#suniva

The Hero’s Forge, a large arena, adorned on its highest points by the statues of past trollhunters that were felled in battle, or any other circumstance. Avaluna was already there, looking up at her old friends and those she advised through the centuries, some before, some after the Battle of Killahead. The raven-haired wizard had her eyes set on Deya, her eyes were closed, a symbol of her last battle. As sadness tried to overtake her, she felt a comforting presence beside her, closing her physical eyes but reaching out with her soul, she could sense and see Deya’s spirit, as well as every other in the forge. 

“How’re they doing?” Suniva asked, smiling and landing next to her sister. 

“As good as any dead troll can be!” She smiled back and opened her eyes. “And I think you would like to know that Aberon was giving you deer horns behind you.”

Both laughed, it wasn’t unknown for Trollhunters to have a personality beyond the grave much similar to the one they had when alive. The sisters sat together, Suniva instantly talking about her time with Draal and how the crystal back had been, or at least what she could gather in his half-drunken state. Avaluna did show concern for the troll, something told her there was trouble brewing with him, yet she hoped she was wrong, continuing to listen quietly as she made sure all the mechanisms were working.

Their mostly one-sided conversation ended when the gasps of a teenage boy coming from the entrance, announcing the presence of the Trollhunter in trollmarket. Avaluna and Suniva waited patiently for him and his friend to notice them, allowing them to take in the sights and the greatness of the place. It wasn’t something easy to take in at first, the oldest sister as well as both siblings remembered the amazement and awe they felt when introduced to places held together by magic, surely, it was no different for that child. 

Once there had been enough time to introduce the boys to the place, with Blinkous explaining who some of the Trollhunters high above, they stepped forward. 

“Welcome Trollhunter! It is a pleasure to be meeting you.” Avaluna smiled, offering her hand which the boy took with a confused glance. “I am Avaluna, Wizard of the moon and chosen of the Northen Wind.” 

“And I’m Suniva! Wizard of the Sun and chosen of the Eternal Flame! Great meeting you!” Her younger sister pipped up, leaning and observing the boy’s physique, concurring with Draals statement that the boy was not exactly strong, but also not out of shape. “Are you ready to start your training?”

“Um- yeah I guess- just one question?”

“O’ course! What’s your question?”

“So? You’re… witches?” 

That statement got on Suniva’s nerves the slightest bit, but her sister was quick to correct it before her sister did. “No, Master Jim. We are wizards.”

“I thought that was just the male version?”

“No, it is more complex than that you see.” She smiled, bringing the necklace from inside her clothes to the surface. “Witches make trades. They need sources of magic to use it, and also corrupt it into what they want them to do. Wizards are different in that aspect. We do not need to change the core of something. We simply need to guide its pre-existing energy to the objective we seek!” 

With a few waves of her hand, she summoned a sphere of light, which played around in her hands and rolled on her arms a bit like a ball. It delighted the boys, who watched in awe at the simple trick. Suniva calmed down, also bringing forth her necklace from inside her clothes. “Any more questions?” 

Toby raised his hand high, and the sister of red curls nodded in his direction. “Yes? Er…”

“Tobias Domzalski! Best friend of Jim. One question:...”

“Just one?” Jim queried, amused.

“You guys are trolls.” He points to Aaarrrgh and Blinky. “Doesn’t ‘Trollhunter’ mean you hunt yourselves?”

“Hunt bad trolls. Gumm-gumms.” The big green troll clarified. 

“Bringers of calculated painful death and destruction.” Suniva added, walking back to be beside her sister, also noticing Jim’s fearful demeanor. “Don’t worry, Jim! Only one gumm-gumm remains on the surface lands! The rest are rotting in the Darklands, if not already dead.”

“Wait- Bular is one of the murderous ones?!” Toby squealed, fear clear in his voice. 

“Indeed he is, thus the urgency of training! I fear dark times are upon us.” Blinky moved towards the starting button for the arena. 

Avaluna knew of the plan, moving to be beside him together with her sister, before she could stop him, however, he had pressed the button. Blades emerged from the ground and giant axes swung from the walls, Aaarrrgh left the arena in time, the boys narrowly escaping being chopped in half. 

