September 6, 2024
California is Considering Retroactively Cutting NEM 1.0 and 2.0 Benefits… But Why? As seen here, California is currently considering shifting NEM 1.0 and 2.0 customers, who pay ~2c/kWh for power, to the less advantageous NEM…
August 29, 2024
Price Tracker. Applying a modified approach, we detail PV pricing data by substrate (Ex. 14-15), segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, price changes in China…
August 14, 2024
Is it Time to “Re-Up” the Nuclear Bull Thesis? In this note, we analyze the seasonality associated with the monthly purchase of U3O8 (in both volume and number of transactions, in our attempt to address…
August 8, 2024
Does the Recent Sale of Resi Solar Loans Suggest NOVA is “Hiding” an Imminent ~$1.6bn Impairment Charge, Does SPWR’s Bankruptcy Pose an Existential Threat to RUN/NOVA, & Why Have 3 U.S. Gov’t Agencies Opened an…
August 1, 2024
Sunnova is in Big Trouble, No Matter What its “Fictional” Non-GAAP Adj.-EBITDA Says (a number so devoid of actual expenses, it more closely resembles revenue – i.e., in 2Q24, Sunnova’s non-GAAP adj.-EBITDA came in at…
July 30, 2024
Janet Yellen is Always Good For the U.S. Stock Market… Right… Right? In the analysis the follows, we provide our take on Janet Yellen’s announcement around the U.S. Treasury’s estimates for privately-held net marketable borrowing for…
July 30, 2024
Our Checks Suggests Investors Remain Excited About Canadian Solar’s Ability to Sell its Utility-Scale Solar Pipeline. In recent discussions with solar investors, we’ve learned that many feel CSIQ’s 5.0GW of Recurrent Energy solar project development…
July 23, 2024
Admittedly, 2Q24E is Not an Easy Quarter to Model for Tesla. In the below, we consider various moving parts in TSLA’s 2Q24E model, including: (a) 57.146K more cars sold in 2Q24E QoQ (a positive), (b)…
July 17, 2024
Wow… That Can’t be Good. Below, in Ex. 1, we provide a letter sent by SunPower (SPWR; SELL) to its customers around 1:39pm EST today. In what follows, we provide our take. SunPower is No…
July 15, 2024
Hold On… Come Again? Last Friday, unbeknownst to many (it seems), SPWR (link) filed an amendment to its July 3rd 8-K, which provided additional information, this time from Ernst & Young (“EY”). more specifically, in…
July 15, 2024
What Does Our Bridge to Tesla’s 2Q24E EPS and Free-Cash-Flow Say vs. the Current Consensus Estimates? In the below, we provide our bridge to TSLA’s 2Q24E GAAP/non-GAAP EPS and free-cash-flow (“FCF”) when considering: (a) TSLA’s…
July 12, 2024
Price Tracker. Applying a modified approach, we detail PV pricing data by substrate (Ex. 3-4), segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, price changes in China…
July 11, 2024
Our Checks Suggest Cleveland Cliffs May be Trying to Stop the Bleeding of Hot-Rolled-Coil Prices Falling. In checks we conducted yesterday, we were informed that CLF is alleged to be offering a significant baseload of…
July 8, 2024
SunPower Releases “Horror Show” of an 8-K, After the Markets Closed July 3rd at 5pm EST (almost as if to “sneak” it by investors ahead of a national U.S. holiday). In short, another day, another…
July 3, 2024
Price Tracker. Applying a modified approach, we detail PV pricing data by substrate (Ex. 23-24), segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. Last week, price changes in China…