Renewable Energy

Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$35,820/ton = $5.07/kg) – down 1.8% w/w Note: Adjusted for CNY exchange rate and 13% VAT….

Washington is drafting a ban on Chinese inverters. ENPH (+12%) and SEDG (+10%) are ripping in the pre-market. One problem: the ban targets the one part of the market these two barely touch (i.e., utility-scale)….

Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,485/ton = $5.15/kg) – down 0.1% w/w Note: Adjusted for CNY exchange rate and 13% VAT….

What Is the Channel Seeing Three Weeks Ahead of the July 4 Safe-Harbor Deadline? Below, we provide a Q&A we had today with Krannich — one of the largest global distributors of solar products, with…

Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,525/ton = $5.18/kg) – up 1.2% w/w Note: Adjusted for CNY exchange rate and 13% VAT….

The Thesis, in One Breath Wood Mackenzie and SEIA forecast U.S. residential solar installations fall -21% y/y in 2026 (link). Therefore, when incorporating the consensus forecast that installs rise +5% y/y in 2Q26 — demand…

Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,100/ton = $5.11/kg) – down 1.4% w/w Note: Adjusted for CNY exchange rate and 13% VAT.Source:…

Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,605/ton = $5.18/kg) – down 0.3% w/w Note: Adjusted for CNY exchange rate and 13% VAT….

Volumes rebounded to 208MW. Tesla’s storage share snapped back to 61%, fully retracing the February dip. And the inverter duopoly has split cleanly in two — Enphase owns what’s left of residential, SolarEdge survives only…

Bottom Line We have covered the solar complex across three full cycles — the 2011–2013 polysilicon bust, the 2018–2019 China “531” subsidy collapse, and the 2023–2024 distributor inventory disaster. The pattern is repeating. China telegraphs…

Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,730/ton = $5.19/kg) – down 0.9% w/w Note: Adjusted for CNY exchange rate and 13% VAT….

Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$37,055/ton = $5.22/kg) – down 0.4% w/w Note: Adjusted for CNY exchange rate and 13% VAT….

Investment Conclusion March 2026 CSI data does something the February dataset did not: it forces us to update our priors with intellectual honesty. The single most important data point we flagged in our April 2…

Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$37,190/ton = $5.25/kg) – down 4.8% w/w Note: Adjusted for CNY exchange rate and 13% VAT….

Polysilicon Futures Spot Contract Price (CNY$38,585/ton = $5.42/kg) – down 14.8% w/w Note: Adjusted for CNY exchange rate and 13% VAT. Source: Guangzhou Futures exchange. Solar Pricing Metrics – 4/29/2026 Note: EnergyTrend discontinued slurry saw…