“Maybe we start with something less sharp?!” Jim exasperated, backed into a wall next to them. 

“I agree with the Trollhunter, that was too much to start.” Avaluna frowned. 

“You should have seen him facing Bular before we entered Trollmarket today! It was amazing! I think he’s got more potential than he gives out.”

“You were attacked by Bular outside Trollmarket?!” The moon wizard gasped, black eyes wide with shock. 

Blinkous had no time to reply, as Vendel’s voice echoed in the arena. “Blinkous Galadrigal!” 

The elder crossed the arena, facing the trainer as he scrunched his shoulders, ready to be faced with some sort of anger, disappointment or both at once. Once the chief arrived at their spot, he turned to the boys, asking the Trollhunter to come forward, so he could meet the boy who was chosen. 

Avaluna stepped up, pointing to Jim. “Here he is Vendel!” The elder turned around from looking at Toby, who took back his phone before anything happened. “Jim, this is Vendel. Son of Rundle, son Of Kilfred. And elder to trollmarket.”

The boy was intimidated by the elder's attitude, back stretched, demanding respect. He cleared his throat, “I'm Jim… Well… James Lake Junior… Son of… Barbara?” 

Jim produced the amulet, showing it. “So the rumors are true…” 

A bit of banter back and forth, debating whether this was another one of the Amulet's tests of Trollkinds own individual strength or a legitimate protector in the making, as well as a very terrifying Soothscriar test that ended inconclusive, made so Vendel left. Leaving behind some emotional damage and trauma, which the sisters rushed to correct.

“Don’t mind him! He’s an old goat and sometimes can’t fathem change.” Suniva chirped, pulling Jim and Toby up.

Avaluna agreed with her sister, it was not a lie, though she had to add. “Though you must also recall that he is, like most of Trollmarket, grieving an old friend who was felled.” 

Jim and Toby stared as all fell somber, looking up again at the empty space. “Grieving? The last Trollhunter?”

“Precisely…” Avaluna sighed heavily, using light once again and projecting the images of the past as she narrates it. “Kanjigar was the first Trollhunter after the battle of Killahead, centuries ago. He was the guide as we traversed the New World, as we searched for a Hearthstone…” The image projected itself into the air, the room dimming as Avaluna’s lit hands painted the empty space. “Before that, he was a scholar, a historian, who was beloved by the community. He had a wife, a son, all he could need… Even as the war struck, he was a pillar for our populus.” The images of the horrors of war flashed through. “The Gumm-gumms attacked… They killed his wife while his son was still young… They threatened his life and his way of being… More than all… Threatened his son.” The image of a young Draal, threatened by a giant troll and a smaller figure. “His death affects everyone, the lives he has touched were many… Of course, he is missed. All grieve differently, and his grief is simply different for he is the headmaster. A lot is expected. The world, sadly, does not stop when you are grieving.” 

Jim looked down in thought as Avaluna undid the illusions, dusting off her sweaty hands. There truly was no time for that, but knowing was better than anything. For the duty, he had to know what was emotional intelligence. And more so, how to handle things such as this. 

“Fighting is of importance. But not as much as having a kind heart and understanding what goes through it.” She places a hand on Jim’s shoulder, attentive. “You have been burdened with a lot. But now, on this journey, to be a Trollhunter, you may decide if you are Hades, or if you will be Ares.” 

With that, she stepped away, placing a hand next to her necklace, same as her sister. Both started glowing, revealing a shocking sight to the boys.

(Photo: Glenn Russell, The Burlington (Vt.) Free Press) 

No solar tariffs

Suniva Saskia Eco.

Suniva, SunPower, Enphase, SolarBridge and SolarWorld – Six Degrees of Solar Separation

by Paula Mints

In June, Suniva crawled out of its badly managed grave courtesy of a request to the U.S. Bankruptcy court made by its partner-in-tariff-petition, SQN Capital Management, which had sought relief for itself and Suniva’s other creditors. A public auction will be held sometime between June and August for, what was described as, some of Suniva’s manufacturing equipment. Meanwhile, back on planet hope-springs-eternal, investment is being sought to restart manufacturing with whatever equipment remains. Lucky SQN now owns Suniva’s monocrystalline cell manufacturing capability, its module assembly capability and its licenses.

