SunEdison, which bills itself as the largest green energy company in the world, a company the National Review reports has received more than $1.5 billion in state and federal government subsidies and loan guarantees, is preparing to file for bankruptcy protection from its creditors.
SunEdison’s financial collapse would rank as one of the largest in recent years. The company had a market value of more than $10 billion in July of 2015 with its stock trading at approximately $32 per share. Now the company, saddled with nearly $8 billion in long-term debt, is valued at just $150 million, with its stock trading at less than $1.00 per share.
According to the Securities and Exchange Commission (SEC), SunEdison is considering a mass liquidation of its assets, noting the company is delaying its annual financial reports to the SEC.
Compounding SunEdison’s financial difficulties, the company is also being investigated by the Justice Department and the SEC concerning its finances and disclosures...
Forty U.S. states have net metering policies under which households or businesses with rooftop solar panels can sell electricity they generate above what they actually use back to solar utilities at retail rates. The increase in the price of electricity to utility customers as a result of the growth of solar power due to the net metering incentives has prompted 25 states to begin reconsidering their policies.
In California, where opinion polls show solar power to be widely popular, by a narrow...
A new study published by the Massachusetts Institute of Technology says renewable energy sources will be unable to compete with conventional energy without government support or high taxes on fossil fuels for at least a decade.
The authors also conclude renewable energy may always need government assistance to stay in business.
The study’s authors say while renewable energy has made promising gains in the past few years—the cost of solar dropped by about two-thirds from 2009 to 2014—new...
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