There wasn't much good news for the solar industry this week, as earnings season brought bad report after bad report. Residential solar companies are suffering most because of policy changes in Europe and California, just as higher interest rates were making it harder to economically build solar projects.

The three most impacted companies this week were Sunrun (NASDAQ: RUN) which fell 27% for the week; SolarEdge Technologies (NASDAQ: SEDG), dropping 21.4%; and Sunnova Energy (NYSE: NOVA), which was off 32.7%, according to data provided by S&P Global Market Intelligence.

Last week,  reported results, and management expected results to improve later in 2024, but the start of the year would be rough. On top of that, SunPower raised money at very diluted terms, which showed the tough financing environment for the industry.

Continue reading

Source Fool.com