The solar installations in the United States have reached a milestone with 2 million solar installations. In fact, the number of solar installations in the United States has officially surpassed 2 million, according to the latest data from Wood Mackenzie Power & Renewables and the Solar Energy Industries Association (SEIA). It is a breakthrough in the solar industry, as it took almost 40 years to install 1 million panels whereas it took only three years since then to reach 2 million. It is estimated that in the next two years the figure would cross 3 million.
However, according to Wood Mackenzie it should have actually taken two years to reach the 2 million installation figure. The prediction is indeed weird as the installation of the same has been underestimated by most of the market analysts. Thus, growth is noteworthy. There is a vivid explanation of the reason behind the prediction of Wood Mackenzie. The figures that we are talking about stand for the number of individual arrays – arrays on the roofs of homes which though comprise a minority of installed capacity, do make up the large majority of individual projects.
Challenges For Solar Power
For all its momentum, the U.S. solar market has not been without its challenges. Despite the decade of incessant growth feat, the U.S solar market collapsed in the first quarter of 2017. This was as a result of the decline in the residential solar market stemming from the decline of the SolarCity/Tesla. However, the market gained the drive and returned to the level it reached in late 2016.
There are several factors that constrained the growth according to Wood Mackenzie and SEIA. Tesla has acquired SolarCity and had dumped its door-to-door sales. Instead, it initiated sales through stores and online through websites. This resulted in the collapse in solar installation and Tesla’s market share.
Residential installations dropped 15 percent between 2016 and 2017, with Tesla’s share showing the most extreme decline during that period, dropping from 650 megawatts to 352 megawatts. There also had been a substandard possession by SunEdison which compelled Vivint Solar to pull back its sales efforts resulting in a collapse in installations. Thus, the only company emerging triumphant was Sunrun thereby making it one of the three biggest U.S. residential solar companies not to pull back from the market.
Trying extremely hard to grow with lower prices, Tesla has managed to gain customers online, thereby setting pressure of its counterparts. Success in gaining more customers, that too at lower costs, shall determine the time frame the industry would require to install its next million systems — and at what price. Largely due to the challenges of customer acquisition cost, Wood Mackenzie predicts residential growth at just 3.3 percent in 2019.
Despite This, Solar Is Starting To Shine
According to the forecast by Wood Mackenzie, the United States will reach 3 million solar installations in 2021, and 4 million in 2023. “The rapid growth in the solar industry has completely reshaped the energy conversation in this country,” said Abigail Ross Hopper, president and CEO of trade group SEIA. “This $17 billion industry is on track to double again in five years, and we believe that the 2020s will be the decade that solar becomes the dominant new form of energy generation.”
Looking at a bigger picture, the decline in the costs for lithium-ion batteries and a switch to time-of-use rates, the residential solar companies have started making provisions storage systems along with solar systems. This makes storage a prerequisite as one penetrates deep in key markets.
Blackberry Stock Price Corrects 23% In A Month, A Value Buy?
There was a time when BlackBerry Limited (BB) used to be one of the leaders of the telecommunication industry by virtue of its smartphones. However, the company’s glory days are well in the past and the stock declined by more than 15% recently after it released its results for Q1 2019. The stock is now trading less than $8 but at the same time, it is important to note that the company has managed to deliver as far as its top-line figures are concerned.
Poor Earnings Lower Blackberry Stock Price
The software and services division is now the company’s most important division. It has emerged as the biggest revenue generator for the Canadian company. Overall sales for Blackberry rose 16% year over year in the latest reported quarter.
However, in the software and services, it was a far more pleasing picture. Its GAAP revenues rose 27% year over year. The company seems to be on the right track in terms of its plan to turn around. But the market doesn’t seem to take a fancy to it. The reasons behind this might have something to do with allegations made by certain parties.
They say that the company uses non-GAAP methods to report earnings. If there is any kind of accounting cloud over a company, growth may be far away.
