July 30, 2025
Are Western American Depository Receipt (“ADR”) Investors Missing the Forest for the Trees? Despite a plethora of incremental global poly-Si news (today/yesterday), because the Invesco Solar TAN ETF is down today (where NEXTracker, or the…
July 24, 2025
Our Take on Tesla’s 2Q25A Results. While TSLA reported Q2 top-line sales and non-GAAP adj. EPS that missed Cons. ests. – i.e., Cons. ests. that were revised sharply lower through 2Q25, lowering the “bar” for…
July 23, 2025
Our preview flagged incremental buyers waiting on the sidelines to buy this print – +LDD% move as of publication affirms both the viability of this narrative post-earnings AND the incrementality of this update. There just…
July 22, 2025
We Finally Heard Back from the Head of Mid-West, Southern, and South-West Sales at the Largest Distributor of Solar Products in the U.S. In light of Enphase’s pending 2Q25E results after the close today, we…
July 22, 2025
Is Enphase a (Good) Short into Tonight’s Earnings Report? Betting against heavily shorted solar stocks (i.e., ENPH, with 26.469mn shares sold short at present, or 20.88% of the float, currently boasts its highest level of…
July 22, 2025
Tesla 2Q25E Earnings Preview. In this note, we adjust our 2Q25E TSLA model after our review of: (a) our expectation for an increase in gross profit/car sold QoQ as other cars sold saw price increases…
July 18, 2025
A Material Amount of Liquidity Appears Likely to be Drawn Out of U.S. Equity Markets Near-Term. As a reminder to our readers, during negotiations before the debt ceiling was raised with the One Big Beautiful…
July 16, 2025
So… What’s the Update on SunRun’s SUNRN 2025-2 Solar Lease/PPA ABS Bond? In our attempt to keep tabs on the state of affairs in the solar Asset-Backed-Security (“ABS”) space, below we provide visibility into what…
July 15, 2025
Is Canadian Solar Incorporated in Canada or the People’s Republic of China (“PRC”)? When we asked popular artificial intelligence applications OpenAI and xAI where Canadian Solar (“CSIQ”) is incorporated, the answer from both was Canada….
July 11, 2025
GEV reports second quarter earnings on 7/23 – the focus remains on the long-term narrative with equipment slot contracting the focus for Power & Electrification. Although the stock up +16% in the last 30 days,…
July 10, 2025
Is Daqo New Energy (“DQ”) Now a Top Solar Sector BUY? In light of the China Ministry of Industry and Information Technology’s (“MIIT”) new proposed policy around the polysilicon segment, which includes a significant restructuring…
July 8, 2025
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…
July 7, 2025
We highlight both positive and negative feedback on our initiation but we emphasize that investors agree – analysts simply aren’t doing the work on Power Services despite the abundance of data-points quantifying this compelling opportunity-set….
July 1, 2025
The U.S. Senate’s Tax/Spend Bill Makes it a Lot Harder to Use Chinese Solar Products when Installing Solar Domestically – i.e., the U.S. Congress is taking a hard line against Chinese solar panels used in…
June 26, 2025
What’s Up? In this note, we provide on-the-ground feedback from Tesla’s widely acclaimed “Robotaxi” rollout this past Sunday. That is, Tesla’s “launch” has been limited to a handful of its most loyal cult members (not…