financial results

US solar tracker supplier Array Technologies has bounced back from a difficult 2021 by posting strong Q2 2022 financial results mainly due to its acquisition of STI Norland, while upcoming tailwinds could buoy its performance further still moving through the year.

US solar tracker manufacturer FTC Solar has cut its net losses compared with last quarter and Q2 2021 but has seen its revenue collapse, blaming a hostile solar environment in the US that has seen project delays and cancellations, which it said it now hoped was coming to an end.

The passing of the Inflation Reduction Act (IRA) could bolster opportunities for Clearway Energies, according to Roth Capital Partners.

Energy technology company AES Corporation is still on track to reach its target of 4.5-5.5GW in long-term renewables and energy storage contracts in 2022, having already signed 1,618MW in the year to date, according the firm’s Q2 financial report.

Following strong demand in the US market for residential solar, US solar installer Sunrun increased its customer additions by more than in Q1 and posted better-than-expected financial results, while still making a loss.

Daqo recorded its best production volume and profits quarter in Q2, primarily driven by a 28% reduction in its polysilicon production cost.

A continued demand from Americans for rooftop solar has led SunPower to add a record all time high of 19,700 customers in Q2 2022.

Inverter manufacture SolarEdge has posted record revenues and inverter shipments for Q2 as it benefited from strong demand for its products in the US and Europe, while addressing previous supply chain problems that had hampered performance in the previous quarter.

Renewables developer Mytilineos has seen its profits soar to €166 million in H1 2021, with renewables sales nearly doubling.

Residential installer Sunnova continues to reduce its net loss while recording its best quarter in terms of sales during the second quarter.