Stocks Discussed: (NYSE:
JKS), (NASDAQ: CSIQ).(OTCQB::SING) (
NASDAQ: ENPH) (NASDAQ: SPWR).
Tesla’s (NASDAQ: TSLA)
CEO Elon Musk, @elonmusk, tweeted Friday, “The coronavirus panic is dumb.”
Point Roberts
WA, Delta BC, March 9, 2020 – (Investorideas.com Newswire)
-Investorideas.com, a
global news source and leading investor resource covering cleantech and
renewable energy stocks (Renewableenergystocks.com) issues today’s edition of the Cleantech and Climate Change Podcast, talking about today's problems and
solutions for the future.
Listen to the Podcast:
Today we are
looking at how the coronavirus (COVID-19) is impacting the renewable energy
sector short term and how volatility is playing out. It’s not surprising as the
coronavirus is creating turmoil in a lot of manufacturing and supply chains.
Analysts,
including Zacks are reporting the coronavirus could impact the
solar industry short- term as the China Photovoltaic Industry Association
reported that overseas plants could be hurt as they will be unable to receive
components from China due to flight restrictions.
“Should the epidemic of the virus continue beyond the first
trimester and extend to a larger number of regions, as is currently the case in
Korea and Italy, then the world’s use of renewable energy could very well be
slowed down,” said Ali
Izadi-Najafabadi, Head of Asian BloombergNEF research.
The top solar
manufacturers in the world are in China, with some of the stocks to watch;
JinkoSolar Holding Co (NYSE: JKS), and Canadian Solar (NASDAQ: CSIQ).
The sector
also took a direct hit when news broke, “A senior executive in China’s power
and renewables industry was among the early victims of the country’s deadly
coronavirus outbreak, Recharge can reveal, as sector insiders warned the health
emergency could damage plans to build wind projects ahead of government subsidy
deadlines.
China has
said most factories are slowly going back into operation and workers are
retuning. In the interim, companies may look to US suppliers for solar panels
and there is a feeling that short term solar prices may rise. This will be
unfortunate as solar, for the first time in the last year, was cost efficient
and competitive against other energy sources. Ironically, as this unfolds crude
oil prices have been annihilated, dropping over 30%, hit hard this weekend as a
price war is erupting.
Cleatech
Icon, Tesla’s (NASDAQ: TSLA) CEO, Elon Musk @elonmusk tweeted
Friday, “The coronavirus panic is dumb.”
As a US solar
manufacturer, Tesla reported in their last quarter, “In Q4, we continued to
ramp both Solarglass Roof production as well as installations. In addition to
Tesla installers, we have also partnered with several roofing companies to
support installations to fulfill demand for Solarglass Roof.”
“After
organizing several roofing company training days at our training homes in
Fremont, we already demonstrated dramatically shorter installation times versus
previous versions of this product. Solarglass tiles are made in our Gigafactory
New York, and we are hiring hundreds of employees at this facility.”
Other US solar
stocks/manufacturers to take a look at as this unfolds include California based
Enphase Energy ( NASDAQ:
ENPH) and SunPower Corp. (NASDAQ: SPWR).
Another small
player in the US solar market, SinglePoint Inc. (OTCQB: SING) and its subsidiary, Direct Solar of
America announced in late February, “Last week the
company reaffirmed previous announcements regarding the 2019 Unaudited Gross
Revenue of $2,000,000 in its residential solar business unit. It is important
to note that these revenue numbers are only from the time period from
acquisition, May 2019 until the end of the year and do not represent what the
full annualized revenue opportunity. Direct Solar of America continues to track
a minimum of $8-$10 Million in 2020 Residential Solar Sales and is on pace to
meet or exceed total targeted solar bookings in February 2020. “
Most analysts feel there will be
a slowdown in the solar industry from the coronavirus but it will be short term.
The battery and wind markets could also be impacted but at this point, it’s
just a guessing game until the global impact is realized.
Keep in mind at this point these
are all just estimates, so don’t panic and look for some green as reality
starts to take hold. The cleantech sector was on a bull run prior to this and
as big money keeps investing in the sector to address climate change issues, it
will find its way back.
The mass
hysteria in supermarkets and stock markets is insane. Oh and if you are buying into the toilet paper panic- buy recycled!
Just a reminder this cleantech
and climate change podcast is only one of several sectors and themes we cover.
We also have an investing in cannabis podcast, Investor Ideas Potcasts, Cannabis News and Stocks on the
Move, which I can say without hesitation is one of the best out there for investors looking at the sector.
Last week’s March 5th
edition is a great example of the kind of insight
you will get from host Taylor. You can find the cannabis podcasts on our main
audio page at https://www.investorideas.com/Audio/ or on our top template
If you would
like to be a guest on this podcast and tell your story please call me at 800
665 0411
Thanks, that’s it for today. Do
something good for this beautiful planet each and every day.
Podcast host: Dawn Van Zant
The
Investorideas.com podcasts are also available on iTunes, Spotify, Tunein,
Sticher, Spreaker.com, iHeart.com and Google Play Music.
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