solar industry

Sunnova Energy's Solar Eclipse: Major Layoffs Amidst Financial Struggles

Sunnova Energy, a leading Houston-based solar company, faces turbulent times as it lays off 718 employees—55% of its workforce—in a drastic cost-cutting move. The layoffs, attributed to financial difficulties and the bankruptcy of a subsidiary, reflect broader industry challenges. With nearly 1,000 job losses this year, Sunnova's struggles underscore the impact of high-interest rates, reduced subsidies, and policy uncertainties on the solar sector.