Bankrupt Sunnova to sell solar servicing platform to Omnidian for $7 million
Omnidian would take over management of many of the bankrupt residential solar company’s existing customers should the stalking horse sale close.
Sunnova solar assets stable, paying interest, while bankruptcy continues
Bond analyst KBRA, which has rated $6 billion of solar-backed securities issued by the recently bankrupt Sunnova, is maintaining its ratings and says the loan and lease packages remain stable investments, independent of the reorganizing company.
U.S. residential solar on the brink of collapse
Residential solar is on a downturn, and things may get worse. In a shock for the industry, the latest draft of the “One Big Beautiful Bill Act” excludes residential solar lease providers from the Investment Tax Credit.
Residential solar expected to grow 9% annually through 2030
U.S. Solar Market Insight Q2 2025 report sees great potential in the residential solar market despite current challenges including the tariff effect on supply chain, potential elimination of tax credits and continued high interest rates.
Sunnova files for bankruptcy
The troubled residential solar company entered into asset and power purchase agreements to support operations while it seeks a buyer.
Sunnova subsidiary files for bankruptcy protection
The residential solar company has been in a downturn for more than a year, with earnings misses, layoffs, changes in leadership and cancellation of a $3 billion loan guarantee.
Sunnova’s saga continues with canceled $3 billion loan guarantee
The loan agreement from the Energy Department’s Loan Programs Office was to support Project Hestia, a model that Sunnova has since moved away from in favor of power purchase agreements.
Sunnova makes more leadership changes
In an attempt to enhance the struggling company’s financial position, Sunnova appoints an interim CFO and executive VP of operations.
Oaktree Capital reported to buy $400 million of Sunnova debt
The troubled residential solar installer issued a going concern warning earlier this month.
Amid financial turmoil, Sunnova awards $2.12 million in bonuses to top executives
The bonuses fall on the cusp of the company’s recent layoffs, resignation of its CEO and bankruptcy rumors.
