While the ongoing COVID-19 pandemic may have initiated something of a freeze on new solar financing deals in the US, significant interest in M&A remains and the incoming Biden administration could ease the logjam.
The renewables sector has been named among the most pandemic-resilient infrastructure sub-sectors, thanks in part to its ability to secure finance as well as government efforts to grow the green economy, according to a new white paper from investment firm Foresight Group.
The solar sector’s Q2 results season showed that, for the most part, the pandemic’s impact on deployment in the US was restricted to early in the quarter, helping many companies post better-than-expected performance in Q2. But as Liam Stoker suggests, COVID-19’s tail could be longer than anticipated.
Sunrun is hoping a gradual reopening of its sales channels and the “flywheel opportunity” of grid services in the US will provide a major boost moving forward, as it targets a 20% surge in installs throughout Q3 2020.