100 GW shipped, enough to power the peak load of “two Californias”! Nextracker Inc. today celebrated a first 100 GW milestone for a U.S. solar company, a win for our entire industry and validation solar has come of age. In this video we also covered that there are about 7,000 solar and solar+storage projects in the US queue, with total capacity of about 1500 GW – more than the entire US grid capacity, and that international solar markets are growing strongly with Nextracker serving about 40 countries around the world the world.
We are also pleased to share our full FY2024 financial results, beating our revenue and profit targets for the fourth consecutive quarter since our IPO. For the year, we reported a record $2.5B revenue (up 31% YoY) with backlog increasing to over $4B, increasing over 50% from last year’s $2.6B.
Why is solar growing so fast? It’s because solar power is extremely cost effective, reliable, and faster to install compared to other ways to generate power. And now that batteries storage is affordable and available, there is a solution intermittency of solar, as the queue data quantifies.
And why is Nextracker growing so fast? It’s about innovation, customer service, execution, and our incredibly talented team of experts at Nextracker. It is your hard work, dedication and commitment to driving technology innovation that brings value to our customers every day. A special thank you to our customers and industry partners for your ongoing partnership and collaboration. We’re just getting started!
Shug
