2021 followed 2020 as another record-breaking year for deployment in the renewable energy sector, and experts say the trend will continue in 2022.
The Energy Information Administration ‘EIA’ has announced planned deployments for 21.5 GW of solar and 7.6 GW of wind in the U.S. in 2022, based on surveys of developers through October 2021. For utility-scale solar, that would surpass the estimated 15.5 GW of solar additions in 2021.
The green energy revolution is coming and investors are clamoring to capitalize on it before it arrives. The simplest and most accessible exposure comes in the form of solar energy.
A few solar companies for renewable growth investors to pay attention to include:
–Daqo New Energy Corp. (NYSE: DQ) a manufacturer of high-purity polysilicon for the global solar PV industry, released extremely strong numbers recently, DQ’s P/E ratio of 4.42 on sales of $1.68B and income of $749M is well below the sector’s average P/E of 64.67 (NYU).
-First Solar Inc. (NASDAQ: FSLR) is among the largest pure-play solar companies. The company has reported rising sales and a 20% operating margin.
–Ascent Solar Technologies, Inc. (OTCMKTS: ASTI), is a value play in the sector with extremely promising numbers. Its recent filing indicated:–Revenue increase of 812%
–Improved cash balance from $0.17M to $6M–Aligning with a leading German agrivoltaic thin-film solar tube maker to secure a strategic $2.5M capital infusion in January 2021, as well as a multi-million dollar long-term supply agreement in September 2021
–Completing delivery on a supply contract with a developer of advanced unmanned, helium-filled airships in May 2021;
–Regaining its status as a current public filer with the SEC in May 2021;
–Being recognized for exceptional device stability during space flight experiments while also receiving an Innovation Award at the Defense TechConnect Conference in October 2021
–Completing a strategic capital raise of $10M from the Company’s largest stakeholder between August and November 2021.
-JinkoSolar Holding Co. Ltd. (NYSE: JKS) is another enticing growth stock prospect. The company just announced it has delivered its bifacial modules to a 204MW Solar Power Plant in Kozani, Western Macedonia, Greece. The Kozani project consists of 18 project sites adding up to a total of 204MW capacity. JinkoSolar has delivered more than 500,000 bifacial modules to juwi Hellas Renewable Energy Sources S.A. The Kozani project was inaugurated on April 6, 2022, and will deliver up to 320 million kilowatt-hours per annum when fully ramped up, supplying electricity to more than 75,000 households.
Enphase Energy Inc. (NASDAQ: ENPH) operates through partnerships. The company’s strategy is to power the solar infrastructure through battery technology and systems software. In fact, the company just reported it has seen growing deployments of the Enphase Energy System, powered by IQ™ Microinverters and IQ™ Batteries.
Residential battery capacity is growing in Nevada, with forecasts estimating deployments will multiply nearly six-fold by 2026, according to the most recent U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie.
Investors interested in capitalizing on the growth of solar energy should start their research with Daqo New Energy Corp. (NYSE: DQ), First Solar Inc. (NASDAQ: FSLR), Ascent Solar Technologies, Inc. (OTCMKTS: ASTI), JinkoSolar Holding Co. Ltd. (NYSE: JKS), and Enphase Energy Inc. (NASDAQ: ENPH).
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