Topics
Latest
AI
Amazon
Image Credits:Marty Caivano/Digital First Media/Boulder Daily Camera / Getty Images
Apps
Biotech & Health
Climate
Image Credits:Marty Caivano/Digital First Media/Boulder Daily Camera / Getty Images
Cloud Computing
mercantilism
Crypto
Enterprise
EVs
Fintech
Fundraising
gadget
stake
Government & Policy
Hardware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
security system
Social
Space
Startups
TikTok
DoT
speculation
More from TechCrunch
event
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
reach Us
Solar installerSunnovaissued a “ going business organization ” warning as the fellowship runs short on immediate payment .
Thestockis currently down around 68 % as investors judge the risk that Sunnova is head for bankruptcy , a frequent outcome for company that write out such warning . In a bid to stave in off insolvency , Sunnova tell Monday it is be after to refinance debt , bring up new debt , and cut expenses .
Houston - based Sunnova is one of the largest solar installers in the U.S. , fetch in $ 840 million in revenue last year . Sunnovareporteda net loss of $ 447 million in 2024 , a narrow loss than the late yr . The caller had once been respect at as much as $ 4.5 billion . Its market jacket has since plunged to around $ 63 million .
The news comes as the solar industry has been bracing for a rough route before . Last week , Sunrun , the country ’s largest installer , loweredits guidance for hard currency generation in 2025 on expectations that installations will be flat this class .
Much of the manufacture ’s turbulence can be traced to high-pitched interest rates and uncertainty about the future of the Inflation Reduction Act .
Solar installers have profit in the past from low pastime rate , which make solar loans and leasing attractive to consumers . By spreading the toll of rooftop solar over many years , consumer do n’t have to yield up front and often carry through proportional to their monthly utility program bills . But as rates have risen , it can take longer for consumer to profit financially .
On the policy front , the Inflation Reduction Actextended tax creditsthat were set to expire at the end of last class . The newfangled credits run through 2032 , though the Trump administration has consecrate to ravel out the law .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
The lookout is n’t bleak everywhere . First Solar , a large solar producer , bunk the streetin its Q4 earnings report , sending the stock up . And in many cases , solar continue the cheapest course of raw generating capacity .
There ’s a grounds that insider refer to the industriousness as the “ solar coaster . ”
