The U.S. residential solar market is predicted to see a significant rebound, boosted by Vice President Kamala Harris’ strong odds in the 2024 presidential election and the Biden administration’s clean energy initiatives. Industry leaders expect double-digit growth by 2025, fueled by stable utility pricing, lower interest rates, and tax credits. While Europe faces challenges, key solar players like Enphase, SolarEdge, and Sunrun are optimistic about the U.S. market’s recovery.
Shares of Sunrun Inc (RUN), SolarEdge Technologies Inc (SEDG), and Sunnova Energy International Inc (NOVA) fell in extended trading Tuesday, following the disappointing earnings report from Enphase Energy Inc (ENPH). Enphase reported lower-than-expected quarterly revenue and earnings, attributed to declining US demand and inventory management. The company’s weak guidance added to the selling pressure after hours. Sunnova, Sunrun, and SolarEdge are scheduled to release their quarterly results in early May, and analysts expect mixed performances.
