Re: Does anyone care ? If not, ignore this post.
Cheap.
While I don’t disagree with your assessment, I do think you are overlooking the potential with utilities. I have posted on this before. Time for an update. There are currently about 40 states and countries that have enacted some sort of carbon tax, cap-and-trade, or carbon fee and dividend measure. The State of Washington is up next and the trend will likely continue. All of these measures will push utilities toward more efficient and cleaner means of energy generation.
Virtually all utilities want to maintain their central power plant and transmission line business model. And yes, they will do wind farms and utility scale solar because they fall within that model, they are very profitable and utilities still control the means of production. But, Edison Electric Institute, the industry trade association, sees the future, and EEI favors its member utilities moving to a Distributed Generation business model that refocuses on energy services.
A smart Capstone manager would be in contact with EEI on a regular basis. “What utility companies are looking to move to a DG/energy services business model? Then actually contact them - “Here is our product. How can we help facilitate your conversion?” Take Duke Energy for example. They are implementing DG battery energy storage projects in the Carolinas - alongside substations to meet peak demand. No reason Cappers couldn’t be used for the same thing.
Jamison has said he is willing to work with utilities, but there is no indication Capstone has made any effort to reach out to them. (I suspect he still thinks of utilities as competitors to be vanquished.) Again, Capstone can limp along with what they do and eventually eke out a profit, but if they can integrate themselves with utilities, the sky is the limit for this stock.
Andy