Intersolar Day 3 Conclusions: Key Debates and Consensus Views

Research evidence excerpt

Intersolar Day 3 Conclusions: Key Debates and Consensus Views

Deutsche Bank

Research

North America Industry Date

Clean Technology Clean Technology & 24 June 2026

Alternative Energy

Intersolar Day 3 Conclusions: Key Debates

Corinne Blanchard and Consensus Views

Research Analyst

+1-904-645-2360

Today concluded the third and our final day of Intersolar Munich, where we met

with public and private companies across the supply chain and hosted investor Mike McNulty

meetings with corporates. In this note, we highlight our key takeaways. We Research Associate

+1-904-887-0349 encourage investors who have not done so to read our published notes from Day

1 and Day 2 below.

Intersolar Day 1 Conclusions: Regional Focus, BESS, and Policy are Key

Intersolar Day 2 Conclusions: Modularity, Storage, and Chinese Competition

Key Takeaways from Day 3:

• BESS growth is consensus, chemistry is not: While exact growth rates remain

debated, BESS appears to have become the consensus fastest-growing

segment in solar. Across C&I, residential, and utility-scale applications, many

manufacturers showcased BESS products and discussed the high growth

rates associated with them. Our meeting with CATL was especially

informative from a chemistry perspective, with the company expecting 30-

40% of BESS products to be sodium-ion based by 2030, although EV share

is expected to favor lithium-based chemistries.

• Tracker vs. fixed-tilt debate intensified: We note continued mixed views on

fixed-tilt vs. tracker applications specific to data center / hyperscaler needs.

ARRY noted that it is seeing data centers and hyperscalers prefer fixed-tilt

solutions over trackers due to (i) speed to power and (ii) fewer moving parts,

while NXT noted that it is not seeing this trend, as module pricing in the US