It looks like the rush to solar energy is slowing down as a lot of solar equipment providers and installers have gone belly up. Rising inflation and interest rates combined with a fall in demand have put solar companies in precarious financial states.
According to a post by Solar Insure, a provider of solar-monitoring and warranty-protection services, there have been more than 100 solar bankruptcies in 2024 alone, a number “unseen before” in its “almost 20 years in the solar sector,” the company said.
Communities facing potential solar development should keep this downward trend in mind when dealing with developers.
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