More than 700 workers at Sunnova Energy in Houston lost their jobs this week as the solar power manufactured filed for Chapter 11 bankruptcy, another sign that things were anything but sunny for the nation’s solar industry.
It’s the latest renewable energy firm to fall victim to weakening sales and growing debts, the result of last year’s stock crash in wind and solar industries.
Plus, the government’s decision to cut subsidies for solar power projects hit the industry hard, affecting companies like Sunnova.
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