How SunPower Narrowly Avoided Bankruptcy With ‘Trojan Horse' Rescue Deal
SPWRSunPower(SPWR) Forbes·2024-02-22 23:47

Higher interest rates have made it more expensive to finance new solar panels. getty SunPower reported pretty dismal 2023 results last week. For the year the residential solar company lost 247millionon247 million on 1.7 billion in revenue. It burned through $300 million in cash, and didn’t even have any growth to show for it. In the fourth quarter installations were down 4% over the previous year, while new bookings fell 9%. Short on cash, in December SunPower defaulted on hundreds of millions of dollars in first lie ...