When will SunPower sell its assets?

The sale of SunPower’s assets is expected to be completed by late 2024, marking the end of a company that was founded in 1985. As the solar industry continues to evolve, the collapse of a major player like SunPower serves as a reminder of the volatility and competitive pressures in the renewable energy market.

Are solar energy problems affecting small businesses?

Four renewable energy and solar contractors around the US ended up in bankruptcy proceedings within the span of just six days in October — signaling that current worldwide solar energy problems could have a serious short-term impact on small businesses.

Is SunPower a liquidation?

Despite filing for Chapter 11, which typically allows a company to restructure rather than liquidate, SunPower’s situation looks like a liquidation. In July, the company paused several key operations, including new product shipments and leasing and purchasing agreements. This pause signaled growing difficulties within the company.

Which solar companies have faced regulatory action?

They include Pink Energy and Vision Solar, which like other operators in the industry faced regulatory action and numerous consumer complaints. Customers are left with solar panels on their homes that they may or may not want.

Why did solar contractors go out of business in 2023?

In 2023, the solar industry witnessed a significant number of contractors going out of business, a trend fueled by a confluence of economic and policy-driven factors. : The Federal Reserve raised interest rates to combat inflation, inadvertently affecting the solar sector.

How does California's solar policy change affect contractors' business?

This policy change directly impacted contractors’ business, as California is one of the largest solar markets in the U.S. The closure of numerous solar contractors in 2023 has sent ripples through various facets of the solar market, affecting customers, ongoing projects, and the industry.