Emeren(SOL) ZACKS·2024-12-27 19:26Clean Energy and Energy Storage Market Growth - The global energy storage market is strengthening due to increasing adoption of clean energy, with Europe's total energy storage expected to grow from 15 GW in 2023 to 375 GW by 2050 [1] Emeren Group (SOL) Developments - Emeren signed DSA contracts with nine partners for 28 projects totaling over 2.1 GW capacity, with 84% in battery storage, expected to generate over $69 million in revenues over the next 2-3 years [2] - Emeren completed the second phase of its BESS portfolio, adding 162 MW (1.4 GWh) capacity in Sicily, Italy, contributing to a total DSA portfolio of 462 MW [14] - Emeren's DSA partnership with PLT energia Srl involves developing a 394 MW portfolio of five advanced BESS projects in Italy [8] - Emeren has been expanding its European footprint in countries including Poland, Hungary, England, France, Germany, Spain, and Italy, utilizing its DSA model to monetize projects [15] - SOL shares gained 53.9% in the past six months, outperforming the industry's 23.3% decline [19] Canadian Solar (CSIQ) Developments - Canadian Solar has a strong presence in Germany, Poland, Spain, Italy, France, and the Netherlands, with a 32,719 MWh battery energy storage development project pipeline in Europe, the Middle East, and Africa as of September 2024 [3] - CSIQ has a long-term earnings growth rate of 25% and is expected to achieve 18.4% year-over-year sales growth in 2025 [17] SolarEdge Technologies (SEDG) Developments - SolarEdge launched its first commercial storage system, the CSSOD battery, in Germany in December 2024, offering an integrated solar and storage solution [10] - SEDG has a long-term earnings growth rate of 1.2% and is expected to achieve 36.7% year-over-year sales growth in 2025 [4] Enphase Energy (ENPH) Developments - Enphase introduced its IQ Battery 5P in Belgium and France in September and July 2024, respectively, as part of its European expansion strategy [18] - ENPH has a long-term earnings growth rate of 3.6% and is expected to achieve 27.7% year-over-year sales growth in 2025 [11] Industry Trends and Opportunities - The expanding energy storage market in Europe presents opportunities for solar companies, with Emeren, Canadian Solar, SolarEdge, and Enphase actively capitalizing on this growth [9][16]