Solar panel company gone into liquidation

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.

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.

What happened to solar panels?

Major companies like Titan Solar Power and ADT Solar have already gone under, leaving thousands of customers unsure of what to do with their solar panel systems. And in August, one of the largest and oldest solar companies in the U.S., SunPower, filed for bankruptcy and was delisted from the Nasdaq stock exchange.

What happens if a solar company goes bankrupt?

Fortunately, bankrupt installers are frequently acquired by other solar companies, allowing service agreements and warranties to continue mostly uninterrupted. The fact that a company has filed for bankruptcy doesn't necessarily mean that its customers will lose support for the products or services that they've purchased.

What if a solar manufacturer goes out of business?

One option for hedging against solar manufacturer bankruptcy concerns is to purchase an extended warranty from your solar installer, which can cover everything from repairs to replacing your panels. This way, if your equipment manufacturer goes out of business, your installer is still contractually obligated to honor its warranty.

Is SunPower a liquidation?

Despite filing for Chapter 11, which typically allows a company to restructure rather than liquidate, SunPower’s situation looks like a liquidation. In July, the company paused several key operations, including new product shipments and leasing and purchasing agreements. This pause signaled growing difficulties within the company.