As we move through earnings season in the solar industry, it's very apparent that not all companies can be treated the same by investors. For example, SunPower (NASDAQ:SPWR) and First Solar (NASDAQ:FSLR) are the two major U.S. companies that are profitable but SunPower margins are on the rise while First Solar's are falling. 

In the residential market, SolarCity (NASDAQ:SCTY) is expecting to grow nearly 90% this year but a shift to sales instead of leases may affect profits. Nipping on its heels is SunPower, which has quietly become the second-largest residential solar company in the country. 

In the video below, solar analyst Travis Hoium discusses what we've learned from solar earnings so far. 

Travis Hoium manages an account that owns shares of SunPower and personally owns shares and has the following options: long January 2015 $5 calls on SunPower, long January 2015 $7 calls on SunPower, long January 2015 $15 calls on SunPower, long January 2015 $25 calls on SunPower, and long January 2015 $40 calls on SunPower. The Motley Fool recommends and owns shares of SolarCity. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.