7, 2014

written by Jake Richardson

Residential solar provider Sungevity, Inc, headquartered in Oakland, CA, has announced that it has expanded its solar services into New Mexico and Vermont. This expansion mirrors the general growth trend for solar in the United States. In fact, Sungevity was ranked the third most productive residential solar installer in America, by a GTM Research report.

Sungevity was kind enough to answer some questions for this article. Have a look and drop more questions in the comments if you have more.

1. Why did you choose to expand into New Mexico and Vermont and which states might you add next?
New Mexico and Vermont have the right business environment for solar — electricity prices are high, net metering policies are good, and adoption rates have been strong, among other things. And while they lack the solar name recognition and big influence of California, the leading solar market, it’s Sungevity’s mission to make solar an easily accessible, affordable, and enjoyable experience for as many people as possible.

2. With your instant online quoting technology, how long does it take to get a quote?
With our proprietary online iQuote technology, homeowners can get a solar quote within hours and a dedicated Sungevity representative takes the time to answer any questions that consumers have. We take care of all the complicated backend issues to getting a system on your rooftop and interconnecting the system with your utility, so you can experience the benefits of clean, green solar energy.

3. How do consumers sign up for the Sierra Club donation and discount?
Customers can go solar through Sungevity and the Sierra Club by visiting sierraclub.org/solarhomes and requesting an iQuote. The URL will tag the customer as a Sierra Club supporter and the $750 discount and donation gets automatically saved in our system and communicated to the customer’s sales rep. The donation goes directly to the local Sierra Club chapter so that the money is benefitting initiatives in the state where an individual lives.

4. Are there similar deals with other non-profits?
Our Sungevity.org program has over 100 non-profit partners and has helped raise over $1.5M to date, since we launched it over 3 years ago.

5. Do your own employees get discounts on home solar if they sign with Sungevity?
We pride ourselves on providing our customers with the best experience in the industry, including a great rebate program. If our employees go solar, they in turn become customers and get the same great experience.

“Our partnership with Sungevity allows our members to take personal action toward a cleaner planet while doing something good for themselves too. Home solar is good for everyone, and we couldn’t be happier to expand our partnership into these two new states,” said Michael Brune, Sierra Club Executive Director.

Sungevity’s sales doubled in 2013 because of the ease of its online quote system and focus on customer service, as well as growth of the market as a whole. The company’s iQuote system can rapidly calculate a range of information using satellite imagery, aerial photography, and historical consumption rates.

New Mexico is ranked in the top ten US states for solar-powered houses. $131 million dollars was invested in New Mexico solar power in 2013, according to the Solar Energy Industries Association, but investment there is expected to increase this year. New Mexico has the second-highest solar potential of the American states, according to Environment New Mexico, which wants solar systems on 100,000 New Mexico homes by 2020.

Vermont ranks 24 in the United States for solar power, according to the Solar Energy Industries Association. $47 million was invested there in 2013, which was an increase of 28% over 2012. Solar investment in Vermont is expected to increase again this year as well.

Image Credit: Sungevity

August 7, 2014 0 comment

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Sungevity Gets $70 Million In New Financing From E.ON, GE Ventures, & Others

by Zach April 8, 2014

written by Zach

It seems that all of the solar financing companies have been completing big financing rounds lately. We just covered a new funding deal for SunPower and then got news of one for Sungevity.

Sungevity has just raised $70 million in new equity financing, with cash coming from new as well as existing investors. Jetstream Ventures, E.ON, and GE Ventures are some of the big investors in this round.

The financing is for continued growth in multiple countries. A press release about the news states: “The company’s U.S. sales doubled in 2013, fueled by proprietary remote solar design and instant quoting technology, as well as strategic business partnerships. Sungevity’s business interests in the Netherlands and Australia, launched in Q4 2011 and Q2 2012 respectively, also are scaling rapidly.”

“With E.ON and GE Ventures as equity investors, the Sungevity coalition now includes the world’s largest investor-owned utility company, the company that built much of the planet’s power infrastructure and one of the world’s largest retailers,” said Andrew Birch, Sungevity’s Chief Executive Officer. “That lineup combined with our customer-centric technology platform and the capitalization from this investment round, positions Sungevity to be the leading global solar brand.”

Frankly, if Sungevity were on the stock market or if I were a large investor, I’d be looking to invest in the solar pioneer. I think the company has a very bright future. Despite not being the largest solar service company out there, it is one of the largest, and it has some clear competitive advantages. It’s also doing good work expanding into other countries, which I think will serve it well in the long term (well… in the long term and in the short term).

April 8, 2014 0 comment