Comment: Concerning the upcoming auction … if you’ve got a dollar and are tired of Vegas odds, go for it. Seriously though, the company’s US module assembly was already outdated (most of its modules were assembled in China and even there, focused on 60 cell modules) and its cell manufacturing uncompetitive – because – the cost structure in the US is higher than that of China (and other Asian countries). Concerning 60 cell modules, manufacturers such as LG, still offer these modules as premium products for the rooftop residential market.

Labor costs are higher – much, much higher than in Vietnam (<$3.00 per hour), China (<$6.00 per hour), Thailand (<$3.00 per hour), India (<$3.00 per hour). In the US the minimum wage is $7.25 per hour and is higher in some states.

Though other countries may have overtime laws the base pay is lower and so, again, does not compare to the US. The cost of inputs is lower in other countries. The manufacturing concern may be well-supported by local and central governments in other countries. The manufacturing concern may not pay taxes, or, may pay significantly lower taxes in other countries and land for the facility may have been free or close to free (no rent) in other countries.

And … lest we forget, there is the cost of the Trump Administration’s tariffs on, basically, everything and against, basically everyone. These tariffs have led to retaliation from, basically everyone, on basically everything. The added cost of inputs (steel, aluminum, et al) is already trickling through the US economy (and, that of, basically, economies everywhere).

Finding an investor willing to buy what is left of Suniva’s equipment after the auction, and who will then restart manufacturing of cells and/or modules, will be (and should be) difficult.

The What Ifs for SunPower of Suniva’s possible reemergence

If whatever entity buys whatever is left of Suniva restarts its cell manufacturing, a major strategic coup for SunPower (SPWR) will be reduced. As the only US cell manufacturer (if the SolarWorld US acquisition is finalized) SunPower would have the control over requesting an extension for the 2012/2014 and current 201 tariffs, and could allow them to sunset, ask for an extension, or pursue another country. If Suniva successfully restarts cell manufacturing SunPower’s control in this regard is somewhat diluted. However, a successful restarting of Suniva’s cell manufacturing is a big if with very little upside to it, is frankly hard to justify, and though it may happen, hard to imagine. Granted, the unimagined happens every day. Perhaps one of the companies that has announced plans for module assembly in the US will consider Suniva a cheap buy worth retooling.

Lesson: This is not a lesson about the struggle of a little company to survive. This is a lesson on how to read announcements for what really matters. The announcement was about an auction. More will be forthcoming after the auction.

Enphase buys SolarBridge with immediate plans to shutter a lesser rival

In June, right on the heels of its SolarWorld acquisition announcement, SunPower announced it had sold its microinverter division (SolarBridge) to microinverter manufacturer Enphase (ENPH). SolarBridge was founded in 2004 in Austin, Texas. In 2013, longtime SunPower Executive Bill Mulligan was named SolarBridge’s CEO. In 2014, SunPower acquired SolarBridge. Enphase acquired SolarBridge for $25 million and will issue 7.5-million shares of stock. Enphase also gets a supply agreement with SunPower for its microinverter product. Enphase stated it would immediately shut down production of the SolarBridge microinverter technology.

Comment: If the price Enphase paid for SolarBridge, a company it does not want with a technology it intends to shut down, seems cheap, Enphase paid for a pipeline. SunPower got funding to help defray the cost of its SolarWorld acquisition. In the case of Enphase, if the SunPower potential pipeline proves less robust than expected, this would be an expensive way to shut down a minor and annoying competitor.

The real competing technology for Enphase remains string inverters with power optimizers.

Lesson: This is another lesson on how to read announcements. Enphase bought a pipeline. SunPower got rid of an underperforming and expensive asset, and secured funds to help with its SolarWorld US acquisition costs. Happens all of the time. You want a new purse … sell the old one on eBay. Kudos all around. This is also a lesson about expectations. Just like the future, expectations are ephemeral and are a product of our hopes, dreams and in some cases fears. This means that worst case, Enphase paid $25-million and issued stock to get rid of a rival technology. The success of the worst case depends on how big a rival SolarBridge really was for Enphase. If SolarBridge had negligible market traction, then the worst case scenario is pretty expensive, and if the pipeline is less robust than expected, the expense is hard to justify.

