732: What’s Really Stalling Solar’s Momentum? Insights from Sunnova’s CEO

Despite more capital coming into the solar industry than ever before, healthy unit economics, rising utility rates, and even declining equipment costs, equity and debt instruments are trading at distressed levels, with working capital increasingly scarce. What's causing this disconnect, and how can the industry recover?

John Berger, Founder and CEO of Sunnova, is a veteran in the energy market with over two decades of experience. His company is one of the largest solar installation companies in the world, so it’s safe to say he has a privileged view from inside the industry. In today’s conversation, Berger discusses the pressures facing the solar industry, including regulatory hurdles, rising interest rates, and the perpetual whipsaw of the capital markets. He sheds light on how Sunnova is navigating these headwinds, as well as his thoughts on the path forward for the solar revolution.

John spoke with Nico about:

• Why, despite strong solar economics, capital markets are still lagging.
• Sunnova’s response to this high-interest rate environment.
• The importance and impact of domestic content on the solar supply chain.
• Berger's predictions on how the upcoming elections could affect the industry.

This conversation answers a lot of questions about the current state of solar in capital markets, so hit play!

If you want to connect with today's guest, you’ll find links to his contact info in the show notes on the blog at https://mysuncast.com/suncast-episodes/.

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Mentioned in this episode:

CPS July 2024 V2