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Solar installer Sunnova races to raise cash as it issues ‘going concern’ warning
The entire solar industry has been bracing for a rough road ahead.
The stock is currently down around 68% as investors gauge the risk that Sunnova is headed for bankruptcy, a frequent outcome for companies that issue such warnings. By spreading the cost of rooftop solar out over many years, consumers don’t have to pay up front and often save relative to their monthly utility bills. On the policy front, the Inflation Reduction Act extended tax credits that were set to expire at the end of last year.
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