residential pv

Sunnova has received a notice of non-compliance from the New York Stock Exchange requiring it to raise its stock price to a minimum of US$1.

SMA Solar posted preliminary net losses of €117.7 million (US$126 million) in 2024—down from €225.7 million in income last year.

Despite revenue improvements, the company signalled doubts over its ability to continue operations and stay afloat over the coming year.

According to Italy’s solar association, last year saw a divergence in the fortunes of the utility-scale and residential solar sectors.

Sunnova said the job cuts are part of “an optimisation of its business" and the cuts will save around US$35 million.

The commercial and industrial (C&I) segment represented the bulk of additions in 2024 with 1,085MW, while residential solar added 346MW.

Under its Home Renovation Savings Program the state government will offer rebates for 30% of the cost of adding solar modules or BESS.

A shift towards residential energy storage has seen Western inverter manufacturers lean into more complex, digital energy management products.

In its Q1-3 2024 financial results, SMA Solar said it will cut up to 1,100 jobs and reduce costs by between €150 and €200 million by the end of 2025.

The decision has been forecast for some months and was welcomed today by Holland Solar, the Dutch solar association, which acknowledged that the current scheme is “no longer sustainable”.