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>> Solar panel installations at homes in the United States are poised to fall for the first time this year, after years of double digit growth. And according to a Reuters analysis the reason can be traced to one company, Tesla. For years SolarCity, with early backing from Tesla CEO Elon Musk, was the biggest player in residential solar, and the driving force behind the markets super charged growth.
But after Tesla took over SolarCity the company has stopped its aggressive marketing campaigns and ambitious expansion. Reuters' reporter Nichola Groom.>> Tesla acquired SolarCity a little over a year ago. And at one time SolarCity controlled about a third of the US market for residential solar. And then they started to pull back because investors got concerned about their debt fueled rapid expansion.
And so what Tesla has done since they bought SolarCity is continue that pull back of installations. Installations have dropped 42% in the last quarter at Tesla. And so that brings down the entire market when you're talking about a company that was responsible for as much as a third of the entire market.
>> That slow down comes even as Musk pushes for a green energy strategy. Late last year in a press conference Musk showed off solar technology integrated in their roof tiles, a home battery to store excess energy, and of course the Tesla electric car to illustrate the road ahead.
SolarCity's rapid growth was fueled in part by a no money down offering that enabled residential customers to pay just a monthly fee to go solar. But sales have lost speed as Tesla has focused on the most profitable projects.