Quote:
Originally Posted by CoachKandSportsguy
Bloomberg:
Sunrun Takes $1.2 Billion Charge in Latest Blow to Solar
The promise of the renewable energy industry, underscored by Sunrun Inc.’s acquisition of Vivint Solar three years ago, had investors rushing to jump in. Now, solar stocks are facing a major sell-off, spurring Sunrun to take a $1.2 billion charge to write down the value of its purchase.
The move at the biggest US rooftop solar company comes on the heels of a string of bad news across the sector. SunPower Corp. tumbled 5.6% Wednesday after cutting its full-year guidance due to weaker demand for its rooftop solar systems. SolarEdge Technologies Inc., which makes inverters that allow homes to use solar power, saw its stock plunge more than 20% in late trading Wednesday.
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There is one problem with solar panels and electric cars, they are only economical with subsidies. This cannot continue forever and when the free market is in play the sales will fall as neither is a good investment.