T1 Energy (TE)
Manufactures U.S. solar modules while adding domestic cells and utility-scale battery storage.
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Manufactures photovoltaic modules in Texas for utility, commercial and residential projects, earning revenue from module sales while monetizing federal manufacturing credits. Builds an in-house cell supply chain through G2_Austin and has added battery-storage engineering, controls software and project delivery through T1 NRI.
Manufactures photovoltaic modules at G1_Dallas in Texas for utility-scale, commercial, industrial and residential projects. The automated 5 GW plant has reached full production and can switch between PERC and TOPCon formats; module sales remain the main revenue source.
Builds G2_Austin to bring TOPCon solar-cell production in-house and increase domestic content. The project remains under construction and requires additional financing. The newly acquired T1 NRI operation designs, installs and operates utility-scale battery storage systems and develops supporting controls software.
Execution centers on running G1_Dallas, completing G2_Austin, and integrating storage capabilities, while legacy Nordic assets are being evaluated for monetization. Module production still relies on third-party cells; economics depend on federal manufacturing credits, trade policy and domestic-content rules.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Vertical Research | Initiate | Rating: —Target: — | Target: $5 |
| Aug 12, 2026 | BTIG | Reiterate | Rating: —Target: $7 | Target: $9 |
| Jun 16, 2026 | Bernstein | Target | Target: — | Target: $9 |
| Jun 3, 2026 | Northland Securities | Target | Target: — | Target: $16 |
| Dec 23, 2025 | Roth Capital | Target | Target: $7 | Target: $15 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $79.1M · Total debt $778.5M · Total assets $1.64B · Shareholders' equity $275.3M
- Revenue
- $250.1M
- Operating income
- −$22.8M
- Net income
- −$43.5M
No dividends on record.
| Institutions | 0.00% | 1.0K shares | |
|---|---|---|---|
| 1 holder · as of Sep 30, 2025 | |||
| Insiders | 3.42% | 10.07M shares | |
| 12 holders · as of Aug 26, 2026 | |||
| Strategic holders | 38.14% | 112.35M shares | |
| 5 holders · as of Aug 19, 2026 | |||
| Other | 58.44% | 172.11M shares | |
| remainder | |||
294.53M company shares as of Sep 22, 2026 · institutions as of Sep 30, 2025 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Encompass Capital Advisors LLCStrategicdirector, 10 percent owner, other: See Remarks | 11.87% | 34.97M | filed Nov 4, 2025 |
Trina Solar (Schweiz) AGStrategic10 percent owner | 10.41% | 30.65M | filed May 26, 2026 |
Millennium Management LLCStrategic | 5.52% | 16.27M | filed Aug 19, 2026 |
State Street CorporationStrategic | 5.29% | 15.59M | filed Aug 7, 2026 |
BlackRock, Inc.Strategic | 5.05% | 14.87M | filed Apr 27, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 22, 2026 | Trina Solar (Schweiz) AG | 10 percent owner | −9,500,000 | $8.14 |
| May 21, 2026 | Trina Solar (Schweiz) AG | 10 percent owner | −13,000,000 | $8.69 |
| Sep 23, 2025 | Tore Ivar Slettemoen | director | −376,106 | $1.92 |
| Sep 22, 2025 | Tore Ivar Slettemoen | director | −384,349 | $1.97 |
- First Solar
Head-to-head in US utility-scale modules, domestic cell fab, and 45X economics
- Canadian Solar
Delivered 8.1 GW to US in FY2025; HJT cell fab in Indiana in trial production
- JinkoSolar (ADR)
Global #1 module maker; TOPCon; 2 GW US plant; OBBBA-barred from 45X
- Fluence Energy
Global BESS leader with $5.6B backlog and US domestic-content supply chain
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| T1 Energy | $4.39 | −1.46% | $1.24B | — | — | 1.2 | +276.3% |
| First Solar | $200.60 | +0.38% | $21.48B | 12.3 | 9.4 | 4.0 | −3.7% |
| Canadian Solar | $11.66 | −0.93% | $799.1M | — | — | 0.2 | −28.7% |
| JinkoSolar (ADR) | $10.37 | −1.80% | $138.3M | — | — | 0.0 | −27.7% |
| Fluence Energy | $7.16 | −3.05% | $1.36B | — | — | 0.5 | +7.9% |
| Median | 12.3 | 9.4 | 0.3 | −15.7% |