This is your SolarWakeup for March 18th, 2020

One Last Chance. Here is the link to this week’s tracker. This survey gives us the baseline, thank you for everyone that already filled it out. At noon today, the survey will close. Responders will get a preview via email tomorrow.

2019 Year In Review. Hard to think about 2019, but it was a record year for distributed generation across the County. Solar grew 23% from 2018 even in the face of tariffs. Residential solar had an impressive 2.8GW and would have absolutely crushed the 3GW in 2020 and may still do so. Community solar, waiting for its major growth year still achieved 500MW in 2019. There is a note in today’s rundown that talks about retail buyers being a key demo in solar, this is what will grow the community solar segment as well. Remember that non-residential includes C&I as well as community solar.

SEIA Comments On Corona. The forecast in the 2019 year in review makes a disclaimer that it does not include any impact by corona. In a separate statement, SEIA said that the 47% growth forecasted will be ratcheted in the coming months as we know the impact. Abby Hopper says  it will be a “pretty significant crisis in the solar industry in addition to a significant crisis in the overall economy.”

Is Solar Contrarian? GTM found a gem in the Q4 Sunrun earnings call. On the call CEO Lynn Jurich said that solar may work better in an economic downturn and I agree with her rationale. Assuming the cost of capital, underwriting and liquidity remain in the market and competitive, solar will be able to continue. The only counterpoint, which was hard to predict, is that solar companies that overly rely on selling face to face will have difficulties and need to adjust to the short term changes.

Utility Shutoffs. Almost unanimously, utilities will suspend cutting offer power for non-payment during corona.

Opinion

Best, Yann