Del Mar Solar Reviews

So, what exactly is involved in calculating solar panels cost in Del Mar? When thinking about solar power very few people know the way the cost of solar panel systems is actually measured. Or even, for that matter, do we automatically grasp the connection relating to the cost of solar power and the value of solar power. We all know that gasoline prices are in dollars per gallon. We likewise are all aware of approximately how far we’ll be able to drive after spending 40 bucks for a tank of gas. In contrast to a tank of gas, the value of which can be consumed pretty much instantly, solar panels deliver their value across a period of time.

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Del MarĀ 3 Undervalued Solar Leaders

Many homeowners take great pride in caring for their lawns. Many people spend lots of time planting various types of colorful plants. Others spend a significant amount of money on decorations to dress up their lawns. If you enjoy decorating your lawn, whether for different seasons or just the holidays, you may become a target for thieves. Fortunately, there are steps you can take to protect your lawn decorations from theft. Promoted by Things You'll Need Rope Outdoor lights (electrical or solar) Home security signs Choose heavy items for lawn decorations. For example, stone statues, rocks and wrought iron furniture will make it difficult for thieves to make a quick getaway with these types of decorations. Use thick rope to tightly tie down any lightweight holiday decorations on display in your yard. This may deter or at least slow down any thieves who attempt to run away with your inflatable Santa Claus. Install outdoor lights around your house. Place lights around walkways and driveways. Install a motion detector that will turn the lights on if someone enters the yard. This will surprise intruders and may cause them to flee. Choose outdoor lighting that can also serve as accent lighting for decorative purposes. Place home security signs around the outside of your house. Position your security signs near your outdoor lighting. This combination will likely discourage thieves from choosing to steal ornaments from your property because of the fear of a more sophisticated security system around the corner. Place various types of prickly plants around your yard ornaments. Planting a cactus or sticker bushes around your decorations will provide a natural deterrent against thieves. Invest in electric fencing around your decorations. Electric fencing will give the thieves a nice little shock when they try to steal your property. Adopt a dog. Adopt a homeless dog form your local animal shelter. Protect your lawn decorations by training a great guard dog. Dogs not only make loving companions, they will protect their owners and home. Thieves will be less likely to approach a home that has a barking dog. Join or start a neighborhood watch group. Create a neighborhood watch team to serve as extra "eyes and ears" against thieves who might like to steal your yard ornaments. Make sure all members of your group are aware of any thefts in your neighborhood and what actions to take if they encounter a robbery in the future. Related Searches Promoted By Zergnet Comments Please enable JavaScript to view the comments powered by Disqus. You May Also Like Protecting Outdoor Plants from Frost Protecting tender plants from temperatures near or below freezing, 32 degrees Fahrenheit, extends production in vegetable gardens and may allow the plants... How to Build a Wood Shed for My Lawn Mower A shed is an important piece for any homeowner to store outside equipment and supplies. Many sheds can be bought premade, but... How to Secure Lawn Decorations From Being Stolen Lawn decorations can turn a ho-hum yard into an artistic wonderland, for the holidays or every day. But the decor is also... How to Make Wooden Outdoor Christmas Decorations If your annual holiday celebration begins when store shelves are stocked with new outdoor ornaments—because last year’s batch of pricey, flimsy imports... How do I Turn Outdoor Christmas Lights Into Solar? Using solar power to operate your outdoor Christmas lights is an environmentally friendly and money saving project. By converting your current Christmas... How to Make a Life-Size Santa Claus Doll Create a life-size Santa doll as a Christmas decoration for your front hall or as part of a more intricate Christmas display.... Solar Pool Heater

SunPower: A Super Solar Stock With Amazing Upside Potential - SunPower Corporation (NASDAQ:SPWR)

Recent Macro News

Source: Wallstreetdaily, SCMP, CNN Money

The last 2 quarters have seen influential countries such as china, India and Saudi Arabia announce heavy commitments to investing in solar infrastructure. The news isn't particularly surprising if you are aware of the hazardous pollution levels in China and India. China, the most populated country in the world, claimed that it will spend over $361 billion on renewable energy development by 2020. According to China's National Development and Reform Commission (NDRC), 40% of that spending will go towards solar and that will result in more than 1000 major solar plants, boosting china's solar capacity by 5 times.

Khalid Al-Falih, the energy minister of Saudi Arabia, announced that the oil capital of the world plans to spend as much as $50 billion on renewable energy. The short-term goal is to generate 10 GW of electricity through solar and wind by 2023. Al-Falih remarks that the long-term goal is to have renewable energy account for 30% of the country's total energy consumption by 2030.

