Intersolar Conclusions: Final Thoughts & Incremental Equity Views

研报英文原文证据摘录

Intersolar Conclusions: Final Thoughts & Incremental Equity Views

Deutsche Bank

Research

North America Industry Date

Clean Technology Clean Technology & 29 June 2026

Alternative Energy

Intersolar Conclusions: Final Thoughts &

Corinne Blanchard Incremental Equity Views

Research Analyst

+1-904-645-2360

With the three-day Intersolar Europe conference in Munich now concluded, we

highlight our key takeaways and thoughts on our coverage. We met with a wide Mike McNulty

range of public and private companies and believe the Clean Tech landscape is Research Associate

+1-904-887-0349 navigating another period of transition from increasing AI energy demand and

dynamics and the rise of BESS.

The key themes from our discussions revolved around the (i) focus on BESS, (ii) a

debated and regionally divergent demand picture in Europe, and (iii) debates on

the right technology choices for key growth areas like data centers. While the

global solar market faces a near-term contraction in 2026, driven primarily by a

policy-induced slowdown in China, the long-term sentiment remains more

constructive, with BESS seen key for future growth.

We encourage investors to read our daily takeaway notes from the conference:

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

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

Intersolar Day 3 Conclusions: Key Debates and Consensus Views

Incremental Equity Views:

• High focus on BESS. A positive for most of our coverage, as an

expanding overall market size should benefit much of our coverage. Both

SEDG and ENPH are expanding their BESS offerings; ENLT is focusing

on its BESS expansion in Europe; and NXT has recently announced a

BESS acquisition (NXT to acquire Prevalon ($365m), now entering the

BESS market).