High interest rates that caused financing costs for panel installations to surge and enduring supply chain disruptions have stifled residential and corporate solar system orders through much of 2023, hammering sector sentiment.
SunPower Corporation (SPWR.O), which for nearly 40 years has been one of the largest U.S. residential solar system installers, has been the downside leader in terms of key solar share prices, dropping by nearly two-thirds year-to-date.
The company also expects its leasing business - where it leases instead of sells solar panels to households, and charges homeowners a monthly fee - to show continued growth following a 108% expansion in the second quarter.
HOME GROWN PRODUCTIONFirms that specialize in the manufacture of key solar components have also seen steep stock price declines this year.
Wall Street trackers are also upbeat on the outlook for First Solar (FSLR.O), which is one the few solar sector companies to have had share prices gain year-to-date.
Persons:
Roth, Gavin Maguire, Jamie Freed
Organizations:
SunPower Corporation, Enphase Energy Inc, Reuters, Thomson
Locations:
LITTLETON , Colorado, California, U.S, United States, Ohio, Alabama