PV Tech delves into the performance of the top five publicly-listed US residential solar installers – Tesla, Sunrun, SunPower, Vivint Solar and Sunnova – detailing how they grew their market share in 2020, how regionality affected installs last year, and what hurdles the sector can expect in 2021.
With three years of financial and business data available, we can start to analyse a number of possible trends, one of these is the changing landscape surrounding Sunnova's supplier base for PV modules, inverters and energy storage.
US residential solar installer Sunnova reported fourth quarter revenue down 24% from the prior quarter, while posting full-year revenue growth of 22%, year-on-year.
A round-up of the latest news from the US solar market, as Shoals Technologies’ upsized IPO raises north of US$2 billion and Sunnova claims an industry first financing offer.
US residential solar provider Sunnova has stood by its original guidance for 2020 despite recording a heavy loss in Q3, pointing towards a growing number of dealers and services it is offering.
The major US residential installer has reported a surge in both revenues and earnings during Q2 2020, leading it to claim it is not only surviving the COVID-19 pandemic, but thriving.
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.
The US domestic installer has clinched a US$95 million revolving asset-based loan facility and a private placement of US$55 million aggregate principal amount of convertible senior notes.
Despite a lower-than-expected public offering in July and escalating net losses, Sunnova says it is "well-positioned" to reach operational and financial targets, thanks to its growing dealer network and favourable macroeconomics.
