Priority #1: Extend the Investment Tax Credit, which new research says could increase installations by 36 percent through 2030. The solar industry met in Salt Lake City with a more sweeping and disciplined message than in some years past: Rally to extend the federal Investment Tax Credit and buckle up for a decade of massive […]
‘Transformative’: Sonnen to Deliver Community Battery Network With Grid Services Contract
“This is what we’ve been working on for years,” says Blake Richetta, CEO of the U.S. business at Shell-owned sonnen. German home energy storage company sonnen fulfilled a long-time dream for its U.S. operation: It will supply battery systems to an entire new residential community, with a contract in place to deliver grid services to […]
Elon Musk’s Latest Plan for the Solar Market: Rentals
Tesla continues to search for a viable solar strategy after logging its lowest-ever quarterly installations in the second quarter. Tesla will now rent solar systems to customers in six states for $50 a month, in a scheme to boost residential solar deployments after it logged its lowest quarterly installations ever in Q2. In a Sunday […]
Sunnova Logs Q2 Loss But Outlines Big-Time Customer Growth
The newly public residential solar company is growing quickly but has much work ahead to become profitable. Sunnova finished its first quarter as a public company with a net loss grazing $50 million, which the company attributed to several factors including $1.3 million in initial public offering-related costs and $11.6 million in depreciation expenses. Despite […]
Sunnova Partners with California Roofer Ahead of Solar Mandate
California’s residential solar law goes into effect in 2020, and providers are gearing up to capitalize on it. A high-profile solar-homebuilder partnership has emerged from the flurry of activity surrounding California’s new solar home mandate, which goes into effect in 2020. Residential solar provider Sunnova and PetersenDean, a California-based company that installs roofs and solar, […]
Vivint Solar’s Q2 Operating Loss Deepens as It Invests in New Sales Channels
The rooftop solar industry is grappling with how to keep customer acqusition costs down, and the number-two player is not immune. Vivint Solar, the second largest U.S. residential solar installer after Sunrun, grew its Q2 deployments by 19 percent to 56 megawatts, but reported a deeper operating loss. Vivint said it’s investing in new and […]
Hawaii’s Trailblazing Solar Market Continues to Struggle Without Net Metering
National market leader Sunrun has seen its PV permits tumble in Hawaii, echoing broader problems for the market. Is this the new normal? Hawaii’s residential solar market continues to contract, a phenomenon the industry largely attributes to policy changes that went into effect after the state ended net energy metering in 2015. The number of […]
Sunrun Hits Deployment Targets, Expands Grid Services Business in Q2
The nation’s largest home solar installer reached 255,000 total customers in the second quarter, a 26 percent increase since last year. The largest U.S. residential solar installer hit deployment expectations and built out its battery business in the second quarter. Sunrun installed 103 megawatts, hitting its guidance of between 102 and 104 megawatts. That’s an […]
SunPower Reports Progress in Its Strategic Overhaul During Q2
“The restructuring of the company is paying off,” SunPower CEO Tom Werner told GTM. SunPower returned to profitability and exceeded its revenue guidance in the second quarter, pointing to signs that its strategic overhaul is bearing fruit. Shares surged 20 percent in after-hours trading, to around $14. Though the company is still working to improve […]
Sunnova Raises $170M in First US Solar IPO in Years
“We’re the first solar company that went public that’s headquartered in Houston,” CEO John Berger tells GTM. “Now you know the energy business has really changed.” Shares of residential solar company Sunnova ended their first day of trading on Thursday at $11.25, below their initial price of $12 and well south of a range of […]