by Wolf Richter
Wolf Street
The stock market’s solar craziness gets cleaned out stock by stock, even as solar-power generation continues to soar.
Sunnova Energy International, which booked huge losses every single year selling residential solar energy equipment and services – $1.61 billion in total losses since 2017 – said on Sunday that it and its subsidiaries Sunnova Energy Corporation and Sunnova Intermediate Holdings, LLC, filed for Chapter 11 bankruptcy in Texas. Its subsidiary Sunnova TEP Developer had already filed for bankruptcy on June 1. In the filing, it said that it would continue operating as “debtor in possession” while trying to sell some of its assets under court supervision.