After The Pandemic: Will Solar Still on Track for Major Growth?

After The Pandemic: Will Solar Still on Track for Major Growth?

WWW.GRIDFREEDOM.COM

Since the coronavirus pandemic began, it seems like just about every industry has been suffering in some way. The solar sector is no different.

Before the lockdowns came, solar was soaring.

Between 2018 and 2019, solar installations grew by a whopping 23%. And 2019 marked a record in the industry’s history: solar made up 40% of America’s new electricity generation.

WWW.GRIDFREEDOM.COM

It was predicted that 2020 would see a 47% growth in capacity, but COVID-19 has since prompted forecasters to revise their projections.

Solar has Taken a Big Blow Both the industry’s manufacturers and contractors have been struggling greatly. In China, where most solar panel production takes place, many factories were closed for months, seriously disrupting the supply chain. Some USbased manufacturers have also suffered in the same way.

Many contractors had to temporarily shut down, while some have been able to operate within restrictions.

WWW.GRIDFREEDOM.COM

But the instability led to staggering job-losses as contractors couldn’t cover their staff’s payroll.

That’s because leads dried up practically overnight.

With millions of Americans now claiming unemployment and many seeing their retirement accounts swing downward, they haven’t been keen on making any big investments. Going solar has been out of the question for many households that suddenly lost their income and/or savings.

WWW.GRIDFREEDOM.COM

Forecasts are Mixed for the Times Ahead As the crisis has been unfolding, experts have been trying to predict what effects it will have on the industry in the months and years to come. But the opinions are a mixed bag. Some believe that the virus has brought on a long period of hardship, while others are counting on the resilience of the market and an increased demand for solar.

The negative: The pandemic is likely the catalyst for a recession, which will push even more buyers out of the market for residential solar.

With the need to let go of so many workers, contractors may not even have the staff to handle many installations. This can lead to delays of projects that contractors do manage to get, something further exacerbated by slower product shipments.

WWW.GRIDFREEDOM.COM

The positive: A drop in electricity demands and industry layoffs pushed coal power to the back of the line. Renewable energy became the go-to choice for grid operators, who must provide the cheapest possible energy to customers. For households, economic pressures and rising home utility bills will make solar savings even more appealing. Some experts are saying that 2021 could see even more growth than previously predicted.

A Solar Marketing Company Can Help You Maintain Stability No matter what lies ahead, one thing remains true: your business will need access to a steady flow of serious solar buyers if it’s to keep running. Partnering with a solar marketing company can help you accomplish just that, without any extra work on your part.

WWW.GRIDFREEDOM.COM

If the market turns sour, you’ll need any good leads you can get, and they’ll be hard to come across on your own. If the market gets a boost, then you’ll be able to grow your company’s safety net with the profits from extra sales. That will put you in a much better position should COVID-19 cause more disruptions down the road.

Discover the Agency That’s Helping Contractors Survive the Crisis: Visit www.Gridfreedom.com WWW.GRIDFREEDOM.COM

Contact Us

Grid Freedom, Inc. 2430 RT 34 Manasquan, NJ - 08736, United States Call: 855.596.9567

Email: accounts@gridfreedom.com Website: https://gridfreedom.com Follow Us

WWW.GRIDFREEDOM.COM