HSBC sees 'solar supremacy' in energy sector

Flat Glass

04/07/2023 09:56

** HSBC says solar energy sector's stellar rise is set to
continue, seeing the value chain fully supplied for 500GW of
annual installations by 2026
    ** The IEA predicts investments in solar will for the first
time surpass spending on oil production in 2023, the broker says
    ** "Solar supremacy is building," HSBC says, expecting solar
to meet and even exceed many government rollout targets, unlike
other low carbon technologies
    ** It says efforts to incentivise solar manufacturing in the
U.S. and Europe should further increase capacity and help drive
a decoupling of poly prices inside and outside of China
    ** HSBC raises Wacker Chemie  WCHG.DE  to "buy" from "hold",
as it expects the German maker of polysilicons to benefit from
new plans in Germany to support solar manufacturing and from
poly price decoupling
    ** In its Asian solar coverage, HSBC prefers JinkoSolar
 JKS.N , LONGi  601012.SS , Flat Glass  601865.SS  and Sungrow
 300274.SZ  (all "buy")
    ** "Falling module prices drive optimism on demand growth
through H2 with minor concerns on H1-24e demand fade" -HSBC

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))