To close last year, the U.S. was on pace to install a 19 gigawatts of new solar capacity for the year of 2020 — a new record. That comes from Wood Mackenzie and the Solar Energy Industries Association.
This record is set to be beaten in 2021 if you believe the messaging from the new caretakers of Washington DC. That pace is set to be matched by a similar progression going in the EU.
Underlying drivers include supportive policies in major markets around the world, the greening push for electric grids, and a tsunami of capital earmarked for the energy transition ahead.
With that in mind, we take a look at a few of the more interesting names in the solar energy space today, including: Solaredge Technologies Inc. (NASDAQ: SEDG), Green Stream Holdings Inc. (OTC US: GSFI), and SunPower Corporation (NASDAQ: SPWR).
Solaredge Technologies Inc. (NASDAQ: SEDG) trumpets itself as a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress.
SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions.
Solaredge Technologies Inc. (NASDAQ: SEDG) recently announced today the appointment of Yogev Barak as Chief Marketing Officer of SolarEdge and the appointment of SehWoong Jeong as Chief Executive Officer of its subsidiary, Kokam.
“I am excited to have Yogev and SehWoong join our senior management team and I am confident the leadership and industry experience they bring will help us continue to grow in the solar market and new segments we are addressing,” said Zvi Lando, CEO of SolarEdge Technologies, Inc.
And the stock has been acting well over recent days, up something like 6% in that time. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -10%.
Solaredge Technologies Inc. (NASDAQ: SEDG) managed to rope in revenues totaling $338.1M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -17.6%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($1.2B against $382.5M).
Green Stream Holdings Inc. (OTC US: GSFI) boasts next-generation solar greenhouses constructed and managed by Green Rain Solar, LLC, a Nevada-based division, utilize proprietary greenhouse technology and trademarked design developed by world-renowned architect Mr. Antony Morali. The Company is currently targeting high-growth solar market segments for its advanced solar greenhouse and advanced solar battery products.
The company sees “a new era for Renewable Energy and its Solar Utilities/Financing model as stocks rise in advance of the inauguration of Joe Biden as the 46th President of the United States,” according to its most recent release.
Green Stream Holdings Inc. (OTC US: GSFI) most recently announced the appointment of Mr. James C. DiPrima as the new corporate Chief Executive Officer. Mr. James C. DiPrima has a Bachelor of Science in Business Administration from Creighton University, Omaha, Nebraska. His career includes 40 years of finance and accounting in both the public and private sectors beginning his career at Deloitte & Touche.
“I am eager to expand the already existing opportunities that Green Stream’s innovative solutions will provide to commercial solar energy markets on the East Coast. There is unlimited potential in this segment of the renewable energy space,” commented James C. DePrima, CEO.
GSFI shares have been booming higher over the past six weeks, breaking out above the stock’s 200-day MA and ripping higher to close out last week. In all, shares of the stock are up over 500% since the holidays, with momentum accelerating in recent trade as the sector picks up interest.
Green Stream Holdings Inc. (OTC US: GSFI) has yet to begin booking revenues, but the company has put in place a fertile pathway to potential strong results in the future given its positioning and range of projects in one of the most promising market spaces for investors over coming years.
SunPower Corporation (NASDAQ: SPWR) operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.
SPWR also offers commercial rooftop and ground-mounted solar power systems, and residential mounting systems, as well as utility-scale photovoltaic power plants. In addition, the company provides post-installation operations and maintenance services.
SunPower Corporation (NASDAQ: SPWR) recently announced the election of Suzanne Leta, head of policy and strategy, to the executive committee of the Solar Energy Industries Association (SEIA) Board of Directors.
“Without question, 2021 is shaping up to be another exciting year for solar and energy storage,” said Abigail Ross Hopper, President and CEO of SEIA. “Suzanne’s expertise, energy and dedication will be an instrumental part of our ability to meet SEIA’s goals in the Solar+ Decade. SEIA has already benefited from Suzanne’s involvement over the years, and together we will advance aggressive clean energy goals and invest in modern infrastructure and a diverse workforce.”
The stock has suffered a bit of late, with shares of SPWR taking a hit in recent action, down about -7% over the past week.
SunPower Corporation (NASDAQ: SPWR) generated sales of $274.8M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of -21.9% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($341.3M against $754.3M, respectively).
DISCLAIMER: EDM Media LLC (EDM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. EDM is NOT affiliated in any manner with any company mentioned herein. EDM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. EDM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. EDM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed EDM has been compensated eleven hundred dollars for news coverage of the current press releases issued by Green Stream Holdings Inc. by a third party.
EDM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and EDM undertakes no obligation to update such statements.
EDM Media LLC