Sunnova

Many people remember Solyndra, the solar panel company that collapsed into bankruptcy in 2011, owing taxpayers $500 million for government loan guarantees but not many are familiar with the new kid on the block, Sunnova. This company was founded in 2012 with a great idea. They would build solar panels to install on homes. They would charge no money down and get monthly payments that were mostly covered by the homeowners saving in electric bills. They also qualified for the 30% tax credits. The company took off with the help of a $3 billion loan from the government. In 2021 the company went public and the stock rose to $48 but by 2025 the company filed for bankruptcy. They fell victim to the same problem that plagued Solyndra. They could not make a profit because they could not compete with low-cost panels from China.