Nextracker (NXT) Data Trends
Using our satellite imagery, we counted over 21 GWac of utility scale projects that started construction last year, up over 20% from the prior year.
Dec / Jan module imports up 65% y/y; LONGi imports still dismal
Solar module imports for the month of December, as aggregated by Lium, have increased 65% as compared to 2021
SOLARSAT™: Another big month for panel installations; NextEra primary driver; New construction at seasonal low
On the new construction side (leading indicator to tracker installs), activity has been slower than usual with only ~800 MWac per month started in Nov / Dec.
SOLARSAT™: November new construction starts drop sharply (after six very strong months); Panel installations on uptrend
Q4 construction starts are now likely to land in the range of 2.9-3.5 GWac, down substantially from both Q3 and Q2.
November permits down 10% m/m (seasonal decline); Still tracking up >20% y/y
Q4 residential solar permits are on track to decline by 5-10% sequentially and up 20-25% y/y.
Module import data jumps 17% Oct / Nov
Monthly module imports have increased to almost 3 GWdc in October and November, up 17% from the 3Q average
Monthly permit update – Q4 continues to be strong (RUN, SPWR, NOVA, ENPH, SEDG)
After surprisingly strong Q3 permits and upbeat earnings, residential solar permits continue to be robust into Q4.
SOLARSAT™: Panel deliveries accelerating (18 GW p.a. in Oct); Big queue waiting final commish (mostly TX); FirstDIRT™ firm through Oct
In this note, we summarize the utility solar trends identified while going through the latest October solarSAT™ data. Most noticeable has been the…
Takeaways From RE+ Anaheim Conference
As an alternative to anecdotes, imperfect surveys, and guesswork, we have created a tool called Lium solarSAT™ to better inform the market with real-time solar satellite monitoring. With this product, investors and corporate management can monitor the status of all U.S. large scale solar projects, including the day each project broke ground (firstDIRT™), timing of panel deliveries, and final completions. In this report, see findings as we update our data for August satellite imagery.
Takeaways From RE+ Anaheim Conference
In this residential solar note, we are highlighting takeaways from our time at RE+ in Anaheim, CA.