Forbes states that India has installed 5.4 GW in 2016, and the Ministry of New and Renewable Energy estimates 15 GW (estimates to around 22% of global demand in 2017) and 16 GW of solar installation for the next two years. The Indian Government aims to accumulate 100 GW of solar by 2022, a feat which will require around $90 billion in total.

The combined future solar spending by these three countries, as well as the rest of the world, is an enormous pie to split between the big players in industry. In this article, I will use fundamental data to compare First Solar (NASDAQ:FSLR), Canadian Solar (NASDAQ:CSIQ) and JinkoSolar (NYSE:JKS), 3 heavily undervalued solar leaders which are well positioned to meet increasing global demand. All financial figures are expressed in USD via Bloomberg.

Market Cap

Source: Bloomberg

First Solar's $3.94 billion market cap is by far the largest in this group. First Solar is the only company on this list headquartered in the US and has an American management team. Canadian Solar's $855 million market cap is the next highest. Canadian Solar is based in Guelph, Canada, but the management team and production is predominantly Chinese. JinkoSolar's $542 million market is the lowest of the bunch. The company is entirely Chinese from its headquarters to production.

Revenue & Gross Profit & Net income

Source: Bloomberg

Please note that analyst consensus Q4 revenue and net income are used to estimate full-year 2016 revenue for Canadian Solar and JinkoSolar. On a GAAP basis, First Solar reported $2.951 billion in revenue and $704 million in gross profit for 2016. Net income came out to be -$382 million due to a $729 million unusual expense which we believe to be asset write-offs. Canadian Solar is expected to earn $2.871 billion in revenue, $459 million in gross profit and $89 million in net income. JinkoSolar is projected to pull in $3.331 billion in revenue, $647 million gross profit and $125 million in net income. JinkoSolar leads the pack in revenue and net income due to the tremendous demand for solar in China, where JinkoSolar conducts a majority of its business. First Solar boasts the highest gross margin at 24% while Canadian Solar and JinkoSolar have gross margins of 16% and 19%, respectively.

Source: Bloomberg

Cash & Debt

Source: Bloomberg

Looking at the balance sheets of these 3 companies, it's clear why First Solar is trading at a higher earnings multiple compared to its peers. First Solar currently has more than 10x cash on hand than total debt and actually received $5 million in interest income in 2016. Canadian Solar has $481 million cash on hand and a heavy debt load of $2.344 billion. The company is paying an estimated $52 million in interest expense (first 3 quarters annualized). JinkoSolar has $2.663 billion in debt, the highest of the three and dwarfs First Solar's debt of $188 million. JinkoSolar is estimated to pay a substantial $95 million interest payment in 2016 (first 3 quarters annualized). Although Canadian Solar and JinkoSolar are carrying high levels of debt, one must note that Canadian Solar and JinkoSolar have historically financed their projects with debt rather than equity.

Current Price vs. Book Value

Source: Bloomberg

All three solar leaders are currently undervalued relative to their book value. First Solar, with over $2.4 billion in retained earnings, is trading 22% below book value. JinkoSolar has been GAAP profitable for the past 10 quarters and accumulated $339 million in retained earnings during the same period. JinkoSolar is currently trading 28% below book value. Canadian Solar at its current price of $15 is trading just $1 below its book value of $16, but the company has been steadily growing its retained earnings from $47 million in Q4 2014 to $294 million as of Q3 2016.

Analyst Targets

Source: 4-traders

First Solar, with 22 covering analysts, has 5 buy ratings, 4 sell ratings and 13 hold ratings. First Solar is currently trading right around the analyst target of $35.9. Canadian Solar, with 2 buy ratings, 2 sell ratings and 7 hold ratings, is trading slightly below its price target of $15.2. JinkoSolar, with only 7 covering analysts, has 3 buy ratings and 4 hold ratings. The analyst target of $23.2 represents a 36% upside from the stock's current price.

Personal Holding

Although we believe all three stocks have bright futures, we currently hold Canadian Solar only. Although Canadian Solar's P/E is not as low as JinkoSolar's and the company's book value is below both of its peers, we remain enticed by Canadian Solar's diverse project portfolio. Since its inception, 100% of JinkoSolar's revenue came from the People's Republic of China. In 2016, 83% of First Solar's revenue came from the US, 5.4% came from India and 11.7% from various other countries. For the 12 months ending 9/30/2016, Canadian Solar derived 41.7% of its revenue from Asia, 46.8% from America (a good portion of which is from Canada) and 11.5% from Europe + other foreign countries. We believe Canadian Solar's diversified global presence positions the company tremendously to meet the increasing global demand for solar. We will continue to buy on dips and may initiate a position in JinkoSolar in the near future.

Source: Bloomberg

Disclosure: I am/we are long CSIQ.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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