New Energy
Sunnova’s 71% Stock Plunge Heralds US Solar State of ‘Chaos’
- Trump is pushing to unravel green-friendly energy policies
- ‘With risk, comes a holding back of new investments’
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Sunnova Energy International Inc. shares plunged 71% as the company warned there’s substantial doubt it will remain in business. That came less than a week after First Solar Inc., the biggest US solar manufacturer, said it was seeing increasing customer delays. And it was also on the heels of Sunrun Inc., the biggest US residential solar company, saying it expects installation volumes to be flat this year.
The US solar industry is in the midst of the biggest reckoning it’s faced since going mainstream more than a decade ago.