The U.S residential solar market is growing … fast … as thousands of homeowners install panels. But yet the biggest companies that install and finance these projects are reporting hundreds of millions of dollars in losses.
This New York Times article says it’s because of intense competition and the high costs of doing business. It points to Sunrun and Sunnova, two of the biggest residential solar companies, saying they collectively lost $500 million in the first nine months of 2020.
The article explains that residential solar is a fiercely competitive and expensive business, and those big companies must contend with hundreds of smaller rivals, many of which have been turning a profit for years.
So, here’s the question: Is big business bad for residential solar?