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But then a miracle happened: All three stocks pared their losses. As we approach the noonday mark, Bloom is down only a little more than 1% for the day, and Plug less than 1%. Enphase Energy is still struggling with a 2.6% loss -- but if I''m right, even those losses may soon evaporate.
I''ll explain why. The past few days have seen about a 4% tumble in global oil prices as the oil-producing nations of OPEC and its friends quarrel over how much to raise their production quotas, when to raise them, and how much oil to allow each individual member of the cartel to produce.
Theories about what, precisely, is going on at OPEC vary, but according to a Wall Street Journal report out this morning, the true story here is one of a single OPEC member -- the United Arab Emirates -- and its worry that the days of oil as a global, universal fuel are numbered, and that it needs to "sell as much crude as possible before demand dries up."
Granted, right now demand for oil is rising as global economies open back up. Granted, too, according to International Energy Agency estimates, demand for oil won''t even begin to plateau before 2030.
But here''s the thing: According to the Journal, UAE has so much oil in its reserves already that it will take the country "more than 50 years" to run dry. If demand for oil starts to flatten just 10 years from now, and then begins to decline, there''s a very good chance the country won''t be able to sell all of its oil before demand for the stuff runs out. And so UAE is investing $122 billion in an effort to produce as much oil as possible, as fast as possible -- before it gets stuck owning a commodity that nobody else wants.
In a nutshell, that''s the argument: UAE thinks that oil demand is heading for a peak, and it wants the rest of OPEC to agree to allow it to pump more oil, sell that oil, raise cash from the sale, and invest that cash in...renewable energy instead.
In the short term, this is causing arguments and disarray within OPEC, which is making oil cheaper and diminishing the value of companies that compete with oil as a source of power. In the long term, however, the fact that one of the world''s biggest producers of oil thinks the age of oil is over can only be good news for alternative energy stocks such as Plug, Bloom, and Enphase.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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HomeMarketsSharesEnphase Energy, Inc.
Enphase Energy (ENPH) creates, develops, manufactures and sells home energy solutions platforms that assist individuals in managing energy generation, storage and control.
The company was founded in 2006 and its main product is a semiconductor-based microinverter that converts energy at the individual solar module level. Its proprietary networking and solar technologies enable sophisticated energy monitoring and control. Customers can create, use, save, sell and own power using the company''s system.
Enphase Energy also provides consumption monitoring via Enphase IQ Gateway, a cloud-based energy management platform, and battery storage systems as part of its platform. Consumers can use any web-enabled device to monitor their home''s solar generation, energy storage and consumption.
Based in Fremont, California, Enphase Energy caters to residential and commercial users all over the world. Enphase Energy has installed 42 million microinverters on approximately 1.9 million homes in 130 countries.
The company sells to solar distributors who later combine its products with others, before the distributors then resell the products to installers in each target region. Enphase Energy also sells directly to large installers, original equipment manufacturers (OEM) and strategic partners. The company''s OEM customers include solar module manufacturers who integrate its microinverters with their solar module products and resell to both distributors and installers.
On 31 December 2021, Enphase acquired ClipperCreek Inc, which provides electric vehicle charging solutions to residential and commercial customers in the US.
Enphase Energy went public on 30 March 2012. Its shares are traded on the Nasdaq under the ticker symbol ''ENPH''.
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Energy in the United Arab Emirates describes energy and electricity production, consumption and import in the United Arab Emirates (UAE). The UAE has 7% of global proved oil reserves, about 100 billion barrels.[1] Primary energy usage in 2009 in the UAE was 693 TWh and 151 TWh per million persons.[2]
The UAE is currently transitioning from an electricity generation system nearly 100% powered by gas power plants (2010) to 100% powered by solar, other renewables and nuclear in order to substantially reduce its carbon emissions. It is also rolling out electric vehicle charging infrastructure.
2012R = CO2 calculation criteria changed, numbers updated
In June 2010 UAE had 6th top global proved oil reserves, about 100 billion barrels, behind Saudi Arabia, Venezuela, Iran, Iraq and Kuwait. The crude oil production of UAE was more than 4 and less than 5 million barrels daily.[1]
UAE was 4th top crude oil net exporter (108 Mt in 2008) and 10th top crude oil producers (120 Mt in 2009).[4]
UAE has 7th top global proved natural gas reserves, above 6 trillion cubic metres. The global gas production in 2009 was 3 trillion cubic meters.[1]
The UAE has massive solar generation potential, and its energy policy has shifted substantially due to the declining price of solar. The Dubai Clean Energy Strategy aimed to provide 7% of Dubai''s energy from clean energy sources by 2020 and planned to increase this target to 25 per cent by 2030 and 75 per cent by 2050.[5] The country, however, generated only 3,8% electricity from solar in 2020, reaching the target three years late.[6]
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