Jump-Starting Solar construction after a slowdown or complete work stoppage

Hope sees the invisible, feels the intangible, and achieves the impossible.  Anonymous

In many parts of the United States, we are opening up and getting back to business. The solar industry utility-scale projects kept moving, although at a slower pace for the last two and a half months. Residental in many states equated to getting all the backlog caught up, but few new projects sold. The C&I space was hit reasonably hard as many of these projects have a longer life cycle. Some of the C&I projects were completed while others stalled.

Now the solar industry is getting back to the business of constructing, developing, and selling projects. What would benefit the entire industry is the federal government taking a look into the value of solar. If a fair and wise review completes, then we can expect an extension of the ITC period for the 5% reduction to begin after we start 2021. Also, at this point, hopefully, the Presidential election will have changed the leadership in the White House to a more pro-solar and climate change effort.

A new study, Energy Goes Green, released by BDO, energy sector CFOs reported that solar power would be the most dominant form of alternative energy in the United States by 2023. A study details forces driving the transition towards alternative energy sources. The survey features the thoughts of 100 CFOs at oil and gas and power generation companies.

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An unlikely group of CFOs is making solar a clear part of their overall usage, not just relying on it as a backup. They see there’s a need to shift to increase their renewables portfolios. The value proposition has shifted companies’ focus to implement more renewables. That’s a new focused indicator that we haven’t seen in the past.

In the last month, I have been calling industry contacts about their sense of where the solar industry goes from here. The utility companies say we are already close to business as usual. What we are doing now is moving solar panel sales to the utilities, so they reduce risk and the Levelized cost of energy (LCOE). The residential and C&I players are saying that there may be a slower return to the growth before COVID-19. The respondents based the condition on the liquidity of households and businesses. Although getting back to normal will take time, the long term prognosis, “solar is one of the top growth industries for years to come.”

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