In recent years the residential solar industry has been one of the hottest industries in the United States with the market leader SolarCity growing by 50% yearly. Growth has been driven by falling solar costs as well as tax credits such as the California Solar Initiative, and the Investment Tax Credit.
But that was then and this is now, and with the last year several companies have left the solar industry, reduced their workforce, or gone bankrupt. SolarCity has been absorbed by another of Elon Musk’s ventures Tesla. Now the company has lowered it’s expectations for growth and has refocused its attention toward providing premium service offering infinity warranties on their products.
Some part of the blame for this contraction can be laid at the feet of states tinkering with the their residential solar programs such as Hawaii abruptly removing their net energy metering program. However, the bulk of the solar industries woes stem from difficulties within their core business.
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