Paula Mints is founder of SPV Market Research, a classic solar market research practice focused on gathering data through primary research and providing analyses of the global solar industry.  You can find her on Twitter @PaulaMints1 and read her blog here.  This article was originally published in SPV Reaserch’s monthly newsletter, the Solar Flare, and is republished with permission.

Photo credit: Pixabay, dimitrisvetsikas, CC0 Public Domain, https://pixabay.com/en/solar-cells-sun-energy-power-1707841/

It’s not every day when two bankrupt, foreign-owned solar companies apply for trade relief from the U.S. International Trade Commission in order to avoid “serious injury” from their competitors.

The insolvent plaintiffs, Suniva and SolarWorld, argue that they should enjoy the shielding powers offered under Section 201 of the Trade Act of 1974.

But by attempting to impose stiff tariffs on foreign manufacturers and use U.S. law to protect a domestic American market share, the two solar giants risk endangering the entire U.S. solar industry.

Likely banking on protectionist sentiments from the current administration, the two companies are seeking to erect barriers to low-cost non-U.S. competitors in order to prop up their own questionable business models, at the expense of a U.S. solar market that has grown exponentially in recent years.

The International Trade Commission will announce its recommended policy on Friday. If it decides in favor of the two companies, the Trump administration would then decide an appropriate “remedy” for them.

The stakes in this case are high. Any decision short of rejecting the anti-free trade appeal from Suniva and SolarWorld—such as deciding to erect import tariffs or other restrictions—could be ominous for more than just the domestic solar market.

Much as steel tariffs erected in 2002 have a negative impact on jobs and the economy far beyond the steel producers it was designed to bail out, a poor decision from the commission on Friday could send negative ripple effects throughout the economy.

So why exactly are Suniva and SolarWorld looking for special treatment?

Back in 2015, Hong Kong-based Shunfeng International Clean Energy Limited acquired a 63 percent stake in Suniva and expanded a facility in Georgia. But by April 2017, Suniva had filed for bankruptcy protection, closing its other U.S. factory in Michigan.

Suniva’s quick fall from grace stemmed from questionable business practices both in the U.S. and abroad.

Suniva is said to have exported underpowered panels made in the United States and rejected by U.S. consumers to India, allegedly to avoid financial losses. Evidence also points to Suniva-made modules manufactured outside the U.S. being imported into the U.S. market under the guise of being domestically produced.

Hypocritically, Suniva accuses other foreign manufacturers of dumping solar panels at low cost on the U.S. solar market, and wants to reward its foreign debtors by stiffing American solar consumers with tariffs.

More troubling than Suniva’s bankruptcy or mismanagement, the company’s former CFO, Jim Modak, secured a multimillion-dollar financing scheme with SQN Capital Management, based in the United Kingdom. Modak appeared to structure the deal as he was headed out of Suniva and subsequently landed at SQN as its new CFO.

With SQN as its creditor, it is clear that Suniva’s petition to the International Trade Commission is being driven by a foreign actor. Not even the new owner, Shunfeng International Clean Energy, is on board—it rejected the petition of its U.S. subsidiary on the “fundamental principles” of a “free market economy.”

Let’s turn to the case of SolarWorld.

SolarWorld USA was a subsidiary of the global SolarWorld holding company, a business owned by Germany’s “Sun King” Frank Asbeck and Qatari-based QSTec.

Like Suniva, SolarWorld filed for bankruptcy this spring in May 2017. Poor business decision-making threatened the company’s bottom line, as it acquired raw materials for its panel manufacturing at the top of the market to the tune of nearly $750 million.

For both Suniva and SolarWorld, a favorable decision from the International Trade Commission would only protect bad business behavior and uncompetitive companies while lining the pockets of foreign owners and debtors.

It would not help shield, as these companies argue, a domestic solar market from supposedly predatory Chinese solar manufacturers. It would likely just transfer the cost to U.S. consumers, doubling the price of solar panels and throwing tens of thousands of Americans out of their jobs, just as steel-related worker redundancies soared in 2002.

They say sunlight is the best disinfectant. In the case of Suniva and SolarWorld, it is critical that we shed light on their cynical effort to exploit U.S. trade policy to the detriment of American consumers.