Choosing a solar company with a sound business model, sustainable growth, trusted partners, clear vision and a solid track record will always be more beneficial to the customer than simply comparing panels and inverters…
Sales grew 69 percent in the second quarter for one of the largest residential solar fleets.
Sunrun installed 65 megawatts of residential solar systems in the second quarter, a 69 percent jump that beat the PV installer and financier’s forecast of 60 megawatts. Sunrun also beat the Street’s expectations. Analysts had anticipated a loss, but instead Sunrun posted a Q2 net income of $32.6 million. The company performed similarly well on other metrics.
Oppenheimer Equities sees Sunrun “benefiting from several structural advantages. First, we view the multi-channel approach to deal sourcing, particularly leveraging its distribution business, as critical to its industry-leading NPV/W performance. Second, we believe its history as a finance entity has led to discipline around unit economics ahead of peers, which we believe will drive investor returns.”
Fenster said, “Because we’ve stayed focused on what our customers want and we see continued demand for leases, we have not seen our lease versus loan mix change materially. We continue to plan to use our strong capitalization to ensure that we can provide the product that homeowners want.”
Jurich added, “We continue to believe that the long-term growth rate for the residential solar is 20 percent to 30 percent. Having been in this business for almost a decade, we have seen significant quarterly and even annual fluctuations above and below this range, but the macrodrivers sustaining this level of growth are powerful and persist. We think that the reactions to recent results are too severe and are not appreciating the longer-term attractiveness of rooftop solar to consumers and its important role in building a modern energy infrastructure.”