Friday, February 23, 2024
Hawai'i Free Press

Current Articles | Archives

Wednesday, May 13, 2020
Survey: Hawaii Solar installers slowed by COVID-19
By News Release @ 4:54 PM :: 3701 Views :: Energy, Economy, Small Business, COVID-19

Solar industry impacted by COVID-19, sees at least $6.7 million in revenue losses 

News Release from HSEA, May 13, 2020

HONOLULU, HI:  The Hawaii Solar Energy Association, Hawaii’s leading voice of the solar industry, released today the results of its COVID-19 Business Impact Survey. It indicates the solar industry felt at least a total revenue loss of $6.7 million over a month, between mid-March and mid-April, a greater than 50% loss in market value when compared with Oahu’s declared residential permit value from the same time period in 2019. Companies also saw a 12% decline in total full time employment in the same time period. Going forward, the industry anticipates an additional 19% loss by the end of May absent any significant changes. 

“The results of this survey seem to follow broader national trends regarding the solar industry’s decline due to COVID-19,” said William Giese, HSEA’s Executive Director. “This is just the beginning, and we need to brace ourselves for bigger losses later in the year if things remain the same.”

While total permit volume has remained steady in the first four months of 2020, this is likely reflective of projects booked in late 2019, rather than new projects booked this year. The step down of the federal investment tax credit (ITC) at the end of 2019 led to a larger-than-average sales volume in Q419, and companies subsequently scheduled development of those jobs as far as the end of Q220. During the survey period, companies indicated difficulty generating sales, and cited customer uncertainty as a primary driver of declining sales volume. 

“We believe that permit volume is a trailing metric and is not indicative of projected market activity even a few months from now,” said Mr. Giese. “The reality is that solar companies are having difficulty booking jobs out for the first week in June when they should be booked out to at least August by now.”   

Additionally, all companies surveyed indicated they experienced at least some project delays as a result of COVID-19, with over half of respondents experiencing delays on 50% or more of their projects. Top three reasons for project delays include interconnection and permitting delays, customer uncertainty, and decreased access to financing. The survey was conducted across 20 of the largest residential and commercial solar contractors in Hawaii and represents approximately 70% of the total solar market by permit volume. The HSEA intends to conduct future surveys in the months to come. 

#####

Founded in 1977, the Hawaii Solar Energy Association is a Non-Profit organization and is comprised of installers, distributors, manufacturers, auditors, and financiers of solar water heating and photovoltaic systems. The majority of our member companies are locally owned and operated, making HSEA the leading voice of Hawaii’s solar industry.

PBN: Study: Solar industry sees total revenue loss of $6.7 million amid Covid-19

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT