solar power

Solar Growth Stocks, Must Buy in December

Solar energy might be growing faster than anyone has imagined. Now, the United States has almost 200 megawatts of installed solar power capacity at the end of 2009. After that, it added more at least that much in seven of the first nine months of 2019. Then, the nation finished September with 32,000 megawatts installed solar power capacity from utility-scale infrastructure, and another 15,000 megawatts or so of small-scale (mostly rooftop) solar installations. Adding them up, they'll sum up to generate about 3% of the country's total electricity this year. This may sound impressive, but this barely scratched up the surface of solar energy's full potential. Soon enough, the United States could start building 18,000 megawatts of utility-scale solar per year. And that long-term growth potential makes Enphase Energy and SolarEdge Technologies solid growth stocks to buy in December despite worries regarding premium valuations or short-seller reports.

Growth of Solar

Now, NextEra Energy generates more electricity from the wind and sun than any other firm in the world. Aside from that, it owns more wind power capacity than all but seven countries. Then, it became one of the largest capital investors in the United States. This labeled was earned by being the country's leading developer of new wind and solar power infrastructure. To make it more precise, the firm has invaluable insight into the future of renewable energy in the United States. And that is the reason why investors should not skip their long-term projections. They are significantly more optimistic compared to other estimates floating around. In addition to that, NextEra Energy believes that the United States can build enough new onshore wind and utility-scale solar to derive up to 40% of its total electricity from the renewable duo by 2030. Moreover, solar energy is a driving force behind that projection. Particularly, NextEra Energy projects that solar energy will be the second-lowest-cost source of electricity production around 2023. And this will happen even when energy storage is included and also as the investment tax credit (ITC) steps down in value. Hitting that inflection point will come out in at least 18,000 megawatts of utility-scale solar being built per year from 2023 to 2030. Also, that excludes rooftop solar additions in the budding commercial and residential markets. It is also likely that NextEra Energy is wrong, or is just juicing the numbers because it has fixed interest in doing so. However, cross-checking the firm's estimates against utility-level development plans implies that the optimistic case might result in being the most realistic of the mid-term projections given. And that bodes well for Enphase Energy and SolarEdge Technologies.

Microinverters

Both Enphase Energy and SolarEdge Technologies have built technology platforms around their industry-leading microinverters. This converts electricity created by solar panels from direct current to alternating current. Microinverters are a must component for every solar project, large or small, and must follow with strict codes in the U.S. electrical system (and similar regulations internationally). That made a fantastic growth opportunity for both firms to exploit with their simple, reliable, and value-creating products.

   

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