Dumoulin-Smith: Solar leasing volume will rise in 2026 despite market contraction
Julian Dumoulin-Smith · Tumult in residential solar · Jul 10, 2025 · at 17:42
Jefferies analyst Julian Dumoulin-Smith explains how eliminating the Section 25D consumer tax credit will shift market share to third-party corporate leasing providers.
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“20, 26 is going to be, again, I would call it extraordinarily dynamic in a market which you could argue the market itself is going to decline in absolute terms. And yet for the incumbent leasing companies, arguably their volumes on a discrete basis are going to go higher, right? Because they're going to capture the market share that they didn't previously have that was going directly to consumers.”
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