Clean Technology & Alternative Energy: Intersolar Day 1 Conclusions: Regional Focus, BESS, and Policy are Key

研报英文原文证据摘录

Clean Technology & Alternative Energy: Intersolar Day 1 Conclusions: Regional Focus, BESS, and Policy are Key

Deutsche Bank

Research

North America Industry Date

Clean Technology Clean Technology & 22 June 2026

Alternative Energy

Intersolar Day 1 Conclusions: Regional Focus,

Corinne Blanchard BESS, and Policy are Key

Research Analyst

+1-904-645-2360

The Intersolar Europe conference in Munich concluded its first day, with an

overall focus on conferences and presentations rather than expo halls. Overall, Mike McNulty

sentiment seemed mixed on near-term vs long-term and regional differences. Research Associate

+1-904-887-0349 The global solar market has been expected to contract in 2026, mostly driven by

a slowdown in China. Long-term, focus continued to be on the solar value

proposition driven by need for power, low marginal cost, and quick installation

time. The key discussion topic of the conference is BESS, which has been

discussed as an enabler for the next phase of growth for solar.

Pertaining to our coverage, day one reflects similar views and commentary

compared to prior conferences, though marks some incremental learnings and

nuances. European commentary continues to show green shoots (relevant for

SEDG and ENPH), based on panel and presenter commentary, driven mostly by

higher power pricing resulting in improved solar economics. That being said,

there is an overall fear around policy uncertainty and a possible ‘solar coaster,’

where high demand today can rapidly decrease. On the utility side, German policy

is a key uncertainty that could impact projects in 2027+, given long lead times

(relevant for NXT, ARRY, and ENLT). We view the high focus on BESS as a

positive for ENLT, given the company’s 535MWh of BESS construction in Europe