Highlights from Zacks analyst blog: Sunrun, SunPower and Sunnova Energy


For immediate release

Chicago, IL – January 11, 2022 – Zacks.com announces the list of stocks featured on the Analysts Blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Recent actions featured in the blog include: Sunrun RUN, SunPower SPWR and Sunnova Energy NOVA.

Here are highlights from Monday’s analyst blog:

Large solar deployment in the eastern United States: actions to be won

According to a recent report released by the Solar Energy Industries Association (SEIA), the Massachusetts Department of Public Utilities (DPU) is expected to deploy 3,200 megawatts (MW) of solar capacity. In particular, the DPU ordered the extension of its Solar Massachusetts Renewable Target (SMART) program from 1,600 to 3,200 MW of solar capacity.

This expansion finally comes after a long wait, particularly an 18-month purgatory for new commercial and large-scale solar projects in the state of Massachusetts. This should encourage solar investors to keep an eye out for stocks like Sunrun, SunPower and Sunnova Energy.

Solar outlook in Massachusetts

With the whole of the United States rapidly adopting solar power, Massachusetts is no exception. According to the latest SEIA report, the state is in 8th position in the national ranking, with 3,486.3 MW of solar power installed. Currently, solar represents 19.4% of the state’s electricity production.

These data indicate the already well-established market for solar power in Massachusetts. SEIA plans to witness the 1,657 MW solar installation in Massachusetts over the next five years.

The SMART program, established in 2018, has led to a significant solar deployment in the state of Massachusetts. The latest expansion will further boost deployment in this state, thus encouraging solar players.

Actions to benefit from

We have mentioned some solar companies operating in Massachusetts that stand to benefit from the expansion of the SMART program.

Sunrun: The company develops, owns, manages and sells residential solar energy systems. Its plans for renting and purchasing solar power – with or without a home battery – are available in most of Massachusetts. Sunrun offers solar financing in the form of Solar Power Purchase Agreements (PPAs).

Sunrun made a surprise profit of 120% in the last quarter. Zacks’ consensus estimate for 2022 has narrowed to a loss of 29 cents from a loss of 39 cents in the past 90 days. RUN currently wears a Zacks Rank # 3 (Hold).

SunPower: The Company designs, develops, manufactures, markets and sells high performance solar energy technology products, systems and services around the world. It has a team of local solar experts and installers in Massachusetts. Through a long-term PPA with Green Street, a SunPower reseller, the Attleboro School District is expected to save nearly $ 5.5 million in energy costs over the next 25 years.

SunPower has achieved a surprise profit of 113.33% on average over the past four quarters. Zacks’ consensus estimate for 2022 earnings has improved 4.4% over the past 60 days. SPWR currently wears a Zacks Rank # 3.

Sunnova: The company is a provider of residential solar services and energy storage. The company offers home solar panels as well as storage batteries throughout the state of Massachusetts. In July 2021, Sunnova Energy International partnered with National Grid and SolarEdge Technologies to use its fleet of solar and storage assets in New England, MA, to improve the quality of electricity in the service area. from National Grid.

Zacks’ consensus estimate for losing Sunnova in 2022 has narrowed over the past 90 days. NOVA currently wears a Rank 3 Zacks. You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

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