Europe’s residential battery energy storage systems (BESS) market is expected to continue its upward trajectory in the coming years after 745MWh of additional capacity was installed in 2019, representing a 57% increase year-on-year.
SunPower exceeded its previous guidance for both revenue and shipments in Q2, capitalising on what it said was improving demand for distributed generation.
US$245m upsizing of existing facility and US$300m new package from Brookfield bring debt injection to firm bracing last month for quarterly installs to drop to levels unseen since 2017.
Firm stands out from residential peers as it claims EBITDA of US$58-62m and 28,000-30,000 customer additions are possible this year, with Q1 results showing losses continue to pile.
New roll-out figures and talk of cash increases come after leading US residential player acts to withdraw 2020 guidance, with media reports claiming around 100 staff are being let go.
The New York renewables asset manager will refocus on C&I and utility-scale assets after offloading 27.6MW of rooftop PV to San Francisco's Spruce Finance.
Nasdaq-listed group expects deployment to grow by further 15% in 2020, amid hopes that uptake of its solar-plus-storage offering Brightbox will double year-on-year.
Firm forecasts fiscal year 2020 GAAP net losses of US$145-195m despite its return to profitability in a year of record roll-out but also ‘disappointing’ execution challenges.
