The US Department of Energy (DOE) has downsized a loan guarantee to US residential solar installer Sunnova from an initial US$3 billion to US$371.6 million.

According to the company, this amount equates to the total partial guarantees previously issued for the company’s related securitisations.

Try Premium for just $1

Full premium access for the first month at only $1
Converts to an annual rate after 30 days unless cancelled
Cancel anytime during the trial period

Start $1 Trial

Premium Benefits

Expert industry analysis and interviews
Digital access to PV Tech Power journal
Exclusive event discounts

Or get the full Premium subscription right away

Get Premium Subscription

Or continue reading this article for free

Get Basic (FREE) Subscription

The company disclosed this information in an 8-K filing with the Securities and Exchange Commission on May 29 2025, in which it stated that the Loan Guarantee Agreement with the US DOE had been amended on 22 May 2025.

Sunnova had secured loan funding from the DOE back in 2023, with the funds aimed at expanding the company’s energy monitoring and analysis platform. At the time, the residential installer announced that it would provide “monthly servicing” reports to the DOE using the data collected from its platforms, alongside information on greenhouse gas reduction derived from customers installing its solar panels, rather than using electricity generated by fossil fuels.

This downsizing of the loan guarantee comes at a time when the company is facing a second year of losses with US$448 million in losses in 2024. More recently, the company received a notice of non-compliance from the New York Stock Exchange (NYSE) requiring it to raise its stock price to a minimum of US$1.

The downsizing of the loan guarantee to Sunnova comes days before the DOE terminated 24 awards issued by the Office of Clean Energy Demonstrations (OCED), which totalled over US$3.7 billion in financing. Carbon capture and sequestration (CCS) was the primary technology awarded funding, along with other decarbonisation initiatives. However, the DOE did not disclose a list of the 24 projects that saw their financing terminated.

Amended on 03 June 2025 to clarify that it was a loan guarantee and not a loan.

UPCOMING EVENT

PV CellTech USA 2025

7 October 2025

San Francisco Bay Area, USA

PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

UPCOMING EVENT

Solar & Storage Finance USA 2025

21 October 2025

New York, USA

Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

UPCOMING EVENT

PV ModuleTech USA 2026

16 June 2026

Napa, USA

PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

doe, funding, loan facility, residential solar, ssfusa, sunnova, us, us doe

Longroad reaches financial close for 400MW Texas solar project

September 17, 2025

US renewables developer Longroad Energy has reached financial close for its 400MW 1000 Mile solar project in the US state of Texas.

Nexamp secures US$350 million financing from Macquarie

September 17, 2025

Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US.

California passes bills to reduce energy prices, ‘applauded’ by SEIA and CEBA

September 17, 2025

The California State Legislature has passed two bills that aim to reduce energy prices in the state, AB 825 and SB 302.

Self-consumption keeps falling in Spain, sector adds 611MW in H1 2025

September 17, 2025

For the third year in a row, self-consumption installs have fallen in Spain, with 611MW of new additions in the first half of 2025, according to a report from trade body APPA Renovables.