Third-party possession (TPO) of non-residential tasks in the USA elevated to 72% market share in 2024, up from 69% in 2023, in response to the most recent “U.S. Commercial Solar Competitive Landscape” report from Wooden Mackenzie.
The report tasks the TPO section will proceed to guide business and neighborhood photo voltaic financing, reaching 74% market share by 2026 earlier than moderating to 62% by 2029. Based on Wooden Mackenzie, Nexamp held the most important TPO market share in 2024 (7%), adopted by Summit Ridge Vitality (6.5%) and Standard Solar (5.3%).
“The maturation of the tax credit score transferability market is driving development in third-party possession,” stated Amanda Colombo, Analysis Affiliate at Wooden Mackenzie. “Transferable tax credit supply much less complicated, cheaper, and extra versatile monetization choices for TPO tasks. Small and medium-scale venture builders report that transferability has simplified third-party financing.”
Credit score: Nexamp
The report additionally discovered that the general U.S. business photo voltaic market set a brand new annual document in 2024, with 2.1 GWDC of recent capability put in nationwide. Key states like California, Maine and Illinois helped drive 8% year-over-year development.
Trying forward, Wooden Mackenzie forecasts that over 11 GWDC of recent business photo voltaic capability can be added in the USA over the subsequent 5 years. Rising electrical energy costs, development in rising markets and continued momentum from the Inflation Discount Act are anticipated to be key drivers of set up development.
“Rising photo voltaic state markets throughout the nation are experiencing a surge in installations, pushed by favorable elements akin to low growth prices, untapped photo voltaic potential, and plentiful accessible land,” stated Colombo. “Notably, much less established markets within the Midwest and Southeast areas are witnessing vital development in business photo voltaic deployments.”
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