Third-party-owned solar delivered more than $938 million to the California, says report

California solar

Greentech Lead America: Third-party-owned solar delivered more than $938 million to the California economy in 2012, says a report from Sunrun, a home solar company, and PV Solar Report.

Third-party-owned solar is the service offered like providers like Sunrun that own, maintain and insure solar panels on a homeowner’s roof. This business model allows homeowners switch to solar without the high upfront cost, avoid the responsibilities of ownership, and save money on electricity bills.

Sunrun pioneered the solar service model for home solar and is the market leader, installing $2 million in solar equipment every day.

California solar

The single-year record means that California third-party-owned solar generated about the same amount in 12 months as in the previous five years combined. The third-party total represents 74 percent of the state’s 2012 home solar market, the report said.

An August 2012 report showed the business model had delivered $1 billion in growth for the state since it became a homeowner choice in 2007.

“Nearly 75% of homeowners who went solar in 2012 chose third-party-owned, compared to 56% in 2011,” said Stephen Torres, founder and managing director of PV Solar Report. “We are seeing the most growth in low and median-income zip codes as companies like Sunrun continue to remove the barriers to access.”

The report also revealed California’s Top Solar Cities for 2012 based on solar system contracts sold. Third-party-owned solar represented 75% of the 2012 home solar market among these cities. The state leaders for 2012 in order of total home solar contract value are: San Diego, San Jose, Bakersfield, Los Angeles, Fresno, San Francisco, Corona, Murrieta, Clovis, Temecula.