Sales And Leads. In last week’s survey we saw what the future in solar may look like. Sales were down from pre-covid levels by 39% holding flat week over week remaining an improvement from the bottom 3 weeks ago. On the other hand, lead volume is up 18%. We are starting to see companies pivoting into the new normal and some executing better than others, some investing into the transition while others are waiting. Close rate will likely drop across the board but your sales force will be able to meet with double or triple the customers than before, more to come on this.
A Growing Backlog. With sales continuing and installations slowed or stopped, there was a concern in my mind that the gap in solar would prolong beyond shelter in place orders. This would happen if companies built out their pre-covid backlog and didn’t add new projects during the current worst times. Good news, 45% of residential installers report that their backlog is growing. This is bad for current revenues but creates an optimistic outlook as business resumes in some fashion.
Look At Building Departments. The issue of getting and closing permits is now split into two concerns for me. Over 50% of building departments are presenting options for digital permitting, some even doing instant permitting. This is a great sign and potentially permanent improvement to make solar installation processes more efficient. On the other hand less than 10% of the AHJs are doing remote or video inspections. I am being told by those that are working on this with inspectors that we can foresee many AHJs moving into this direction soon. We will track this again next week when the bi-weekly survey reopens.
Disconnected Charging. Congrats to FreeWire for raising $25million of new capital. Not a great time to do that but their business is fascinating to me.
How To Run PG&E. PG&E is starting a search for a new CEO as the bankruptcy comes to a close. The business is still complicated and very regulated, with oversight by courts and state regulators in partnership with legislators, employees and unions. The new CEO should have the resume strong in power generation especially as it pertains to competitive power markets. At the same time the values of the new executive team should align with those of the consumers and legislated goals set forth by the State of California. Getting to 100% clean energy shouldn’t just be a task for the CEO, it should be a value that they also believe in.
News And Happenings At Wakeup HQ. Last week, the SolarWakeup podcast kicked back off with fantastic interviews with the CEOs of CleanChoice Energy and Palmetto Clean Technology. In both episodes, we talk about their business and how the new norms are changing market conditions and how they are adjusting. This summer we will also be launching some new products that go to the core of empower solar companies across the ecosystem. Much more to come on this…
- Utility Dive: As extreme weather spurs billions in utility resilience spending, regulators struggle to value investments
- Greentech Media: FreeWire Technologies Raises $25 Million, Starts Shipping Battery-Boosted Fast Chargers
- Solar Power World: Bipartisan group of senators asks Treasury to extend ITC safe harbor deadline by one year
- Axios: Coronavirus disruption clashes with major renewable energy deadlines
- Forbes: Sunrun Policy Chief Talks COVID Impact and Solar Power Future
- PV-Magazine: Sweden joins European trend and exits coal — two years earlier than planned
- PV-Tech: First Solar signs 15-year PPAs with California community groups for 100MW solar-plus-storage plant
- GreenBiz: Google redefines what it means to be ‘100% renewable’
Opinion
Best, Yann
The post This is your SolarWakeup for April 27th, 2020 appeared first on SolarWakeup.com.
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