The SPAC Transparency. Each day this week we’ll cover one part of the SPAC market. Tomorrow we’ll talk more about the basics as I understand them but today, let’s talk about transparency. When a SPAC merger is announced, i.e. a public acquisition corp says it’s acquiring an operating private company, an investor presentation is released. These presentations are gold for understanding where the business comes from, how it is performing financially and where it is going. These decks are almost always well prepared and give you a great outline of how to tell the story of your company, the competition and how you will win. I’ve seen quite a few but if there is one that impressed you, send me the link.
Been There, Done That. Champa Bay Buccaneers owner, Joel Glazer, said in signing Tom Brady. If you want to get to the top, ask someone who’s been there before. As a Dolphins fan, I have suffered at the hands of Tom Brady for 20 years and thought that this year I’d simply sit back and admire the fact that Brady knows he’s great and then shows it off by executing. Some of us are wired that way but no-one quite like Brady. If you want to get to the top in solar, maybe you too can find your Tom Brady.
Earnings Highlights. Tomorrow we launch solar earnings season which will last the next month. Enphase kicks off with their release tomorrow. As I mentioned on Friday and you can hear the replay on Phil Shen of Roth Capital’s earnings preview webinar here, that Enphase has now reached 48% market share in the resi space. That’s up from 32% based on permit data collected and analyzed by Ohm Analytics. Phil also highlights that his checks indicate supply is limited of the popular product and margin could be increased by the company due to continued strong demand.
Ride Tonight. The #ride4solar continues tonight at 7:30pm EST. A 45-minute ride with Alex Toussaint to celebrate his 5 year anniversary. SEIA’s Abby Hopper is taking the helm tonight as I will be at ice hockey practice. In case you missed previous rides, solar’s own Walker Wright, of Sunrun, is quite the Peloton pro racking up output numbers that would humble Lance Armstrong.
- PV-Magazine: Gibraltar talks TerraSmart acquisition, U.S. solar market optimism
- Greentech Media: California’s Plan: Crowdsource Distributed Energy to Replace Grid Upgrades
- American Action Form: The Impact of Tariffs on Utility-Scale Solar
- Axios: How Democrats could thread the needle on climate change policy
- PBS: Sanders, Ocasio-Cortez seek climate emergency declaration
- PV-Tech: Total continues US utility-scale solar-storage push with 2.2GW pipeline acquisition
- Solar Builder: Spruce Power expands business model to offer storage, EV chargers to its 80,000 customers
- Utility Dive: Alliant, Duke announce generator shutdowns, accelerating nation’s transition to coal-free status
Opinion
Best, Yann