On Thursday shares of solar related companies were mostly higher along with the broader markets, a much needed relief from their year-to-date downward trend.
"Our shipments in the first half of 2023 were at record levels," Zvi Lando, CEO of SolarEdge, said during the company's latest quarterly earnings call," However, market demand began to slow in the third quarter and distributors began to experience financial challenges. As a result, we received a large amount of requests to cancel or push out orders."
"Long term, we continue to expect substantial tailwinds for the US distributed solar market including low market penetration, climate utility bills, a strained electrical grid plus a decade of tax benefits under the Inflation Reduction Act," he added. "The firm continues to benefit from its advantaged US position, which constitutes the vast majority of its sales activities, and where selling prices have been largely decoupled from global prices because of trade restrictions on solar panels," he added. -- Japan’s state pension fund, the world’s largest, posted a loss of ¥683.2 billion on total assets during the three months through September as its holdings of domestic debt slumped by a record.
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