iSun cuts guidance as module procurement struggles cause project delays

Facebook
Twitter
LinkedIn
Reddit
Email
iSun has pushed back work on utility-scale projects to next year. Image: iSun.

US solar EPC company iSun doubled its Q1 revenue year-on-year but has lowered its 2022 guidance as a result of module procurement challenges within its utility-scale unit.

Management explained during a conference call with investors that its decision to lower revenue guidance for the year to US$125 million is due to utility-scale projects that have been pushed into 2023.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

With the US Department of Commerce continuing a circumvention investigation that could result in retroactive tariffs of 50 – 250% on solar cell and module imports from four Southeast Asian countries, US EPCs have been struggling to secure modules.

One EPC told PV Tech Premium earlier this month that the current situation for module procurement in the US “is not existing”, while 83% of respondents to a survey from trade body the Solar Energy Industries Association reported cancelled or delayed module supply.

iSun posted first-quarter revenue of US$15.1 million, a 108% increase on the same quarter last year, with growth driven by the continued fulfilment of residential consumer demand and execution of the company’s commercial and industrial backlog.

Having added around US$41.2 million in new customer demand and contracts during the quarter, iSun’s backlog has grown to US$128.3 million.

CEO Jeffrey Peck said the residential division “has seen a tremendous increase in demand”, while the company aims to leverage the sales and marketing expertise secured through its acquisition last year of installer SunCommon.

Despite the revenue growth, iSun posted a Q1 net loss of US$2.9 million, compared with a net loss of US$3.2 million in the same quarter last year.

Conference call transcript from Seeking Alpha

Read Next

August 8, 2025
US solar tracker manufacturer Array Technologies has posted revenue of US$362.2 million in the second quarter of this year.
August 8, 2025
SolarEdge posted inverter shipments of 1.19GW in the second quarter of this year, alongside BESS sales of 247MWh.
August 7, 2025
US residential solar installer Sunrun says it has positioned itself to continue generating strong financial returns after the passing of the 'One Big, Beautiful Bill'.
August 6, 2025
US tracker manufacturer FTC Solar has posted US$19.9 million in revenue in the second quarter of 2025, up year-on-year for the second quarter in a row.
August 4, 2025
Brookfield Renewable earned more than US$400 million in FFO at its renewable generation assets in the second quarter of 2025.
August 1, 2025
US solar module manufacturer First Solar saw sales and net profits increase in Q2 2025, as it forecasts a strong performance under the Trump administration’s industrial and trade policy changes.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines