Weekly Observations
- This Week. Permit activity continues to trend upward (+5% W/W), despite slow weeks from two of our Solar Cities (Los Angeles -22% W/W and Albuquerque -48% W/W). Our best performing regions were the Northwest and Texas at +17% W/W and +20% W/W, respectively.
- This Month. After a slow Q1, residential solar permits have taken a significant step up in April. Specifically, the number of visible permits has climbed 6% m/m in April and tracking up 15+% compared to Q1. Assuming continued (modest) improvement in May / June, Q2 permits would easily hit 20% growth sequentially.
- Best Performing Cities. Among our top performing cities were: San Jose +33%, Denver +22%, and Austin +62%. Permit activity has been particularly strong in Denver this quarter, as the city has had three straight weeks where activity has trended up at least +20% W/W.
- New Cities. This past week, we have added new data from additional cities into our residential solar model. We are now tracking real-time permits for 81 cities with additional visibility to over 50% of the residential solar market.
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