market

Tesla 'throws in the towel' on growing residential solar, report says


Tesla (NASDAQ:TSLA) tumbled to third place in U.S. residential solar installations while Sunrun (NASDAQ:RUN) maintained its lead and gained market share, according to a report from Wood Mackenzie.

TSLA installed 6.3% of U.S. residential solar capacity during Q1, the first time it slipped to third place since the consultancy began tracking the solar installations market in 2013.

“Tesla has essentially thrown in the towel on pursuing growth in the residential solar space because it has concluded that acquiring customers is simply too expensive,” the Wood Mackenzie report says.

RUN, which overtook TSLA for first place a year ago, gained market share over both TSLA and runner-up Vivint Solar (NYSE:VSLR), accounting for 11% of all home solar capacity installed in Q1, its highest share ever; the three companies combined installed 25% of all U.S. residential solar power capacity.

ETF: TAN





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.