Texas kicks on with solar, storage as developers eye profits [Reuters]
Nextracker Inc. (NXT)
Company Research
Source: Reuters
, opens new tab , driven by a rising population, economic growth and summer heat waves that hike air-conditioning use. Texas is set to install 12.7 GW of utility-scale solar power in 2024, 35% of total U.S. solar additions, the Energy Information Administration (EIA) said last month, based on developer projections. Texas operated 23 GW of solar power at the end of 2023 and is forecast to install a further 100 GW over the next 10 years, "outpacing the next closest state by a two-to-one margin," Solar Energy Industries Association (SEIA) and WoodMac said in a recent report. Summer heatwaves in Texas have prompted price spikes during peak demand periods, offering high revenues for batteries New Tab , opens new tab when solar power wanes. An increasing number of developers are coupling solar with battery storage to maximise revenues and new tax credits in the 2022 Inflation Reduction Act have spurred a surge in stand-alone battery storage projects. “We have built many batteri
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NXT
News
- JM Steel announces expansion in Pittsburgh area as demand for solar energy increases [CBS News]CBS News
- Nextracker Inc. (NASDAQ: NXT) was downgraded by analysts at Northland Securities from an "outperform" rating to a "market perform" rating. They now have a $44.00 price target on the stock, down previously from $60.00.MarketBeat
- 3 Solar Stocks to Watch Amid Bleak Residential Installation View [Yahoo! Finance]Yahoo! Finance
- Nextracker and JENNMAR Subsidiary JM Steel Bolster U.S. Supply Chain with New Facility Expansion to Triple Capacity for Solar Energy Projects [Yahoo! Finance]Yahoo! Finance
- Nextracker and JENNMAR Subsidiary JM Steel Bolster U.S. Supply Chain with New Facility Expansion to Triple Capacity for Solar Energy ProjectsBusiness Wire
NXT
Earnings
- 1/31/24 - Beat
NXT
Sec Filings
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- NXT's page on the SEC website