SolarCity expects PV installations to increase 60% in 2013 - SolarStar

US-based PV installer  SolarCity said its PV installations  reached 156MW in 2012, an increase of 117% compared to 2011, exceeding guidance by 10MW.

Providing its first update on business expectations since its successful IPO on the NASDAQ stock market in December, 2012, SolarCity said installations are expected to increase a further 60% in 2013, reaching 250MW.

In 2012, the company said that it achieved residential installations amounting to 85MW, while commercial installations were 71MW.

In Q4 2012, PV installations reached a total of 47MW. Residential installations were 30MW, while commercial installations reached 17MW.

Guidance for 2013 not only highlights an expected significant increase in overall installations, but also a growing emphasis on the residential market. SolarCity guided residential installations are expected to reach 190MW this year, an increase of 123%, compared to installations in 2012.

Commercial installations are expected to reach 60MW in 2013, down 15% when compared to 2012.