The solar stocks we’ve identified are looking to establish their presence in the solar energy industry after taking a hit in 2018
SmallCapPower | January 11, 2019: Unlike 2017, 2018 was a very difficult year for the renewable energy industry. With import tariffs hitting the United States in the beginning of 2018, there was a strong decline in demand. The Chinese solar energy market took a 40% dip after China reduced its own solar subsidies. With 64.6% of installations coming from the United States and Chinese markets, Canada felt the impact too. Today we have uncovered four North American-listed solar stocks that are looking to revive themselves in 2019 by entering into partnerships or agreements.
*Share prices as at close January 9, 2019, data obtained from S&P Capital IQ.
Real Goods Solar, Inc. (NASDAQCM:RGSE) – $0.68
Renewable Energy Equipment & Services
Founded in 1978, Real Goods Solar is a residential and small business company in the United States. As a solar energy engineering, construction, and procurement company, Real Goods Solar offers two main services: 1) Its residential segment specializes in the installation of solar energy systems for homeowners and commercial businesses; 2) Its innovative POWERHOUSE segment focuses on manufacturing and selling solar shingles. On January 8, RGS announced its partnership with Behalf, a short-term financing business, to help grow its solar business. With hopes to improve the Company’s cash flow through Behalf’s services, RGS is looking to make solar energy more affordable by encouraging local roofing companies to expand their solar business.
- Market Cap: $53.8 million
- 7-Day Total Return: -0.7%
- 1-Month Total Return: -9.4%
Eguana Technologies Inc. (TSXV:EGT) – $0.21
Renewable Energy Equipment & Services
Eguana Technologies, a Canada-based company, specializes in the design and manufacturing of power electronics for worldwide commercial and residential energy storage systems. Through its patented energy storage Bi-Direx technology for solar photovoltaic systems, small wind turbines, and a variety of other energy storage systems, the Company aims to become global leader in the residential and small commercial energy storage industry. Looking to further establish its North American presence, Eguana announced its partnership with Hannah Solar on January 2. The two hope to bring energy storage systems to homeowners in the United States, especially Georgia and North Carolina.
- Market Cap: $46.8 million
- 7-Day Total Return: +5.0%
- 1-Month Total Return: +2.4%
Sunworks, Inc. (NASDAQCM:SUNW) – $0.48
Renewable Energy Equipment & Services
Sunworks focuses on providing the residential, commercial, industrial, and agricultural markets in the United States with photo voltaic based power systems. Targeting the West Coast, the Company provides a variety of services including the designing, arranging, managing, financing and installing systems ranging from 2 kilowatts to multi-megawatts. Working to establish their national presence through expanding regional and local offices, the Company announced its new partnership with a national grocery store chain on November 7, 2018. Under the agreement, Sunworks will provide the chain with engineering and construction for 10-15 of its stores on the West Coast. Over the next two years, it hopes to drive renewable energy through this agreement.
- Market Cap: $12.4 million
- 7-Day Total Return: +20.3%
- 1-Month Total Return: +8.1%
Solar Alliance Energy Inc. (TSXV:SOLR) – $0.035
Renewable Energy Equipment & Services
Solar Alliance Energy engages in providing energy solutions to Canada, the United States, and Ireland. With a focus on residential, commercial, and industrial solar installations, the Company creates wind and solar projects, serving 150,000 homes. With several projects underway, the Company announced on December 3, 2018 that it has entered into an agreement with Onmi Group to design and build a combined rooftop and carport with solar installations at the Manhattan Beach Towers.
- Market Cap: $3.4 million
- 7-Day Total Return: +16.7%
- 1-Month Total Return: +0.0%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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