Pandemic is ray of light for solar industry

Between Covid-19 and natural disasters, Mother Nature threw Americans a curveball in 2020. Solar companies are hitting it out of the park.

Solar panels and battery systems have renewed appeal for people spending far more time in their homes and less certain about the lights staying on. Meanwhile, interest rates have never been lower, making it cheaper for capital-intensive businesses such as Sunrun and Sunnova Energy International to raise funds.

The pandemic was initially disruptive as door-to-door marketing became much more difficult. Residential solar installations were down 23% sequentially in the second quarter, largely due to shelter-in-place orders that imposed restrictions on selling and installing systems, according to a quarterly report from the Solar Energy Industries Association and Wood Mackenzie.