Tesla reported a bounce back in solar installations in the third quarter of 2019, while energy storage installs reached a new record high. The company is also launching a third-generation residential roof system ahead of a volume production ramp.
With the major US residential solar installers (Sunrun, SunPower, Vivint Solar and Tesla) having recently reporting second quarter 2019 financial results, PV Tech takes a closer look at the business and market dynamics shaping up in 2019.
Leading US residential PV installer, Sunrun reported deployments of 86MW in the first quarter of 2019, a 27% year-over-year increase that was in stark contrast with former leading installer, Tesla that recently reported deployments of 47MW for the same quarter.
Tesla’s energy generation and storage business revenue declined further in the first quarter of 2019, with solar rooftop deployments hitting a new low of 47MW, a 36% quarter-on-quarter decline. In response, Tesla will be offering new customers in the US a US$99 upfront deposit before installing a solar system.
US-headquartered high-efficiency solar panel manufacturer SunPower Corp recently held its ‘Capital Markets Day’ event that indicated a slow turnaround in its business fortunes would be a key development in 2019.
A key challenge for a company that has undergone several major restructurings in recent years has been the lack of profitability.