FTCI

• Trump's Supreme Court Appeal: President Trump has requested the Supreme Court to allow him to fire FTC commissioner Rebecca Slaughter, whose reinstatement was ordered by lower courts after he terminated her.

• Legal Justifications and Challenges: The appeals court ruled that FTC commissioners can only be removed for cause, and Trump's lack of stated reasons for Slaughter's firing raises questions about his authority, paralleling his attempt to remove Federal Reserve Board Governor Lisa Cook.

Impact of Trump's Administration on Renewable Energy Stocks

• Halting New Projects: The Trump administration's recent decision to stop approvals for new solar and wind projects has significantly affected the clean energy market, leading to declines in stock values for companies in this sector.
• Affected Companies: BKV Corp., Bloom Energy Corp., and FTC Solar Inc. have all seen their stock values drop, entering the "Hitting Bottom 10%" category in value rankings.

Key Value Ranking Changes

• BKV Corp.: The stock's value score plummeted from 72.08 to 9.79, a drop of over 62 points. Despite a year-to-date decline of 0.81%, it has increased by 29.50% over the past year. BKV Energy offers 100% renewable electricity plans.
• Bloom Energy: This company's value rating fell from 10.58 to 9.57, indicating a lack of fundamental support. The stock has risen 126.53% year-to-date and 380.40% over the year, maintaining a strong price trend.
• FTC Solar: The stock's value score decreased from 11.17 to 10.17, just below the 10th percentile. It has advanced 9.65% year-to-date and is up 190.70% over the year, despite a poor growth ranking.

Political and Economic Factors

• Policy Uncertainty: Trump's statements against renewable projects and potential legislative changes to tax incentives for renewables by 2027 have led to increased valuation risks for these companies.
• Rising Input Costs: Tariffs on steel and copper are raising input costs for solar manufacturers, further impacting their margins and profitability.

Market Performance

• Stock Market Trends: The SPDR S&P 500 ETF Trust (SPY) fell by 0.60% to $645.05, while the Invesco QQQ Trust ETF (QQQ) declined by 1.16% to $570.40, reflecting broader market challenges amidst these developments.

Conclusion

• Valuation Risks: BKV Corp., Bloom Energy, and FTC Solar are now viewed as potentially overvalued stocks in the clean energy sector, facing significant challenges due to shifting regulatory and fiscal landscapes in the U.S.

• FTC Solar and Levona Renewables Partnership: FTC Solar will supply solar trackers and software for one gigawatt of solar projects for Levona Renewables, starting in early 2026.

• CT Solar One Project Details: The first project, CT Solar One, is a 140-megawatt facility in Snyder, Texas, with construction set to begin in early 2026, followed by additional projects adding approximately 650 megawatts.

• Innovative Technology Utilization: The projects will use FTC Solar's Pioneer 1P trackers and SunPath software to enhance energy yield through optimized terrain-based backtracking and diffuse light optimization.

• Leadership Statements: Both CEOs from FTC Solar and Levona emphasized their collaborative efforts and the value added by FTC Solar’s expertise in optimizing site development and engineering support.