Sunnova Energy slips 38%, files for Chapter 11

June 09, 2025 02:45 AM PDT | By EODHD

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Sunnova Energy slips 38%, files for Chapter 11 — Image source: Kalkine Media

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[Solar panels on the tiled roof of the building in the sun. Top view through grape leaves. Image for illustration on energy, self-reliance, autonomy and security.] Lari Bat/iStock via Getty Images * Sunnova Energy International (NYSE:NOVA [https://seekingalpha.com/symbol/NOVA]) stock slipped 38% on Monday during pre-market hours of trading as the company filed for Chapter 11 bankruptcy protection in the U.S. * The residential solar panel installer cited a massive debt burden and weak demand as primary reasons for the filing. * In court documents, Sunnova estimated both its assets and liabilities to be between $10 billion and $50 billion.

* The company said last week it would lay off about 55% of its workforce, or 718 employees, in a bid to cut spending. * The bankruptcy filing comes amid significant challenges for the U.S. residential solar sector, including rising interest rates, reduced incentives in California, and the threat of subsidy cuts for renewable energy. MORE ON SUNNOVA ENERGY INTERNATIONAL * Sunnova Energy slashes workforce by 55% as subsidiary files for bankruptcy [https://seekingalpha.com/news/4456032-sunnova-energy-slashes-workforce-by-55-as-subsidiary-files-for-bankruptcy] * Sunnova slides after unit files for bankruptcy in Texas [https://seekingalpha.com/news/4454545-sunnova-slides-after-unit-files-for-bankruptcy-in-texas] * Seeking Alpha’s Quant Rating on Sunnova Energy International [https://seekingalpha.com/symbol/NOVA/ratings/quant-ratings] * Historical earnings data for Sunnova Energy International [https://seekingalpha.com/symbol/NOVA/earnings] * Financial information for Sunnova Energy International [https://seekingalpha.com/symbol/NOVA/income-statement]

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