The residential solar market has been growing rapidly year over year. While it still does not provide the same amount of new capacity as commercial or utility solar on an annual basis, it overtook commercial solar for the first time in Q1 2014. This is expected to be temporary, with commercial solar overtaking it by year’s end, but with all sectors still growing this is excellent news.
Solar companies are starting to take notice of this growth, and are finding ways to enter the residential solar market. Sparq, Inc., a provider of solar energy to the municipal and utility sector, has now also entered the residential market in the U.S. southwest as of August 1. “When we think about the future of solar and renewable energy, we get excited about bringing this important service to a part of the world we call home,” said Don Rodriguez, CEO of Sparq.
Sparq’s existing partnership in the utility market will be expanded with Lightway Green New Energy Co. to provide solar panels and equipment designed specifically for residential applications. “Having worked with Sparq in the past, we are excited to be a part of their important growth from municipal utility renewable energy and into the residential solar market,” said William Sien, Executive General Manager of Lightway. “We look forward to establishing Sparq and Lightway as market leaders in the southwest.”
With the market continuing to grow, more large companies will continue to throw their hats into the ring of residential solar. It’s tough to say if the larger or smaller companies will prevail as the dominant player, and we may not even end up with a winner. Either way, increased competition will continue to keep prices low and spur innovation, helping to ensure solar continues to grow.