SunPower Bankruptcy Highlights Challenges in US Residential Solar Industry

High interest rates and subsidy cuts have created a tough environment for solar firms, leading to the downfall of a major player.

SunPower Corp. has filed for Chapter 11 bankruptcy, citing financial missteps and a challenging market environment.
High interest rates and reduced subsidies in California have significantly impacted the affordability and demand for residential solar panels.
Sunrun sees an opportunity to capture market share from SunPower's exit, boosting its stock by nearly 14%.
SunPower's bankruptcy involves selling key assets to Complete Solaria for $45 million, pending court approval.
The broader US residential solar market is projected to see a 14% decrease in installations this year.