SunPower management to meet virtually with Roth Capital » 10:2311/2611/26/21
Meeting to be held on…
Meeting to be held on December 2 hosted by Roth Capital.
USITC says tariffs on imported solar equipment continues to be necessary » 08:1711/2611/26/21
SOL, CSIQ, ARRY, SPWR, FSLR, JKS, SEDG, MAXN, SHLS, FTCI
The U.S. International…
The U.S. International Trade Commission, or USITC, announced on November 24 that it has determined that import relief provided beginning in 2018 to the U.S. industry producing crystalline silicon photovoltaic cells, whether or not partially or fully assembled into other products, continues to be necessary to prevent or remedy serious injury to the U.S. industry, and that there is evidence that the domestic industry is making a positive adjustment to import competition. The Commission will forward its report on its investigation and determination to the President by December 8 and the President will make the final decision on whether to extend the import relief, the USITC stated. The Commission's public report, "Crystalline Silicon Photovoltaic Cells, Whether or Not Partially or Fully Assembled into Other Products," will include the Commission's findings and will be available by December 29, the USITC noted. Publicly traded companies in the solar energy space include Array Technologies (ARRY), Canadian Solar (CSIQ), FTC Solar (FTCI), First Solar (FSLR), JinkoSolar (JKS), Maxeon Solar (MAXN), ReneSola (SOL), Shoals Technologies (SHLS), SolarEdge (SEDG) and SunPower (SPWR). Reference Link
ITC reportedly supporting tariff extension positive for First Solar, says Citi » 08:1211/2611/26/21
Bloomberg reported Wednesday that the U.S. International Trade Commission has determined that tariffs on imported solar equipment is still necessary, and is set to recommend an extension of tariffs on December 8. Citi analyst J.B. J.B. views this as positive for First Solar saying tariffs will keep costs elevated for competitors and support panel prices in the U.S. First Solar average selling prices on current 2023 bookings are already flat versus 2022, says the analyst, who models a 5% price increase in 2023.
Canadian Solar subsidiary signs battery storage agreement with CATL » 07:0211/2411/24/21
Canadian Solar's subsidiary CSI Solar signed a strategic cooperation framework agreement with Contemporary Amperex Technology, a provider of new energy innovative technologies. According to the agreement, CSI Solar and CATL will establish a strategic partnership to cooperate holistically in the areas of battery storage system solutions, supply of lithium-ion battery modules, operation and maintenance services of battery storage projects, and innovative renewable energy technology.
First Solar price target raised to $152.87 from $104.41 at GLJ Research » 06:5511/2311/23/21
GLJ Research analyst…
GLJ Research analyst Gordon Johnson raised the firm's price target on First Solar to $152.87 from $104.41 and keeps a Buy rating on the shares. The analyst says the Biden Administration's $1.9 trillion Build Back Better legislation provides a "very generous handout" to U.S. solar manufacturers like First Solar. The company stands to benefit from a nearly 50% taxpayer subsidy on production of up to what will become 6.0GW annually, Johnson tells investors in a research note.
Canadian Solar initiated with an Equal Weight at Wells Fargo » 16:3611/2211/22/21
Wells Fargo analyst…
Wells Fargo analyst Michael Blum initiated coverage of Canadian Solar with an Equal Weight rating and $44 price target. The vertically integrated solar power company expanded into battery manufacturing earlier this year, which Blum thinks is likely to be a key growth driver in the coming years. However, he expects continued average selling price and margin pressure due to the highly competitive nature of the solar panel market, telling investors that this dynamic could limit long-term EBITDA and earnings upside.
First Solar initiated with an Equal Weight at Wells Fargo » 16:3511/2211/22/21
Wells Fargo analyst…
Wells Fargo analyst Michael Blum initiated coverage of First Solar with an Equal Weight rating and $115 price target. The analyst projects the company to grow revenue at 3% annually over the next 10 years, driven by an acceleration of solar deployments as global economies push to de-carbonize. However, he expects continued average selling price and margin pressure due to the "highly competitive" nature of the solar panel market, which could limit First Solar's long-term EBITDA and earnings upside.
Charged: Ford not planning to make EV with Rivian anymore » 12:4611/2211/22/21
TSLA, F, RIVN, QS, FFIE, CSIQ, FSLR, JASO, SUNEQ, SPWR, TSL, YGE, BLNK
Welcome to The Fly's…
U.S. to imminently appeal bi-facial solar panel decision, says GLJ Research » 11:4411/2211/22/21
JKS, CSIQ, DQ, FSLR
Following checks with…
Following checks with government contacts, GLJ Research analyst Gordon Johnson believes the Department of Justice will file imminently an appeal to last week's decision made by the U.S. Court of International Trade that ended tariffs on bi-facial solar panels imported from Chinese solar module makers. Any uncertainly around potential tariffs on Chinese solar imports will be likely limit demand for Chinese solar panels in the U.S., Johnson tells investors in a research note. The analyst sees the likely appeal as negative for JinkoSolar (JKS), Canadian Solar (CSIQ) and Daqo New Energy (DQ) and positive for First Solar (FSLR).
First Solar announces Lightsource bp, bp sign multi-year orders for modules » 08:3811/2211/22/21
First Solar announced…
First Solar announced that Lightsource bp and integrated energy company bp have placed multi-year orders for up to 5.4 gigawatts, GW, combined of First Solar's advanced, ultra-low carbon thin film photovoltaic, PV, solar modules. As part of the deal, Lightsource bp and bp have placed firm orders for approximately 4.4GWDC of modules, with options for an additional 1GWDC. Lightsource bp has agreed to procure up to 4.3GWDC of modules for its US utility-scale projects, and bp will procure up to 1.1GWDC to power their projects being developed by Lightsource bp. bp acquired the projects as part of its net zero ambition and target to grow its net developed renewable generating capacity to 20GW by 2025 and 50GW by 2030. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. The framework agreements, the largest in First Solar's history, will provide modules scheduled to be delivered between 2023 and 2025 to support the companies' solar development pipelines in the United States. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. "The US solar industry is at an important inflection point where it must continue the charge towards delivering 45% of our country's electricity by 2050 while addressing the risks and uncertainty posed by increasingly volatile solar panel production, pricing, and supply," said Georges Antoun, chief commercial officer, First Solar. "This is where we come in. Our ability to help our customers manage these risks by providing long-term firm pricing and supply commitments, backed by First Solar's reputation, is a key differentiator. We're delighted that bp and Lightsource bp have placed their trust in us and our technology to help power their growth in the United States." In addition to the multi-year module sales agreement, First Solar also signed a memorandum of understanding to explore opportunities to source electricity from generation assets developed, owned and operated by Lightsource bp in Ohio, where First Solar operates the Western Hemisphere's largest solar manufacturing footprint.