The U.S. section of the 2026 share report describes a market that exceeded 40 GWdc of tracker shipments in 2025, growing about 25 percent, with the top three suppliers accounting for close to 90 percent.
Concentration on that scale changes how a trade measure or a domestic-content rule transmits through project costs. It also means a single company's financial disclosures can be mistaken for industry averages.
We separate market-level statistics from company-level unit economics in this entry.
What the data says
Concentration as a simple calculation
The top-three figure is a sum of shipment shares, not a Herfindahl index or a profitability measure. We show the arithmetic and its rounding.
Reading the units
What one 10-K can and cannot show
Nextpower's FY2026 filing reports about USD 379.9 million in Section 45X credits and USD 130.4 million in tariff cost. Those figures describe one company's fiscal year, which runs April to March, not an industry average.
Revenue per watt
A higher U.S. revenue per watt is often attributed to product mix, domestic content and logistics. Without a consistent denominator across filings, the comparison remains directional.
Data box
| Field | Value as reported |
|---|---|
| 2025 U.S. shipments | Above 40 GWdc |
| Growth | About +25 percent |
| Leader share | Above 50 percent |
| Top-three concentration | Close to 90 percent |
| FY2026 45X credits | USD 379.9 million |
| FY2026 tariff cost | USD 130.4 million |
All figures above are quoted with the unit and reference period used by the primary source. They are reproduced here for reference, not independently re-measured.
What the number does not mean: verification note
45X credits and tariff cost are single-company FY2026 figures (April 2025 to March 2026), not industry averages. Fiscal-year and calendar-year growth rates are never combined.
What to watch next
Whether other U.S.-listed tracker suppliers disclose comparable 45X and tariff line items.
Primary sources
- Wood Mackenzie 2026 share report (US section)
- Nextpower FY2026 10-K (SEC EDGAR): 45X credits USD 379.9M, tariff cost USD 130.4M
- U.S. Treasury / IRS Section 45X guidance
Figures are reproduced with their original units and reference periods. solarrack.wiki does not restate vendor-reported data as independently audited statistics.
Researched and written by the solarrack.wiki editorial desk. Every figure in this article carries a source and a verification note; where a claim could not be confirmed against a primary document, it is labelled as such. Corrections: [email protected]
