US residential solar set for a record-breaking year — despite and because of 2020 – pv magazine USA

Over the course of this strange year, American residential solar companies such as Sunrun, Vivint, SunPower and Tesla claimed they could weather the Covid storm with remote selling and new online strategies. It turns out they were right. BloombergNEF forecasts that Americans will install 3 gigawatts of solar on residential rooftops in 2020.

October 6, 2020

Over the course of this strange year, American residential solar companies such as Sunrun, Vivint, SunPower and Tesla claimed they could weather the Covid storm with remote selling and new online strategies.

It turns out they were right.

BloombergNEF is forecasting that Americans will install a record 3 GW of solar on the roofs of their homes, although those figures might not match expectations from simpler times in late 2019.

Source: BloombergNEF, note: 2020 and 2021 are forecasts

“The push for renewables is really strong,” said Tara Narayanan, an analyst, quoted in the Bloomberg Green piece. “It’s allowed the sector to shake off the worst of the plague and some natural disasters.”

As we’ve reported, Covid-19’s sudden arrival put resiliency at the forefront of people’s minds and accelerated adoption of digital sales practices.

“We’re seeing a lot of success in the conversion to digital sales… We’ve taken how the industry would have evolved – probably in two years – and we’ve done it in a month,” Lynn Jurich, CEO of Sunrun said during a quarterly earnings call. “I’m very encouraged by this transition and what it can mean for acquisition costs,” she added

During Q1 earnings calls, Vivint and Sunrun’s CEOs both said that April was a banner month in terms of digital leads. Enphase Energy also noted that it was seeing an increase in digital leads and in traffic to its online store.

“Early indications are that even if the country enters a prolonged economic downturn with poor consumer confidence, people will still want solar,” Jurich said during Sunrun’s earnings call.

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Source: https://pv-magazine-usa.com/2020/10/06/us-residential-solar-is-set-for-a-record-breaking-year-despite-and-because-of-2020/

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