While the microinverter maker is still the target of an aggressive short, Roth Capital Partners has reiterated its “buy” at $6.50 per share, describing the IQ8 as a “game changer”.
The organization’s short-term energy outlook forecasts that 10.3 GW-AC of solar will be installed in 2019, a 7% growth from 2018 – but for 60% of this solar to come online in December.
While the duties make importing solar from China even more impractical, they are unlikely to have a significant impact on trade flows or on the U.S. market, with Chinese manufacturers outsourcing operations overseas.
U.S. President Donald Trump has asked trade officials to consider increasing import duties from 10% to 25% on a list of products from China, including inverters, AC modules and non-lithium batteries.
The company has brought its operating margin to below -1%, as it fends off component shortages, short sellers and potential tariffs.
The PV maker plans to shift its 800 MW of E-Series production to its new NGT technology, as it records a massive loss on depreciation of its old equipment. The move was revealed in second-quarter figures featuring plenty of red ink.
As a leader in the global energy transition, California is putting some of the highest levels of solar and wind on its grid in the world to date. And while the state’s grid operator has made some progress, the integration of these resources is currently limited not by physics, but by market rules and operational practices.
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