Although the U.S. solar industry continues to grow, several factors are driving this downturn in demand: High interest rates and net metering rollbacks have reduced the financial benefits of going solar for homeowners, while shifting government policies are causing uncertainty for the future of clean energy incentives, putting heavy financial pressure on companies like Sunnova and SunPower that rely on customers taking out loans or leases to pay for the cost of going solar over time.
High interest rates
High interest rates have negatively impacted the solar industry in recent years. On average, installing solar panels costs around $29,000, leading 39% of homeowners to rely on loans and financing to pay for their installations. While…
