Much has been written on SUNE.
The net takeaway from their decline this year is that nearly all of their problems are self-induced. They can fix it.
The most important thing remains the macro political trends which continue to align for commercial non-fossil energy sources.
155 countries have submitted plans so far for the COP21 climate summit to be held by the United Nations in Paris this December. These already cover 88pc of global CO2 emissions and include the submissions of China and India. Taken together, they commit the world to a reduction in fossil fuel demand by 30pc to 40pc over the next 20 years, and this is just the start of a revolutionary shift to net zero emissions by 2080 or thereabouts. “It is unstoppable. No amount of lobbying at this point is going to change the direction,” said Christiana Figueres, the UN’s top climate official.
The IEA says China invested $80bn in renewable energy last year, as much as the US and the EU combined. It is blanketing chunks of the Gobi Desert with solar panels, necessary to absorb the massive surplus production of its own solar companies. The party’s Energy Research Institute has floated the idea of raising the renewable share of electricity to 86pc by 2050.
It is patently obvious that China is not about to sabotage a climate deal. Its submission to the COP21 summit aims for peak greenhouse emissions by 2030, if not before. It plans 200 gigawatts (GW) of wind and 100GW of solar by then, and a reduction in coal use from 2020 onwards. There will be a carbon emissions trading scheme as soon as 2017.
I have a series of extended hours (GTC) orders in place in an attempt to build a position on possible volatility when they report tonight tomorrow before the market opens.
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Any hint as to price you’re looking for?
I’ve put in numerous buy orders at descending price levels, as far down as -40% from the last AH print.