Ryan Hanley is the VP of Grid Engineering Solutions at SolarCity.
Distributed energy resources (DER), and the customers who deploy them, are no longer new to the energy space. Consumer-sited DERs such as rooftop solar, stationary batteries, electric vehicles, smart inverters, and dynamic loads are showing up in homes and business across the country, even making appearances at booths within Consumer Electronics Shows. In fact, Navigant research forecasts that DERs will more than double in penetration in the next 7 years in the United States, growing three times faster than new central station energy generation. While DERs no longer sit on the sidelines with consumers, the industry still has progress to make before fully unlocking the technical potential of these assets to improve grid design, operations, affordability, and consumer satisfaction.
In this CITRIS seminar, Ryan Hanley will highlight the potential that distributed energy resources hold for driving innovation in grid design, planning, and operations. Ryan will speak to SolarCity’s new cutting edge research, product development, and field deployments and while identifying opportunities for energy industry stakeholders to tackle some of the obstacles that inhibit the full utilization of DERs.
Although foreigners may now invest in A-shares, there is a monthly 20 percent limit on repatriation of funds to foreign countries.
Performance of A-shares.
Since its inception in 1990, including a major reform in 2002, the index has seen great fluctuations. Overall, however, it has grown along with the Chinese economy. The years 2015 to 2016 were a particularly difficult period, with a 52-week performance of -21.55 percent as of July 20, 2016.
As China grows from an emerging market to an advanced economy, there is substantial demand for Chinese equity. Stock exchange regulators continue efforts to make A-shares more broadly available to foreign investors and have them recognized by the global investing community.
In June 2017, the MSCI Emerging Markets Index announced a long-awaited decision it would add stocks to its index. According to CNBC, MSCI will add 222 China A Large Cap stocks to its benchmark emerging markets index gradually beginning in 2018. The MSCI website reveals the stocks it will list include the Bank of China, China Merchants Bank, Guotai Junan, Ping An Insurance, according to a document on Tsingtao Brewery, SAIC Motor, Suning Commerce and Spring Airlines.
Current Dividend Preference.
Participating Preferred Stock.
Convertible Preferred Stock.
Cumulative preferred stock includes a provision that requires the company to pay preferred shareholders all dividends, including those that were omitted in the past, before the common shareholders are able to receive their dividend payments.
Non-cumulative preferred stock does not issue any omitted or unpaid dividends. If the company chooses not to pay dividends in any given year, the shareholders of the non-cumulative preferred stock have no right or power to claim such forgone dividends at any time in the future.
Participating preferred stock provides its shareholders with the right to be paid dividends in an amount equal to the generally specified rate of preferred dividends, plus an additional dividend based on a predetermined condition. This additional dividend is typically designed to be paid out only if the amount of dividends received by common shareholders is greater than a predetermined per-share amount. If the company is liquidated, participating preferred shareholders may also have the right to be paid back the purchasing price of the stock as well as a pro-rata share of remaining proceeds received by common shareholders.
Significance to Investors.