KITCHENER, ON, Jan. 8, 2025 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, which is part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), has signed contracts with Copenhagen Infrastructure Partners (CIP), through its flagship fund CI IV. The contracts cover the delivery of 2 GWh DC of battery energy storage systems for two landmark projects in Scotland: the 1 GWh DC Coalburn 2 Project, situated in South Lan ...

Industry Overview - The Zacks Solar industry is divided into companies involved in designing and producing solar modules, panels, and cells, and those engaged in installing grids and solar power systems [2] - Photovoltaic (PV) solar accounted for 64% of new electricity-generating capacity added to the U S grid through Q3 2024, making it the dominant form of new generating capacity [2] Growth Trends - The U S solar industry installed 8 6 GWdc of new solar capacity in Q3 2024, a 21% year-over-year increase [3] - The U S Energy Information Administration expects 25 GW of solar generation capacity to come online in 2025, increasing total solar generation capacity to 153 GW from 128 GW in 2024 [3] Inflation Reduction Act Impact - The Inflation Reduction Act (IRA) has been a significant growth catalyst, with clean energy investments increasing 71% to $493 billion from H2 2022 to H1 2024 [4] - Utility-scale solar investments increased 56% from pre-IRA levels, and the IRA is expected to boost solar deployment by more than 40% from 2027 to 2032 [4] Challenges - Residential solar installations in the U S declined 39% year-over-year in Q3 2024 due to elevated interest rates and poor demand [5] - SEIA projects flat growth in the residential solar segment over the next five years due to power sector challenges, labor shortages, and interconnection delays [5] - China's dominance in solar module manufacturing, accounting for over 80% of global capacity, has led to oversupply and downward pressure on U S module prices [6] - Solar PV manufacturing costs in China are 20% lower than in the U S, posing a cost competitiveness challenge for U S manufacturers [6] Industry Performance - The solar industry has underperformed, with stocks collectively losing 30 3% over the past year, compared to a 4% growth in the Oils-Energy sector and a 24 4% surge in the S&P 500 [10] - The industry's current EV/EBITDA ratio is 12 90X, compared to the S&P 500's 18 32X and the sector's 3 36X [12] Key Companies - Nextracker shipped the first U S -manufactured solar trackers, achieving 100% domestic content value under the IRA, with a 14 2% improvement in fiscal 2025 sales estimates [15][16] - Canadian Solar executed agreements to deliver 188 MWh DC and 127 MWh DC battery energy storage systems, with a 21 2% improvement in 2025 sales estimates [18][19] - Enphase Energy announced initial shipments of its IQ Battery 5P, with a 27 7% improvement in 2025 sales estimates [20][21]

2024 has been an overwhelming year for the global solar industry, with photovoltaic (PV) installations witnessing immense growth worldwide. Impressively, the worldwide solar industry reached a historic milestone of 2 terawatts (TW) of installed solar PV capacity in November 2024, per a report from the global solar council. The significant growth of the industry in 2024 remains commendable, considering the slowed demand trend observed in Europe’s solar market, with this region constituting 19% share of the g ...

BuildingBenjamins is a free stock picking and market commentary investment newsletter. Building Benjamins is the DBA (doing businesses as) publishing entity for Tradition Investment Management, LLC, a registered investment adviser. Benjamin Halliburton, our founder, also founded Tradition Capital Management in 2000 and was named “PSN Manager of the Decade” for All-Cap in the 2000s and “PSN Manager of the Decade” for Dividend Value in the 2010s. Since starting his investment career at Merrill Lynch in 1986, ...

Canadian Solar Inc. (CSIQ) recently announced that its e-STORAGE subsidiary has clinched a contract to provide a 188 megawatt-hour (MWh) direct-current DC to the Gaia project and a 127 MWh DC Midpoint project in Hill County. The company also inked a key contract with Sunraycer Renewables LLC. to sell up to 2 gigawatt-peak (GWp) of high-efficiency solar modules for multiple Sunraycer projects.Details of CSIQ’s Contract Sunraycer's forthcoming projects will use up to 2 GWp of Canadian Solar's latest high-effi ...

KITCHENER, ON, Dec. 12, 2024 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that it has executed three significant agreements with Sunraycer Renewables LLC ("Sunraycer"), an Annapolis, Maryland-based renewable energy platform. These include battery energy storage supply and commissioning agreements for two projects in Texas, as well as the purchase of up to 2 GWp of high-efficiency solar modules for various Sunraycer projects.Under the agreements, e-ST ...

Canadian Solar 3Q24 Earnings Call December 5, 2024 Canadian Solar Inc. Safe Harbor Statement This presentation has been prepared by the Company solely to facilitate the understanding of the Company's business model and growth strategy. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or th ...

Canadian Solar (CSIQ) came out with a quarterly loss of $0.31 per share versus the Zacks Consensus Estimate of a loss of $0.44. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 29.55%. A quarter ago, it was expected that this solar wafers manufacturer would post a loss of $0.01 per share when it actually produced earnings of $0.02, delivering a surprise of 300%.Over the last four quarters, the ...

KITCHENER, ON, Dec. 5, 2024 /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ) today announced financial results for the third quarter ended September 30, 2024.Highlights 16.4% gross margin, above guidance of 14% to 16%. Grew e-STORAGE contracted backlog to record $3.2 billion, as of November 30, 2024. Achieved final closing of BlackRock's $500 million investment in Recurrent Energy.Dr. Shawn Qu, Chairman and CEO, commented, "The solar industry faces significant external ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the ...