Recently, U.S. residential solar installer Sunnova announced a significant personnel adjustment plan, involving layoffs of approximately 300 employees, which account for about 15% of the company’s total workforce. The layoffs aim to reduce costs and streamline operations, saving Sunnova $35 million in annual cash outlays.
Previously, U.S. solar giant SunPower announced on April 24, 2024, that due to market conditions and mounting financial pressures, the company would lay off approximately 1,000 employees, representing 25% of its total workforce. In February 2024, U.S. company ADT announced its complete exit from the residential solar business, focusing instead on its core security and smart home sectors. These events indicate that the U.S. residential solar market is undergoing significant adjustments.
However, Sunnova now finds itself compelled to implement layoffs. From a broader industry perspective, the U.S. residential solar market has struggled in recent years. In 2023, Sunnova reported revenues of 722 million but incurred a net loss of 330 million, highlighting its financial pressures.
