Magazine Archive 2023

  Records tumble but not always for the right reasons. Twenty twenty-three has been another banner year for the solar industry and the numbers speak for themselves. Optimistic solar deployment forecasts tip global installations to exceed 400 GW in 2023. In an outcome that would’ve seemed impossible only a handful of years ago, a single […]

In December, the Invesco Solar ETF, an exchange-traded fund that tracks the MAC Global Solar Energy Index, underperformed relative to the S&P 500 and the Dow Jones Industrial Average. Jesse Pichel, of ROTH Capital Partners attributes this to a possible US interest rate hike and California’s moves to pull the plug on rooftop solar.

In January, the Invesco Solar ETF, an exchange-traded fund that tracks the MAC Global Solar Energy Index, outperformed relative to the S&P 500 and the Dow Jones Industrial Average. Roth Capital’s Jesse Pichel puts this down to big investments in US solar manufacturing and strong demand on both sides of the Atlantic.

The Invesco Solar ETF, an exchange-traded fund that tracks the MAC Global Solar Energy Index, under-performed relative to the S&P 500 and Dow Jones Industrial Average (DJIA) in February. Roth Capital’s Jesse Pichel attributes this to inflation uncertainty and concern over expected interest rate hikes.

The Invesco Solar ETF, an exchange-traded fund that tracks the MAC Global Solar Energy Index, under-performed relative to the S&P 500 and the Dow Jones Industrial Average (DJIA) in March. Jesse Pichel, of Roth Capital Partners, attributes this to the worsening situation for US module imports from China.

The Invesco Solar ETF, an exchange-traded fund that tracks the MAC Global Solar Energy Index, under-performed relative to the S&P 500 and Dow Jones Industrial Average in April. Jesse Pichel, of Roth Capital Partners, attributes this to stagnation in the US residential market and an expected decline in California thanks to new net metering rules.

The Invesco Solar ETF, an exchange-traded fund that tracks the MAC Global Solar Energy Index, under-performed the S&P 500 in May and out-performed the Dow Jones Industrial Average (DJIA). Jesse Pichel, of Roth Capital Partners, attributes this to rising interest rates and new rules that are causing a residential PV slowdown in California.

During the month of June, the Invesco Solar ETF (exchange-traded fund), an ETF that tracks the MAC Global Solar Energy Index, under-performed relative to the S&P 500 and Dow Jones Industrial Average (DJIA). Jesse Pichel, of Roth Capital Partners, points to a decline in sales for California as the industry digests the impacts of the Net Metering 2 (NEM2) rules for exporting self-generated electricity to the grid. Longer term, however, the Inflation Reduction Act presents ongoing opportunity right across the solar supply chain.

Ahead of the RE+ renewable energy trade show in Las Vegas, solar investors and the industry are looking for signs of stability in a residential market which has experienced many bumps in the road. Residential stocks substantially under-performed utility-scale solar shares, and the broader market, in July 2023, says Jesse Pichel of Roth Capital Partners.

The Invesco Solar exchange-traded fund (ETF) TAN under-performed relative to the S&P 500 and the Dow Jones Industrial Average (DJIA) in August. Roth Capital Partners’ Jesse Pichel attributes this to pessimism around United States residential PV and rising interest rates, which are restricting access to capital for some.