Industry Notes

How is Solar Demand Trending in the US into Q2 Earnings Season, and What’s going on in Europe? A number of market pundits are of the mindset a swath of solar companies will (likely) post…

California Solar Initiative (“CSI”) Data Sheds Light on State of Affairs for Module Level Performance Electronic (“MLPE”) Bellwethers Enphase and SolarEdge, as well as U.S. Storage Market. In this note, we provide the key takeaways from…

So… What is GLJ Research Hearing on What the Senate’s Version of President Trump’s “Big Beautiful Bill” will Offer? Following discussions held today/yesterday with Washington D.C. government contacts on the Hill, in the below we…

California Solar Initiative (“CSI”) Data Sheds Light on State of Affairs for Module Level Performance Electronic (“MLPE”) Bellwethers Enphase and SolarEdge. In this note, we provide the key takeaways from March’s CSI data dump, and what…

How are US Consumers and Firms Reacting to Trump’s Tariffs? Before we attempt to answer this question, we’ll remind our readers, in our 3/26/25 GLJ Macro Weekly update, based on: (1) what we saw as…

Price Tracker. Applying a modified approach, we detail PV pricing data by substrate, segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, price changes in China for mono-grade…

Are Solar Investors Too Focused on an Overly Simplistic Binary, where “More Trump Tariffs = Bad” vs. “Less Trump Tariffs = Good”, when they Should be Focused on how Trump’s Tariffs will Impact Individual Solar…

Update on the “State of the Union” of the US Solar Market. In what follows, we provide a Q&A we had, yesterday, with the largest distributor of solar products in the U.S. Fire-Side Chat with…

Is the Recent U.S. Stock Market Rally on its “Last Leg”? With U.S. tax season nearing, meaning a material amount of liquidity is set to exit the U.S. market, combined with the share buyback blackout…

Data out of California Last Week Provides Bird’s Eye View into 1Q25E Earnings Season for the MLPE U.S. Inverter Bellwethers (i.e., SEDG + ENPH). In what follows, we detail the key takeaways from: (a) the California Solar Initiative…

California Solar Initiative (“CSI”) Data Sheds Light on State of Affairs for Module Level Performance Electronic (“MLPE”) Bellwethers Enphase and SolarEdge. In this note, we provide the key takeaways from December’s CSI data dump, and…

China Plans Mid-Year Change to the Way it Compensates Renewable Energy. Beginning June 1st, China plans to end its fixed pricing mechanism for renewable energy and require electricity generated from such sources to be sold…

Is U.S. Treasury Secretary Scott Bessent About to Unleash the U.S. Liquidity Kraken? In general, U.S. liquidity defined as: Δ in Fed Bal. Sheet – Δ in Treasury General Account (“TGA”) – Δ in Reverse…

Is It True that if One Can Accurately Predict the Path of US Treasury Yields, One Can Also, With Great Veracity, Predict What US Solar Stocks Will Do? As outlined in Ex. 1 below, since…

“It’s Liquidity that Moves Markets” – Stanley Druckenmiller. In this note, we look to address the n-term outlook for U.S. equities when considering: (a) the Overnight Reverse Repo (“RRP”) facility, or money created during the…