by Martin Armstrong, Armstrong Economics:
Sunnova Energy, a solar panel company based in Texas, has filed for bankruptcy. It is not shocking for a solar panel company to go under as the demand is simply not there. Upfront costs could range into tens of thousands and it takes years to see actual savings. The Biden Administration spent more than any past administration on climate initiatives, so it is of no surprise that Biden’s Department of Energy awarded numerous loans to solar companies. Sunnova Energy in particular profited $3 billion from a partial loan in September 2023.