Renewable Energy


July 22, 2026

California Solar Initiative – May 2026 Data: Installs Fall -44.5% M/M; the Worst Print Since April 2013. The Point Estimate Is Terrible; the Smoothed Base Is Flat. June Decides Which One Is the Signal

By Gordon L. Johnson II

KEY TAKEAWAYS The May 2026 California Solar Initiative (“CSI”) file landed this week, and the headline is ugly enough that the temptation will be to write the obituary. Resist it — for now. Total CA…

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July 22, 2026

GLJ SOLAR PRICING UPDATE – 7/22/2026

By Gordon L. Johnson II

Polysilicon Futures Spot Contract Price (CNY$34,250/ton = $4.85/kg) – down 2.6% w/w Note: Adjusted for CNY exchange rate and 13% VAT.Source: Guangzhou Futures exchange. Solar Pricing Metrics – 7/22/2026 Note: EnergyTrend discontinued slurry saw price…

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July 21, 2026

Solar Industry Update – 2Q26 Preview: We Spent 45 Minutes With Solar’s Most Credible Bull. His Bull Case Sounded Familiar

By Gordon L. Johnson II

Bottom Line This morning we hosted Jigar Shah — former head of the U.S. Department of Energy’s Loan Programs Office and founder/former CEO of SunEdison — for roughly 45 minutes on the state of U.S….

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July 20, 2026

Solar Industry Update – Storage Is Booming; That’s the Problem (are Headwinds Emerging for the Solar Battery Bulls?)

By Gordon L. Johnson II

A European solar market update and a fireside chat with the head of EU sales for Huawei — battery-price deflation is the bull case, the bear case, and the 2Q26 earnings setup. BOTTOM LINE Europe’s…

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July 15, 2026

GLJ SOLAR PRICING UPDATE – 7/15/2026: Supply-Wafers / Poly Down as PV Supply Chain Prices Accelerate Toward a Bottom

By Gordon L. Johnson II

Polysilicon Futures Spot Contract Price (CNY$35,160/ton = $4.99/kg) – down 0.9% w/w Note: Adjusted for CNY exchange rate and 13% VAT.Source: Guangzhou Futures exchange. Solar Pricing Metrics – 7/15/2026 Note: EnergyTrend discontinued slurry saw price…

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July 10, 2026

Global Solar Update + China SNEC Conference Channel Check/Fireside Chat Takeaways: The Music Stopped in May in China… Somebody Tell the Bulls

By Gordon L. Johnson II

China May installs -91% y/y; Prices Below Cash Cost Across the Chain; Reiterate SELL on JinkoSolar (-39.3% YTD), Canadian Solar (-36.9% YTD) & Daqo New Energy (-58.4% YTD) The Bottom Line. There are slowdowns, and…

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July 1, 2026

GLJ SOLAR PRICING UPDATE – 7/1/2026: Cost Support Weakens, Downward Price Pressure Persists Across the Solar PV Supply Chain

By Gordon L. Johnson II

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….

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June 30, 2026

US Solar Inverter Industry Update: Right Headline, Wrong Stocks

By Gordon L. Johnson II

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)….

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June 24, 2026

GLJ SOLAR PRICING UPDATE – 6/24/2026

By Gordon L. Johnson II

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….

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June 17, 2026

Fireside Chat w/ Large US Solar Distributor Sheds Light on Solar’s “State of the Union” Ahead of 2Q26E Results as 25D Sunsets and the July 4 Safe-Harbor Cliff Comes Into View

By Gordon L. Johnson II

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…

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June 17, 2026

GLJ SOLAR PRICING UPDATE – 6/17/2026: Solar Price Collapse Accelerates as: Silver Price Fall + Still Weakening Global Demand = Price “Nightmare on Elm Street” Scenario

By Gordon L. Johnson II

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….

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June 11, 2026

SEDG/ENPH/RUN – Consensus Forecasts “Sunny Skies” in 2H26 for Resi Solar; Wood Mackenzie Says Down ~40%; One of them is Wrong; we Rate all Three SELL

By Gordon L. Johnson II

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…

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June 10, 2026

GLJ SOLAR PRICING UPDATE – 6/10/2026: Solar Prices (across all substrates) Implode Coming out of China’s SNEC 19th Int’l PV Power Generation & Smart Energy Conf. June 3rd-5th

By Gordon L. Johnson II

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:…

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June 3, 2026

GLJ SOLAR PRICING UPDATE – 6/3/2026

By Gordon L. Johnson II

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….

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June 2, 2026

California Solar Initiative — April 2026 Data: The February Scare Was (Mostly) Noise

By Gordon L. Johnson II

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…

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