January 23, 2026
Bottom Line: To start 2026, Wall Street has quietly but decisively reiterated its solar optimism, though with notable selectivity. In SolarEdge (SEDG; SELL), TD Cowen broke ranks recently by upgrading the stock to Buy, chasing…
January 22, 2026
LME Metal Prices Mostly Higher vs. Previous Close. Copper +0.17% to $5.79/lb; aluminum +0.32% to $1.56/lb; nickel +0.31% to $9.49/lb; zinc +0.61% to $1.58/lb; lead +0.11% to $1.11/lb; gold -0.20% to $4,822/oz; silver +0.58% to $93.59/oz;…
January 21, 2026
GE Vernova announced that Mavi Zingoni, GM of its Power division, has resigned to be replaced by Gas Power GM Eric Gray. Vertiv announced new modular cooling solution for <100kW racks. Amazon buys shovel-ready 1.2GW+1.2GW…
January 18, 2026
A recent study conducted by state-owned utility CFE noted that the estimated cost of building 4 combined-cycle gas turbines (CCGT) had risen by 66% since six months prior (we understand this to be July to…
January 16, 2026
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…
January 15, 2026
Two-phase liquid cooling leader Accelsius closes $65mm of Series B funding at an unknown valuation, led by Johnson Controls ($35mm) and Legrand ($30mm). VRT ($172.39, SELL) – Liquid cooling entrant receives VC funding for Austin,…
January 15, 2026
LME Metal Prices Surged Higher Yesterday. Copper -0.13% to $6.00/lb; aluminum +1.22% to $1.61/lb; nickel +0.59% to $9.56/lb; zinc +0.67% to $1.59/lb; lead +0.33% to $1.13/lb; gold +0.87% to $4,626/oz; silver +6.70% to $92.78/oz; platinum +2.57%…
January 13, 2026
Bottom Line. Last Thursday (link), in what can only be described as unambiguously bad news for publicly traded Chinese solar manufacturers, the CCP quietly pulled the rug out from under the industry’s economics. Effective April…
January 12, 2026
Near-Term Outlook. At $12.91, CLF trades at ~17.0x our 2026E EV/EBITDA – well north of its 5.0-8.0x historical band. At this altitude, the market is already underwriting a lot of good news: EBITDA above our…
January 9, 2026
We break apart the state of play for GE Vernova, addressing new areas of emphasis out of an accelerative investor day and previewing 4Q (1/28). While we are taking both our estimates and our 12-month…
January 9, 2026
Anti-Involution Hopes Drove Stellar Performance in Chinese Solar Stocks in 2025. China’s “anti-involution” push in solar is Beijing admitting – quietly – that endless capacity growth and price wars have produced impressive volume statistics and…
January 8, 2026
What Changed? The impact to Tesla’s GAAP-EPS, quarterly, from its digital asset holdings is calculated as: ([Bitcoin Price on Last Day of Current Quarter – Bitcoin Price on Last Day of Prior Quarter] * Units…
January 8, 2026
LME Metal Prices Mostly Higher Yesterday. Copper -2.55% to $5.86/lb; aluminum +1.20% to $1.58/lb; nickel +4.76% to $9.85/lb; zinc +0.06% to $1.57/lb; lead +0.55% to $1.14/lb; gold -0.79% to $4,459/oz; silver -3.34% to $78.55/oz; platinum -5.67%…
January 7, 2026
Bottom line: Adjusting Q4 for reality rather than narrative – 418K in Q4 deliveries, a Q4 mix-shift toward heavily discounted Model Ys outside of China (with prices drifting from $39.9k in the U.S. to as…
December 31, 2025
Major Chinese solar producers are aggressively pushing for price increases across the entire value chain, citing rising costs for silver paste and raw materials. Despite these higher quotations, market transactions have largely stalled as downstream…