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A solar field is seen on site at First Solar in Perrysburg, Ohio, on July 8, 2022.

Megan Jelinger | Reuters

First Solar shares jumped Wednesday after reporting another solid quarter, with the company booked solid through 2026 and an order backlog that stretches into the end of the decade.

The stock traded as much as 9% higher on the day. It was last up about 2%.

Here’s how the company did in the fourth quarter:

  • Net income rose 30% year over year to $349.2 million from $268.3 million
  • Earnings per share of $3.25 beat an LSEG estimate of $3.13
  • Revenue of $1.15 billion was slightly below a consensus forecast of $1.31 billion

Morgan Stanley analyst Andrew Percoco said the revenue miss was more than offset by strong margins of 43.3%, compared to consensus estimates of 37.7%.

First Solar has a record order backlog of 80.1 gigawatts stretching through the end of the decade with the company completely booked through the next two years.

First Solar is one of the few companies that has weathered the sharp downturn in the solar sector. While the Invesco Solar ETF (TAN) has plummeted 43% over the past 12 months, First Solar is down 6.2% during the same period.

High interest rates pummeled the highly leveraged residential solar sector, but First Solar’s focus on large, utility-scale projects has insulated the company from the macroeconomic headwinds.

“We continue to believe FSLRs extended visibility into margin levels and cash flows provides a relative safe haven for investors,” JPMorgan analyst Mark Strouse told clients in a note. JPMorgan has a price target of $226 for the stock, implying about 56% upside from Tuesday’s close.

Deutsche Bank and Morgan Stanley raised their price targets on the back of First Solar’s quarterly report. Deutsche sees First Solar rising 44% to $210 per share, while Morgan Stanley expects upside of 69% to $245 per share.

“The company message is clear and loud — solid growth ahead, with increased capacity coming online and two new US facilities being built up,” Deutsche analyst Corinne Blanchard told clients Wednesday.

“FSLR is utility exposed, and therefore we believe isolated from the current ongoing challenges for the rest of the solar space,” Blanchard wrote. “The company also has a solid balance sheet, therefore reducing macro related headwinds.”

But there are potential headwinds on the horizon with bookings expected to slow after two bumper years. Chief Financial Officer Alexander Bradley told analysts on the company’s earnings call that First Solar will be “highly selective” with its contracting in 2024 as U.S. presidential and congressional elections later this year create uncertainty for the renewable sector.

Analysts are worried that Republicans might seek to weaken or repeal tax credits under the Inflation Reduction Act if they win unified control of the government.

CEO Mark Widmar told analysts that Chinese subsidization and dumping has led to a collapse in cell and module in key international markets such as India and Europe.

Goldman Sachs lowered its price target for First Solar to $265 from $275 prior despite the company’s strong quarter. The investment bank said solar module oversupply and potential changes to U.S. tax credits are key risks for First Solar moving forward.

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Greenlane launches a second long-haul EV truck corridor pilot

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Greenlane launches a second long-haul EV truck corridor pilot

Greenlane is firing up its second commercial EV truck charging corridor – this time connecting Southern California to Phoenix along Interstate 10. The move targets a major gap in electric freight infrastructure on one of the busiest shipping routes in the US.

Greenlane’s new electric truck corridor is backed by a strategic partnership with electric truck maker Windrose Technology, which has already proved the route’s viability. Its R700 Class 8 electric semi pulled off single-charge trips from Greenlane’s flagship Colton, California, site to Phoenix – nearly 300 miles – with a gross combined weight of 74,420 pounds and still had 12% battery left.

That’s no small feat for long-haul freight. Windrose also completed a Colton-to-Las Vegas run on I-15 under similar conditions. The trucks can charge fast, too – the R700 hit a peak 772 kW using dual-gun charging at Colton, cutting downtime for heavy-duty operations.

Windrose plans to build 2,000 electric trucks in 2026 and ramp up to 10,000 in 2027 worldwide. “Electric long-haul trucking isn’t just theory – it’s proven real-world performance,” said Windrose founder and CEO Wen Han.

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The I-10 corridor will link Greenlane’s Colton hub to new sites in Blythe, California, and Greater Phoenix, Arizona. It’s part of the company’s larger plan to create a nationwide public charging network for medium- and heavy-duty fleets.

Electric trucking carrier Nevoya will be among the first customers to run the corridor. The company will use the Colton site as a charging and driver support base while operating battery-electric trucks along both I-10 and I-15.

Greenlane’s Colton flagship opened in April and packs over 40 high-speed chargers, including 12 pull-through bays for semis and 29 bobtail lanes. The site also has restrooms, Wi-Fi, 24/7 security, carports, office space, and parking – the kind of amenities long-haul drivers need on the road.

Read more: Greenlane’s flagship electric charging truck stop is now online


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Rivian is working on a steer-by-wire system – and rear wheel steering (updated)

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Rivian is working on a steer-by-wire system - and rear wheel steering (updated)

Rivian has posted a job listing for a steering engineer, specifically mentioning work on a future steer-by-wire system for the company.

Update, Aug 11: Rivian has now specifically mentioned rear-wheel steering in a job posting.

