The Survey Results. The pandemic is starting to hit the solar industry, big increases in furloughs and terminations as well as delayed payables in the overall ecosystem. Thanks again for participating in the survey and passing the newsletter on to your colleagues. If anyone has success getting approved for the SBA paycheck protection program, please let me know.
New Sales Down. For the 3rd week in a row, new sales last week dropped 50% when compared to the average sales volume from Q1 pre-COVID. This is a further reduction from the 33% drop we saw in last week’s survey.
Building Departments Adjusting. While over 75% of you said that building departments had closed or delayed inspections, 42% are now seeing no-touch permitting and FaceTime inspections. Please share this data with your local trade group as they aggregate this information.
Adjusting Expenses. Some (43%) have had to lay off or furlough employees and more (36%) are seeing potential for more in April or May. This could be stemmed with the SBA payroll protection loan that is supposed to launch today (but likely isn’t)
Your Question. I asked what question you wanted to see in next week’s survey and over 50% of you asked about the ITC extension. In my conversation with you, it is clear that you want to see it in the next stimulus bill and want to know what strategy is being used to push this. You and I can do our part by contacting our member of Congress. If an actual call to action crosses my desk, I assure you that I will pass it on. I was saddened to see the ITC left out of package 3 and it worries me to see the administration trying to bail out the oil industry without further legislation but I shall keep my optimism alive.
Have a great weekend! Stay healthy!
- Greentech Media: Iberdrola Plots Post-Lockdown Renewables Investment Spree
- Axios: Mnuchin suggests oil companies could receive Fed aid
- Utility Dive: PG&E request for early recovery of $899M from customers troubles ratepayer advocates
- Bloomberg: Europe’s Green Transition Risks Becoming a Victim of the Global Pandemic
- PV-Tech: SNEC 2020 postponed with new dates set to be confirmed
- Electrek: First look at Tesla’s biggest solar roof installation yet – it’s massive
- Solar Builder: Good news – Maryland just made it easier to interconnect solar and storage to the grid
Opinion
Best, Yann