German conglomerate BayWa benefited from high demand for solar modules during the first quarter of 2022, with its revenues bolstered by the sale of an operational PV plant in the US.
Inverter manufacturer SolarEdge benefited from high demand for its products in Europe to increase revenues to a quarterly record while navigating a shortage of electronic components.
US residential solar installer Sunnova continues to reduce its net loss in the first quarter of 2022, despite increasing its revenue due to a higher demand of additional energy services.
Tesla CEO Elon Musk said he expects the company to address component shortages that limited the progress of its solar business in the first quarter of 2021, as installs decreased 48% year-on-year.
Solar EPC company iSun more than doubled its revenue year-on-year in 2021, driven in part by the execution of its commercial and industrial (C&I) PV project backlog.
Solar tracker provider Array Technologies is expecting to bounce back from a 2021 beset by supply chain challenges and project delays, as its order book reaches a new high and becomes more geographically diverse.
SMA Solar Technology’s sales for 2021 came in below prior expectations for the year as the inverter supplier was impacted by a shortage of electronic chips – a headwind it expects to persist in the coming months.
French renewables company Voltalia’s financial performance last year was boosted by the growth of its project development, construction and equipment procurement segment, as the company heightened its focus on developing solar PV.
Solar developer ReneSola Power more than doubled its project pipeline in 2021 and expects to maintain growth this year amid increasing demand for renewables generation as European markets look to achieve more energy independence.
Russia’s invasion of Ukraine means that ensuring security of energy supply through the expansion of renewables should be a priority for policymakers, according to the CEO of German utility RWE.
