Sustainable future – Year’s Favourites 2022
26 January 2022
How we chose our Year’s Favorites
Last year, we said that policy support and automakers commitments would drive electric vehicles (EVs) and batteries uptake, that demand for residential solar would experience a significant post-lockdown rebound, and that strong national commitments would boost the offshore wind market.
- We decided to favor Energy Storage, Residential Solar, and Offshore Wind.
- Our three year’s favorites were thus CATL, SolarEdge, and TPI Composites.
What did not work
Supply chain disruptions widened the supply/demand gap. They led to higher prices for raw materials (e.g., steel, copper, aluminum, polysilicon), weighting on clean technology producers, notably wind turbines and solar modules. Our wind energy exposure was particularly hit as demand for wind energy declined 9% YoY, and developers delayed wind farm projects to 2022 due to high input costs.
- Contribution to the Year Favourite performance: TPI Composites -2.59%.
What worked
Demand for EVs and solar energy kept growing despite supply constraints, with EV sales reaching 5.6mn (+80% YoY) and new solar PV installations reaching 160GW (+17% YoY).
- Contribution to the Year Favourite performance: CATL +3.45%, Solaredge +0.56%.
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