The equipment maker’s results for Q1 fiscal 2017 show a dip in revenue but growth in orders for solar equipment compared to the previous quarter.
The Swiss technology company will provide a microgrid combining battery and flywheel storage technologies to improve energy stability for around 300,000 people near Anchorage, Alaska.
In four years, the company has originated more than $1 billion in solar loans, reaching the goal it set when it was founded in 2012.
The Solar Foundation’s National Solar Jobs Census finds solar created one of every 50 new jobs in the United States in 2016, increasing by 51,000 in 2016, or 25% over 2015.
The system is one of three that SCE has contracted to meet peak demand needs following its Aliso Canyon leak, as a new test for the abilities of energy storage.
Around 75 jobs will be lost during the microinverter specialist’s restructuring drive, which reflects increased price pressure across the segment, both globally and in the U.S.
SEC filing outlines proposed changes, described by company CEO Paul Nahi as “necessary to create path to sustained profitability”. Restructuring will cost estimated $2 million and follows announcement last year of staff losses.
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