In 2017 Hurricane Irma wreaked havoc here in South Florida.
Everyone pulled together to rebuild.
Just a couple of days later, we had cleaned up most of the debris. Things started to look normal.
However, there was still one huge issue…
The power plants had shut down. And our electric grid sustained serious damage.
The power outage in my neighborhood lasted over a week.
But I was lucky. There were some communities without power for over a month.
Small generators didn’t help much. I wished I had something better.
And I know I’m not the only one who feels this way…
The Demand for Battery Storage Is Rising
A 2020 Sunrun survey said 66% of U.S. homeowners were interested in home batteries.
The main reason was power outages.
One-third of U.S. homeowners said they expect to lose power at some point.
This is a huge problem in states like California that have more natural disasters.
And our aging power grid is struggling to keep up.
In fact, 2020 was the worst year ever for outages.
The Energy Information Administration said there were 1.33 billion hours of power outages last year.
That’s 73% higher than 2019!
Home Battery Storage Costs Are Falling
The allure of home battery storage doesn’t end there.
The National Renewable Energy Lab says costs will drop nearly 50% by 2030.
(Source: The National Renewable Energy Lab.)
Rising power outages and falling prices will fuel the adoption of home battery systems.
MarketsandMarkets expects the global home battery market to grow to $17.5 billion by 2024.
That’s a 22.8% compound annual growth rate!
You could profit off of this trend by investing in battery storage. But batteries are just part of the solution.
Check out Ian King’s latest presentation to learn more.
Research Analyst, Strategic Fortunes
From open till noon Eastern time.
Pure Storage Inc. (NYSE: PSTG) is a provider of technology and data storage solutions. It is up 13% this morning after reporting results for Q3 that beat both earnings and revenue estimates thanks to increased customer demand across all of its segments.
Recursion Pharmaceuticals Inc. (Nasdaq: RXRX) is a biotechnology company that is integrating automation and data science with biology and chemistry to industrialize drug discovery. It is up 13% as part of a bounce-back from hitting its 52-week low Tuesday after some insiders sold their shares.
Global-e Online Ltd. (Nasdaq: GLBE) provides a platform that enables direct-to-consumer cross-border e-commerce. It is up 12% on the news that it is acquiring Flow Commerce, a competitor that focuses on similar services for smaller merchants, in a deal valued at $500 million.
RLX Technology Inc. (NYSE: RLX) is a Chinese company that makes and sells e-vapor products. It is up 12% this morning but has no real news driving the move.
Instil Bio Inc. (Nasdaq: TIL) is a clinical-stage biopharmaceutical company that develops therapies for the treatment of patients with cancer. It is up 11% this morning as the stock recovers from a sell-off that started at the beginning of the week.
HP Inc. (NYSE: HPQ) the PC maker and technology company, is up 10% this morning on earnings news. It managed to beat analyst estimates for Q3 thanks to increased business demand for PCs with offices starting to reopen.
Guardant Health Inc. (Nasdaq: GH) is a precision oncology company that provides blood tests, data sets and analytics. It is up 10% on the news that the company’s CEO and director recently bought more shares of the company.
Tuya Inc. (NYSE: TUYA) operates an Internet of Things cloud development platform. It is up 9% today on a bounce-back after sinking temporarily Tuesday on a less-than-impressive Q3 report.
Star Bulk Carriers Corp. (Nasdaq: SBLK) is a shipping company that engages in the ocean transportation of dry bulk cargoes worldwide. It is up 9% on recent positive media coverage over the company’s future earnings potential.
Flywire Corp. (Nasdaq: FLYW) operates as a payment enablement and software company. It is up 9% this morning despite having no news to report.