Tristan Richardson: Appreciate it, Peter. And then maybe just on the platform investment. Can you talk about what you view is critical and key, product, digital and corporate investments versus those that might be more discretionary and are subject to like you said resumption out into ’24 and ‘25?
Peter Faricy: Absolutely. So, you know, in these economic times when things slow down, you do have to do more with less and you have to prioritize. So the two areas we’re prioritizing are number one, the customer experience and number two profitable growth. And so those are the areas that you would say are everlasting and you would want to sustain those. The areas we’re slowing down are some of the new projects we wanted to do this year on hardware and software innovation, those are things that we can get to in time, those are things that make more sense to invest in as the market recovers. So we’re taking a very rational approach, but our goal is to never compromise the customer experience and to continue to support the market share growth we’ve had over the last four to five quarters.
Tristan Richardson: Appreciate it. Thanks, Peter.
Peter Faricy: Thank you.
Operator: And your next question comes from the line of Pavel Molchanov of Raymond James. Please go ahead.
Pavel Molchanov: [Technical Difficulty] taking the question. Historically, we would think of $0.15 a kilowatt hour as kind of a useful rule of thumb for states where residential solar makes economic sense. Given everything that’s changed in the past three years, is that still the right number to, kind of, give a sense of where it is or is not viable?
Peter Faricy: I think if you were just taking a look, Pavel, at PV in particular, and you were doing an economic comparison, I think those numbers still hold water. I think what’s changed a little bit is that increasing number of our sales are really system sales that include additional components like batteries, EV chargers. And so I think the economic difference will be a mix of how much can you save, but also how important is it for you to have resiliency with your power and reliability with your power and how important is it for you to be able to connect more and more of the other parts of your life. In this case, your electric vehicles to that same source of clean and expensive energy. But I think in some of the states where we’ve struggled this year, like we’ve struggled in Arizona, you know, the economics there are more challenging to save customers money and really that’s a call to action for us to develop lower cost solutions that meet customer needs there, because clean energy is as important in Arizona as it is any other state.
The fact that the utility costs are a little lower there just means we need to work harder at providing more cost effective solutions for consumers.
Pavel Molchanov: And in that context, the fact that module prices finally are back on a downward trajectory, in fact, at an all-time low, will you be passing that on to the end user through lower system prices?
Peter Faricy: So we take an approach where we take a look state-by-state utility-by-utility and we measure three things. One, how much value are we providing to the consumer. Two, what’s the opportunity for our dealers to make a fair return on their business. And then obviously we want to make a fair return on our business as well. So those are the factors we consider. But certainly, if we have lower cost products as we move forward, it will permit us an opportunity to pass that along to consumers. And I do think in addition to the disruption from interest rates and the low consumer confidence, certainly one way to address that is to lower the prices to the consumer. And so as we get lower product prices, I would say in the short-term, in particular, absolutely. You could count on us passing along some percent of that to the consumer and stimulating growth again.
