LOS ANGELES: The booming rooftop solar panel industry nosedived overnight when the coronavirus forced homeowners to rein in spending and keep their distance from would-be installers.
Energy research firm Wood Mackenzie has slashed its rooftop solar installation forecasts for Europe and the United States by a whopping 30 per cent this year, while lifting its forecast by 3 per cent in Asia, where China provides strong government support.
"It was a radical shift," said Bywater, adding that it had hastened Vivint's plan to diversify sales strategies and cut costs:"I hope we never lose that and we accelerate that." "Ideally, you have the day when solar is like Amazon, so you can buy and be fulfilled in a very efficient process," he said.
Rodrigue Kauahou, a worker of the installation company Alromar, stands as he sets up solar panels on the roof of a home in Colmenar Viejo, Spain Jun 19, 2020. Picture taken Jun 19, 2020. "We have been thinking about doing this for a while but we brought it forward because of this situation," he said, adding that he expected to triple installations with the offer.
Nevertheless, despite such innovations, the industry will take time to bounce back, according to industry groups.