18 Mar '17, 6am

Residential Solar: A Buyer's Market - Renewable Energy World

Residential Solar: A Buyer's Market - Renewable Energy World

This week, residential solar platform Sungevity filed for bankruptcy , adding to the list of troubled companies in the solar industry. The company was touted as having an asset-light model relative to competitors, but never gained significant market share. Last year, the company planned to go public through a special-purpose acquisition vehicle (SPAC or blank check company), but the transaction was cancelled. In January, the company had cut 100 staff and last week cut another 400 in advance of the bankruptcy filing. Here is a summary of companies that have faced a similar fate: Verengo Solar : Filed for bankruptcy in November of 2016 and sold assets to Crius Energy for $11 million. Verengo's headcount reached 1,000 in 2013 and it was one of the top residential solar installers. The company's troubles may have begun as early as 2014 when it reportedly attempted a sale. NRG ...

Full article: http://www.renewableenergyworld.com/ugc/articles/2017/03/...

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