Where Does This Leave Blackberry Stock Price?
However, Blackberry has been quick to defend itself against these allegations. Financial disclosures of the company are fully SEC compliant. It remains to be seen whether the SEC takes an interest in the matter.
This problem has been the biggest reason behind the underperformance of Blackberry stock price. That’s despite the company’s decent performance. The acquisition of machine learning company Cyclane is also a positive development. But it remains to be seen how it affects Blackberry’s future growth.
Uber Technologies (UBER) Stock Price Hits $45 Mark Again; Are Delivery Stocks Set To Fly?
Uber Technologies (UBER) stock price hit its IPO level of $45 again. Since its IPO, this becomes the fourth time that the company has hit its $45 mark. Each time it has been a real challenge for the company to rise above the IPO price.
Uber has made its name through its market dominance however it’s growth continues to be slow-paced and also has continuous losses, making Uber less attractive to many. However, the thing that Uber has done is bring more attention to the on-demand and delivery stock arena.
Special Delivery: Small-Cap Delivery Stocks Are Gaining Ground In Cannabis
Driven Deliveries Inc. (OTC: DRVD) is one of the only publicly traded cannabis delivery service operating in the United States. Now that’s what we call first-mover advantage. Driven Deliveries provides on-demand marijuana delivery in select cities where allowed by law. The service provides the legal cannabis consumer the ability to purchase and receive their marijuana in a fast and convenient manner.
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Consumers are growing increasingly lazy with most of all purchases from retail to food shopping being done online. And now you can add weed to that list. Driven Deliveries (OTC: DRVD) is quickly gaining steam in legal US markets as the new delivery option for customers is resulting in increased revenue and transactions for dispensaries.
Food delivery apps and services such as GrubHub and Uber Eats have already expanded revenue generated in the food-service industry by 22% or more. Consumers love getting what they want without having to leave their house to get it, plain and simple.
In Spite Of Being A Broken IPO, Still Worth An Investment
Cannabis is just one small niche expanding into the on-demand technology market. Uber has always managed to capture the headlines. This week it did that by launching itself in the sixth German city, Hamburg. The company further has plans to acquire Postmates which gives UberEats a heavy competition provided the price is right.
McDonald’s exclusivity with Uber also came to an end this year with the former getting into a contract with DoorDash. The company is set to report its financial results for Q2 on August 8. Uber had given accounts of its earlier performance through the prospectus issued during the IPO.
UBER stock price has been trading at $40 range since June. But, the figure is likely to change in the coming future for better. Uber has been able to disrupt various markets like those of food delivery, personal mobility, and freight logistics. In Q1 results, the company had reported 93 million monthly active platform consumers.
The revenue of the company has been on a slow rise especially on a net basis. The company sends a major portion of the money received to its drivers to keep them encouraged and active. This is a move that is not going away anytime soon. The deep deficits could also prove to be advantageous for the company.
Even though Uber looks like a broken IPO, it still leads in its industry. The concerns with the valuation persist still for good reasons. Uber continues to ride at a market cap which is five times the current year’s revenue. But, one would have to wait till 2025 to see a positive earning in the growing market.
Stock Price Friday Update – July 19, 2019
ROKU Stock Price Hits Another Life Time High: Good News For Tech Stocks?
In 2019 alone, ROKU stock has risen by as much as 271% as the company continued to add new customers and boosted revenues from advertising. However, could the latest surge be a signal for the next bull market in tech?
3 Biotech Stocks To Watch After Big News This Month
Here is a look at 3 biotechnology stocks that proved to be winners recently.
IPO News: Medallia Goes Public On Friday, July 19
Over 14 million shares of the company will be available to be traded at $16 to $18 per share on NYSE. And of course, investors will be watching MDAL stock price closely. Bank of America Merrill Lynch, Citigroup, and Wells Fargo Securities will oversee the IPO.
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