Financialnewsmedia.com news commentary
PALM BEACH, Fla., December 8, 2020 / PRNewswire / – According to Bloomberg research, global demand for solar energy for households “went through the roof” in 2020. Bloomberg New Energy Finance reported that residential solar panels in the US were 21% higher in the first seven months of this year than in the same period in 2019. BloombergNEF attributed American demand to a pandemic that increased energy costs households became more aware of going to the DIY Spree.
Along with solar demand, the US has just broken its record for energy storage. The third quarter of 2020 broke the record for new storage deployments across the country, wiping out the second quarter of 2020 (which previously held the record) by 240%, according to the latest report from the US Energy Storage Monitor. Although front-of-the-meter systems led the way on the utility scale, the residential segment also had a record quarter.
With the increasing demand for residential solar and energy storage solutions, four of the most active companies are: NeoVolta (OTCQB: NEOV), Tesla (NASDAQ: TSLA), Jinko Solar (NYSE: JKS), Canadian Solar (NASDAQ: CSIQ), and Array Technologies (NASDAQ: ARRY).
NeoVolta (OTCQB: NEOV) – San Diego is based on NeoVolta, whose shares are on the market $ 3.50 per share is the only pure energy storage company on this list. NeoVolta announced today that its orders from PMP Energy have been achieved $ 902,000, at the latest a reorder of $ 425,000. This is part of a three-year exclusive distribution agreement that the two companies signed in early 2020. In exchange for at least up to $ 15 million When ordering, PMP Energy offers dealers training and certification for the installation of the NV14 and NV24 storage systems from NeoVolta. To date, PMP Energy has trained and certified distributors in four states and in the field of Puerto Rico.
This latest order followed the initial from PMP Energy $ 473,000 The purchase of NeoVolta systems was the first reorder of likely monthly orders of this size or larger.
NeoVolta recently announced a 211% quarter-over-quarter sales increase in the first quarter of 2021. The company reported that quarterly sales September 30, 2020 were USD 1,000,171, compared to $ 321,650 for the same quarter last year. With a dramatic increase in demand, NeoVolta doubled its production in 2020 and plans to quadruple capacity by the end of this year. For more information on NEOV and the latest news developments, please visit: https://www.neovolta.com/news/
Further developments in the solar and energy storage industry for private households are:
Tesla (NASDAQ: TSLA) – Tesla, the California-based manufacturer of electric vehicles whose shares are traded at around $ 593 per share, recently became the sixth largest American company in the US stock markets. Known for its electric cars, the renewable energy giant is a major global player in solar energy and storage. According to the company, Tesla’s rooftop solar installations tripled in the third quarter of 2020. in the Lauderdale County, Mississippithe solar roof V3 is installed on roofs in the world’s first intelligent neighborhood. And on Twitter, Tesla has urged people to buy its solar panels for the home before the federal tax credit drops from 26% to 22% in late 2020.
Meanwhile, the Powerwall has been Tesla’s flagship residential storage facility since its launch in 2015. The company installed its 100,000th Powerwall earlier this year, and the high demand has resulted in significant delivery delays. As units are getting harder to get hold of, Tesla has also increased the price of the Powerwall by roughly $ 500.
Jinko Solar (NYSE: JKS) – Jinko Solar, founded in 2006 and trading at around $ 61 per share is the world’s largest manufacturer of solar modules and offers a wide range of products for the commercial, commercial and private sectors. The ShanghaiThe company, with headquarters in 9 production sites worldwide and 14 overseas subsidiaries, has built a vertically integrated supply chain. Jinko stock prices rose 46.6% October 2020 how polls indicated a likely Democratic victory in the US presidential election and China The company has also signed a long-term purchase agreement for 100 tons of polycrystalline silicon in order to ensure a strategic supply of a raw material for the manufacture of solar modules. in the October 2020Jinko released its first household storage systems.
Canadian Solar (NASDAQ: CSIQ) – Founded in 2001, Canadian Solar trades near $ 40 per share is one of the world’s largest solar companies. Together with a portfolio of energy projects on a utility scale, solar modules and string inverters are manufactured for private households. On July 1, 2020The company celebrated Canada Day with the introduction of the high performance HiDM Series 5 solar panels for homes. Compared to standard solar modules, the HiDM5 offers a 37% higher roof system capacity. For the end of the quarter 30. SeptemberCanadian Solar announced that solar module shipments increased 33% year over year and net sales increased 20% year over year. The company expects to nearly double its production capacity by the end of 2021.
Array Technologies (NASDAQ: ARRY) – Array Technologies that are traded around $ 36 pro share is a global pioneer in the development and manufacture of floor-mounted solar systems. Founded in 1989, the Albuquerque-based company’s main product is the integrated system of steel girders, motors, gears and electronic controls known as a single-axis tracker. These systems track the sun from east to west, maintain the optimal orientation of the solar panels to the sun and increase their energy output. These single axis trackers have become the standard for utility scale projects, but can also be used for commercial and residential rooftop applications. To date, more than 20,000 Array Technologies trackers have been installed in homes.
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