Weekly Observations
- This Week. After a disappointing Q1, residential solar permits are finally gaining momentum. In fact, permits have increased for the second week in a row, and are now tracking up 15% compared to the Q1 average. Compared to a year ago, activity is now tracking up over 70% y/y versus pandemic lows and likely headed for +30% y/y in H1’21. With that said, to meet full year 2021 consensus expectations (+30% y/y), permit activity needs to continue climbing by 5-10% per month to compare favorably to the very robust residential solar market in late 2020.
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