Solar Industry is considered to be the fast-growing industry around the globe. This industry is entered into the new era of growth with an increase in customer demands, innovation, and cost competitiveness. The low cost of solar will be the main source for developing countries where we have seen the continued adoption of solar energy, especially in separated areas where extending the existing grids system isn’t a good choice financially.
The companies in the solar industry are involved in the selling of photovoltaic installation products, as well as solar renewable energy certificates. Some companies are engaged in designs, development, manufacturing, and selling solar ingots, wafers, cells, modules, and other solar power products. There are various other companies that have different services and products in this industry.
Here’s a look at how the solar industry has evolved and where it’s headed in 2020:
SPI Energy Co. Ltd. (NASDAQ: SPI)
SPI Energy Co. Ltd. (NASDAQ: SPI) last closed at $9.99, in a 52-week range of $0.55 to $46.67. SPI Energy Co. Ltd. has earlier revealed that it has launched EdisonFuture, Inc., a wholly-owned subsidiary of SPI Energy, to design and develop electric vehicles (“EV”) and EV charging solutions. The company disclosed that this is an important milestone for SPI Energy.
Sunrun Inc. (NASDAQ: RUN)
Sunrun Inc. (NASDAQ: RUN) stock soar by 9.62% to $66.46. The most recent rating by KeyBanc Capital Markets, on July 13, 2020, is at an Overweight. Previously, CHANEL has revealed that it has committed $35 million toward solar energy projects for low-income multifamily households with Sunrun Inc. Sunrun Inc. market cap has remained high, hitting $7.69 billion at the time of writing.
JinkoSolar Holding Co. Ltd. (NYSE: JKS)
JinkoSolar Holding Co. Ltd. (NYSE: JKS) Shares headed rising, higher as much as 8.41%. The most recent rating by Credit Suisse, on September 24, 2020, is at an Outperform. Previously, JinkoSolar Holding Co. Ltd. (JKS) has announced the second-quarter results ended on June 30, 2020. Its module shipment increased in Q2 as compared to Q1. Its total revenues were RMB8.45 billion (US$1.20 billion), exceeding JinkoSolar’s guidance range of US$1.10 billion to US$1.18 billion.
SunPower Corporation (NASDAQ: SPWR)
SunPower Corporation (NASDAQ: SPWR) rose 5.13% after gaining more than $0.52 on Friday. SunPower Corporation (SPWR) has earlier secured financing commitments from Hannon Armstrong Sustainable Infrastructure Capital, Inc. and other capital providers for its residential solar lease program, as well as its new solar plus storage program, SunPower Equinox system with SunVault™ storage.
Canadian Solar Inc. (NASDAQ: CSIQ)
Canadian Solar Inc. (NASDAQ: CSIQ) stock soar by 7.63% to $32.18. The most recent rating by Cascend Securities, on August 16, 2019, is at a Buy. Canadian Solar Inc. (CSIQ) has issued a statement in a patent lawsuit filed by Solaria in April 2020 in the U.S. District Court in Oakland, California, entitled The Solaria Corporation v. Canadian Solar Inc. CSIQ said that none of the products at issue in the case infringe the Solaria patents. Solaria withheld key evidence from the U.S. Patent Office when seeking its patents and this, among other reasons, renders the asserted claims both invalid and unenforceable.
Enphase Energy Inc. (NASDAQ: ENPH)
Enphase Energy Inc. (NASDAQ: ENPH) rose 6.07% after gaining more than $4.21 on Friday. Enphase Energy Inc. (ENPH) has earlier hosted a Made in Mexico event at the Flex manufacturing facility in Guadalajara, Mexico. The Company was honored to welcome Christopher Landau, the U.S. Ambassador to Mexico, to the event as he received a facility tour and overview of Enphase’s investment in Mexico.
Sunworks Inc. (NASDAQ: SUNW)
Sunworks Inc. (NASDAQ: SUNW) shares were trading down -46.82% at $2.09 at the time of writing on Friday. Sunworks Inc. (NASDAQ: SUNW) share price went from a low point around $0.29 to briefly over $8.50 in the past 52 weeks, though shares have since pulled back to $2.09. SUNW market cap has remained high, hitting $65.40M at the time of writing, giving it a price-to-sales ratio of more than 1. If we look at the recent analyst rating SUNW, ROTH Capital downgraded coverage on SUNW shares with a Neutral rating.
First Solar Inc. (NASDAQ: FSLR)
First Solar Inc. (NASDAQ: FSLR) last closed at $63.05, in a 52-week range of $28.47 to $81.87. Analysts have a consensus price target of $68.74. First Solar Inc. (FSLR) has moved up 121.46% from its 52-weeks low and moved down -22.99% from its 52-weeks high. First Solar Inc. has a total market capitalization of $6.50 billion at the time of writing.
Vivint Solar Inc. (NYSE: VSLR)
Vivint Solar Inc. (NYSE: VSLR) Shares headed rising, higher as much as 9.56%. The most recent rating by JMP Securities, on July 07, 2020, is at an Mkt perform. Vivint Solar Inc. (VSLR) share price went from a low point around $3.17 to briefly over $36.55 in the past 52 weeks, though shares have since pulled back to $36.43. VSLR market cap has remained high, hitting $4.19 Billion at the time of writing.
Sunnova Energy International Inc. (NYSE: NOVA)
Sunnova Energy International Inc. (NYSE: NOVA) last closed at $26.52, in a 52-week range of $6.12 to $29.61. Analysts have a consensus price target of $30.70. Sunnova Energy International Inc.’s market cap has remained high, hitting $2.25 Billion at the time of writing.
