US solar residential player facing layoffs and 2020 uncertainty appoints Tom vonReichbauer as CFO, enlisting individual with past senior roles at Ford, Tesla, Nest and Google.
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.
UK-headquartered solar developer Solarcentury has sold its residential solar arm to Svea Solar, allowing the firm to refocus its efforts entirely on utility-scale developments.
Analysts say residential solar specialist is ‘well positioned’ to witness growth in 2020, amid claims by the firm its indicators remain solid despite talk of COVID-19 impacts on other installers.
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.
It has always been anticipated that by the early 2020s, the feed-in tariff would have tapered away in Japan’s booming solar market. Andy Colthorpe speaks with analyst Izumi Kaizuka at RTS Corporation to learn more about what the future holds for post-subsidy solar in Japan.
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.
The US installer will use the funding to refinance a working capital facility and purchase equipment that will qualify its projects for the full ITC rate before it depreciates to 26% on 1 January.
