The 2024 Annual SunWiz Australian PV Market Report provides the volumes and trends of the Top 50 small-scale technology certificate (STC) retailers nationally and top 20 in each state, plus assesses the LGC (large-scale generation certificate) market leaders and the leaders when STC & LGCs & VEECs (Victorian Energy Efficiency Certificates) are combined.
It goes beyond commonly-accessible data sources, with greatly increased coverage of hidden retailers, providing unique vision of the top companies in the solar industry.
Here’s some takeaways from the report that can help solar retailers ascend the ranks:
State distribution
This chart shows the distribution of volume by state for each of the top 20 retailers of 2023 for combined STC, LGC, and VEEC systems.
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The Top 4 retailers are national, with an emphasis on NSW.
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Of the Top 20 retailers, only three get there (and only one of the top 10) from success in a single state.
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A NSW-QLD combination is the very common combination for retailers installing most of their volume in two or three states.
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Retailers doing more than 50% of their volume in Victoria tend to do most of the rest of their volume in NSW.
Segment distribution
This chart shows the distribution of volume by segment for each of the top 20 retailers of 2023 for combined STC, LGC, and VEEC systems.
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Of the Top 20 retailers, most achieve their level of success from a predominantly residential installation base. But almost all include some amount of commercial installations.
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There are only four companies in the Top 20 (and only one in the Top 10) retailers who achieved success from a predominantly commercial play.
Longevity
This chart shows the annual rank of the Top 20 retailers for STC capacity in 2023 (so don’t assume they are equivalently-positioned companies to those in the previous chart).
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A handful of leaders achieve lasting top-ranked success. Four of the Top 5 companies have been top-5 companies for 6+ years. The other company has consistently climbed the ranks since 2019.
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The ranks 6-10 are occupied by a mix of rising stars, youthful companies, and fading flowers.
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The ranks 10-15 are mostly occupied by companies that were once in the Top 10.
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The ranks 15-20 are a mix of older companies who have finally cracked the formula and new companies who’ve gotten big quick.
Market share
This chart shows the market share of the top retailers in each year.
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Being number one doesn’t mean dominance, by any stretch of the imagination. The market share of the #1 company in any given year has been 3%-4% since 2018.
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The market is incredibly fragmented and becoming more so. Over the years, the market share of any cohort has declined, even as the players that make up that cohort have been replaced after bowing out of contention.
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2023 was the first year in recent history that the market share of the top retailers increased.
The key message:
If you’ve earned your place in the Top Ranks, well done. But don’t congratulate yourself for too long as there’ll be newcomers fighting to displace you. So do what you can to cement yourself in those top ranks.
Top Ranking companies do gain the attention of manufacturers and distributors – 80% of whom read SunWiz market intel. It is worth sending your installation figures to SunWiz each month so you attract the best offers and build fruitful relationships.
Top Volume Retailers can use their rank to get more sales, with an awards program run by SunWiz in partnership with the Smart Energy Council.
What does the national ranks look like?
In addition to a National SunWiz Top Volume Retailer award, many of the companies below will be eligible for state and segment awards. Some awards are still yet to be claimed – companies we’re aware of that should be appearing in this list but remain unverified.
There are hundreds of solar retailers who may not have a multi-state presence, but still are incredibly successful in the local area. SunWiz believes you deserve to be recognized for your local leadership, with a Local Solar Hero award. Read more about that at sunwiz.com.au.
