– Sectors – Renewable Energy

November 5, 2024

GLJ Solar Weekly – California Solar Initiative “Data Dump” for 3Q24 & Sep. ’24 Provide Insights Into U.S. Solar Market and SolarEdge/Enphase

By Gordon L. Johnson II

Update from California Solar Initiative (“CSI”) – Pulse on US Solar Market Thru Sep. 2024 (3Q24 Solar Market Sales in California Down -43.5% YoY & -0.6% QoQ, with Sep. 2024 Sales Down -32.8% & -7.4% YoY…

November 4, 2024

How Have Solar Stocks Performed 1-Month, 3-Months, and 6-Months Out After the Past 4 U.S. Presidential Elections?

By Gordon L. Johnson II

How Have Solar Stocks Performed, Post Election, Since Obama was First Elected (i.e., Nov. 5th, 2008)? In this note we look at how the Invesco Solar TAN ETF Index has performed over the last four…

October 30, 2024

GLJ Solar Weekly – (1) Fireside Chat w/ Largest US Distributor Provides Insights into How US Demand is Trending + (2) Chat w/ Large Chinese Hedge Fund Sheds Light on Bruited Domestic Chinese Solar Output Caps + (3) Update on China Installs Through Sep. 2024

By Gordon L. Johnson II

Price Tracker. Applying a modified approach, we detail PV pricing data by substrate, segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, all solar substrates in China were…

October 2, 2024

GLJ Solar Weekly – August 2024 California Solar Initiative “Data Dump” – Is Tesla Taking Storage Share Away from Enphase?

By Gordon L. Johnson II

September 30, 2024

Has the Decision by China’s State Grid Company to Cut the Avg. Price it Pays for Solar Power to ~0.15 Yuan/kWh, from ~0.39 Yuan/kWh in 2023, Put Global Solar Demand at Risk? What’s up w/ U.S./Europe Solar Demand?

By Gordon L. Johnson II

On Sep. 23rd, China’s National Energy Administration (“NEA”) Released Data on Chinese Solar Installs Through Aug. 2024. In what follows, we provide an update on the state of the world’s most important solar market, China….

September 26, 2024

GLJ Solar Weekly – What Does Yesterday’s US Energy Information Administration (“EIA”) Solar Installation Update Mean for the US Solar Market in 2024E, How is US Solar Demand Trending in Aug./Sep., & Did SMA Solar Really Say That?

By Gordon L. Johnson II

Price Tracker. Applying a modified approach, we detail PV pricing data by substrate (Ex. 2-3), segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, price changes in China…

September 18, 2024

GLJ Solar Weekly – California Solar Initiative “Data Dump” for 2Q24 & Jul. ’24 + U.S. Energy Information Administration (“EIA”) YTD Installs/Prices + Is Lower-Margin Battery Demand Displacing Demand for Inverters Due to NEM 3.0?

By Gordon L. Johnson II

August 29, 2024

GLJ Solar Weekly – May ’24 California Solar Initiative “Data Dump” + Takeaways from “Fireside Chat” w/ Large US Solar Parts Distributor, & Is California About to Hit NEM 1.0 & 2.0 Customers w/ Retroactive Net Metering Cuts?

By Gordon L. Johnson II

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 1, 2024

2Q24 Review: Sunnova’s Very Existence Appears to be a Byproduct of its Willingness to (More) Aggressively Inflate the Value of Its Systems in Order to Collect U.S. Tax Credits (This is Not a Real/Sustainable Biz Model)

By Gordon L. Johnson II

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 12, 2024

GLJ Solar Weekly – U.S. Module Prices Collapsed this Week; &, Are the 2H24E Solar Bulls Missing a “Big Trouble in Little Europe” Set-Up Into Q2 Earnings?

By Gordon L. Johnson II

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 3, 2024

GLJ Solar Weekly – April ’24 California Solar Initiative “Data Dump” + Update on European Solar Markets (i.e., Germany + Italy + U.K. + Spain + Netherlands + France)

By Gordon L. Johnson II

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…

May 31, 2024

What Do Our Checks Suggest Around: (a) the Idea Solar Demand Will Benefit from a Surge in “AI” Powered Demand, (b) the Idea that China’s Xi Jinping will Force Chinese Solar Capacity Offline, & (c) the Idea that Section 45X Solar Production Tax Credits (“PTCs”) are Safe in a Trump Administration?

By Gordon L. Johnson II

Solar Stocks have Staged a Sharp Rally Over the Past Several Weeks… Mainly… on: (1) Two Wall Street-Manufactured Hype Stories, as well as (2) an Assumption, Mainly by FSLR Bulls, that the Production Tax Credits…

May 30, 2024

GLJ Solar Weekly – Despite Recent Calls that “AI” Will Drive Sig. Solar Demand, Looking at the Mar. ’24 California Solar Initiative “Data Dump”, Solar Demand in the Real World Continues to Be Lackluster

By Gordon L. Johnson II

Price Tracker. Applying a modified approach, we detail PV pricing data by substrate (Ex.16-17), segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, price changes in China for…

April 26, 2024

GLJ Solar Weekly – Does the Feb. ’24 California Solar Initiative “Data Dump” + Our Recent Fireside Chat w/ the Largest Solar Distributor in the US = Spell Big(ger) Problems for the MLPE Inverter Vendors?

By Gordon L. Johnson II

Price Tracker. Applying a modified approach, we detail PV pricing data by substrate (Ex.13-14), segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, price changes in China for…

April 11, 2024

GLJ Solar Weekly – Does the Jan. ’24 California Solar Initiative “Data Dump” Suggest Things are About to go from Bad to Worse for SEDG/ENPH? And, Update on German/U.K./Italian Solar Installs YTD

By Gordon L. Johnson II

Price Tracker. Applying a modified approach, we detail PV pricing data by substrate (Ex. 1-2), segmented by Chinese and global prices, tracked each Wednesday by EnergyTrend, PVInsights, and PVInfolink, respectively. This week, price changes in China…