How did SunPower's bankruptcy affect the solar industry?

Even before the bankruptcy filing, SunPower ceased solar lease and PPA offerings, creating problems that reverberated through the industry. The effects trickled down to dealers and installers like Renova Energy, a major SunPower partner that services the Nevada and California markets and maintains an excellent 4.9-star rating on SolarReviews.

What if SunPower goes bankrupt?

Other groups will be able to submit bids during the bankruptcy process. SunPower acquired Blue Raven in 2021 for $145 million in cash, meaning the $45 million lowest bid would be a shocking decrease in the company's value. SunPower also plans to sell other assets during the bankruptcy process.

Did solar installer file for bankruptcy?

The residential solar installer has filed for bankruptcy, among the largest in a series of major bankruptcies in the industry. Solar technician on a rooftop. Residential solar company SunPower (Nasdaq: SPWR) has filed for bankruptcy.

Is SunPower going out of business?

The bankruptcy filing marks what could be the beginning of the end for the nearly 40-year-old company, which was once one of the nation’s largest solar providers. At the end of 2023, SunPower had installed nearly 586,000 solar systems.

Is SunPower bankruptcy a reorganization?

The first thing to know about the SunPower bankruptcy is that it’s a Chapter 11 (or reorganization) bankruptcy, which is quite different from a Chapter 7 (or liquidation) bankruptcy.

Will SunPower sell assets during bankruptcy?

SunPower also plans to sell other assets during the bankruptcy process. For Complete Solaria, the SunPower asset purchase would be its second major acquisition of the year, following its purchase of Core Energy in July.