Steer-by-wire is an automotive concept that has been around for a long time, but hasn’t yet reached mass adoption. The idea is to replace (or supplement) mechanical linkages between the steering wheel and the wheels with electronic actuators instead.

There are a number of potential benefits to this, like allowing more customizability or adaptability to a steering system, reducing mechanical complexity, or adding speed-sensitive variable steering ratios.

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Although there are also disadvantages, like a reduction in steering feel (although, since most cars are moving to electronic power steering, that was already gone anyway).

But few cars have implemented steer-by-wire systems, or at least not fully committed to them, given that mechanical steering racks are a relatively solved problem and the general inertia of the car industry which would rather stick with a solution they know than switch to something better (haven’t we here, at this EV publication, heard *that* one before…). There’s also the matter of regulations, which have often been written to require mechanical steering systems, and may need updating to allow for steer by wire.

But, steer by wire made it into mass production with the release of the Tesla Cybertruck. This was big news when Tesla committed to this – at the time, it was the only thing on the road to exclusively use a steer by wire system, though there are other cars with partial steer by wire (for example, mechanical front wheel steering, and steer by wire rear-wheel steering).

But it seems to have opened the floodgates, as a number of other companies are working on or have since released steer by wire systems (Lexus, for example).

And now, it looks like Rivian is one of those companies – though we don’t know if it’s for the front or rear. (Update: Well, now we know, it looks like they are at the very least developing a rear-wheel steering system, according to another job listing. Though the company might still be working on steer-by-wire for the whole vehicle, too)

The company posted a job listing for “Sr. Staff Technical Program Manager, Steering Actuator System,” based at its Irvine, CA headquarters (spotted by Rivianforums). This wouldn’t be so exceptional, except that the job posting also specifically points out that “you’ll have full cradle-to-grave ownership of the SBW subsystem.”

So – we know they’re working on steer by wire, to some extent.

But a few other EVs, particularly large EVs like the Rivian R1 platform is, use steer by wire just for the rear wheels – for example the Hummer EV and Rolls-Royce Spectre. These systems are particularly helpful for giant vehicles, because it allows them to be more nimble and make turns that otherwise would require a lot more… negotiation in a giant land yacht.

So it’s possible that Rivian is only working on rear wheel steer by wire here, but we’d like to think there’s a chance it’s working on steer by wire for the full vehicle.

We also don’t know if this would show up on all of Rivian’s vehicles, or only on certain models – the R2 and R3 are in development, with R2 in pretty late stages, and the R1 just got a big refresh. But, perhaps even more interestingly (and very speculatively), VW has invested heavily in Rivian for technology help, so we wonder if we might end up seeing this in VW group vehicles, or Scout vehicles eventually…


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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BMW isn’t wasting any time discounting its new 2026 EVs

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BMW isn't wasting any time discounting its new 2026 EVs

Automakers are scrambling to push their EVs out the door before the $7,500 Federal tax incentive for EVs disappears — and BMW is no different, offering aggressive cash back, owner loyalty, and special financing rates on its just-released 2026 model year EVs.

BMW has a history of offering solid loyalty incentive programs on its EVs in early summer to clear the tail-end of the model year and make room for the incoming builds, but CarsDirect is reporting some unusual loyalty deals from the brand that seem to suggest BMW is keen to capitalize on a spike in EV sales ahead of the Federal tax incentive’s looming cancellation in September.

BMW dealers now have the choice of adding an additional $1,000 loyalty contribution on select 2026 EVs. The i5 and i7 are offered with $1,000 and $4,000 loyalty bonuses, respectively, meaning if you drive a BMW and your dealer opts to tack on the extra bonus, you could save $5,000 on a 2026 i7. These loyalty programs are good when buying or leasing.

There’s also a $1,000 conquest bonus available for drivers of eligible EVs and PHEVs from other brands. This program is stackable with other offers.

CARSDIRECT

Like other EV brands offering huge lease incentives, BMW customers will see the largest rebates on new BMWs when leasing. Now through September 30th, 2026 BMW i5, i7, and iX models are available with a stout $9,900 lease credit, while the bigger BMW XM comes in with a slightly lower, but still substantial $7,500 lease incentive.

Big deals on big BMW i7 sedan


BMW-suspension-1
BMW i7, via BMW.

People who prefer to own their vehicles once the payments are up can still score a great deal on an objectively excellent 2026 BMW i7 luxo-cruiser, thanks to the previously mentioned loyalty bonus if they’re previous customers plus a $7,500 Loan Credit that anyone can get when financing their new i7 with the brand’s captive financing company. BMW Bank offers financing rates as low a 3.99% for up to 60 months on the 2026 i5 and i7 sedans, as well as the iX crossover, as well as 4.99% APR 60-month rate on the high-performance XM plug-in hybrid.

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The BMW iX, of course, snatched the top spot in J.D. Power’s EV Satisfaction Survey last year, having taken the crown from its BMW i4 stablemate. You can find out what’s behind that score here, or experience it for yourself at a local BMW dealer near you. Click the link(s) below to get a uniquely tailored offer on the exact BMW you want (trusted affiliate links).

SOURCES: CarsDirect, J.D. Power; images via BMW.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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