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SolarEdge, which warned two weeks ago that results would be weaker than expected due to slack demand, estimated fourth-quarter revenue of $300 million to $350 million, far below analysts' expectations of $719 million. (Bloomberg) -- The promise of the renewable energy industry, underscored by Sunrun Inc.'s acquisition of Vivint Solar three years ago, had investors rushing to jump in. [Extracted from the article]

Sunrun's shares have slumped about 64% since it announced the agreement to buy Vivint in a deal with a $3.2 billion enterprise value in July 2020. Sunrun's goodwill - which was reduced from $4.3 billion to $3.1 billion - primarily arose from the all-stock acquisition of Vivint Solar in October 2020, with the majority based on the market capitalizations at the time of the purchase, the San Francisco-based company said Wednesday. [Extracted from the article]

Sunrun's goodwill - which was reduced from $4.3 billion to $3.1 billion - primarily arose from the all-stock acquisition of Vivint in October 2020, with the majority based on the market capitalizations at the time of the purchase, the San Francisco-based company said Wednesday. (Bloomberg) -- Sunrun Inc. recorded a $1.2 billion charge in the third quarter to write down the value of Vivint Solar, the rival it bought about three years ago, as a slump in rooftop-solar stocks and a short-seller campaign weighs on its share price. [Extracted from the article]

The goodwill primarily arose from the all-stock acquisition of Vivint Solar in October 2020, with the majority based on the market capitalizations at the time of the purchase, San Francisco-based Sunrun said. (Bloomberg) -- Sunrun Inc. recorded a $1.2 billion charge for the third quarter related to the rooftop solar installer's purchase of rival Vivint Solar. [Extracted from the article]

Read more: Los Angeles on Fire Alert as Santa Ana Returns: Weather Watch ©2023 Bloomberg L.P. (Bloomberg) -- Southern California Edison cut power to about 3,300 homes and business on Sunday and warned it could shut off an additional 171,000 customers due to dangerous fire weather conditions buffeting the Los Angeles region. [Extracted from the article]

Poppe is scheduled to discuss the plan Friday with state regulators who have pushed back with their own proposal they say is cheaper and faster for Californians, who already face some of the highest power rates in the country. (Bloomberg) -- PG&E Corp. Chief Executive Officer Patti Poppe is making a last-ditch effort to convince California to sign off on the utility's $5.9 billion plan to put power lines underground to prevent wildfires. [Extracted from the article]

Sunnova's adjusted earnings before interest, taxes, depreciation and amortization was $40.4 million, lower than the analyst estimate of $61.1 million. (Bloomberg) -- Sunnova Energy International Inc. reversed a drop in post-market trading after the rooftop solar company initiated a 2024 earnings forecast above expectations while reporting third-quarter results that fell short of Wall Street estimates. However, Sunnova initiated 2024 adjusted EBITDA guidance between $350 million and $450 million, above analyst estimates of $332 million compiled by Bloomberg. [Extracted from the article]

(Bloomberg) -- An earnings restatement from SunPower Corp. and a short seller's notice on Sunrun Inc. helped drag solar stocks lower, as investors brace for what could be a round of disappointing quarterly reports across the industry. The solar installer said the customer data provided to the US Energy Information Administration and its own reported subscriber count are not comparable as the short-seller alleges in its report. [Extracted from the article]

SolarEdge Revenue Drop Is "Warning Shot" for Home Solar Industry (Bloomberg) -- The rooftop solar industry is facing struggles that will eat into profits as panel inventories pile up and demand from consumers slackens due to higher borrowing costs and other inflationary pressures. SolarEdge's profit cut "is a warning shot for residential solar", said Rob Barnett, senior analyst for Bloomberg Intelligence. [Extracted from the article]

The proposal comes in the wake of a similar decision adopted by the CPUC last year that slashed rooftop solar incentives for homeowners. (Bloomberg) -- California regulators are delaying a vote on a proposed decision that would slash incentives for schools, apartment dwellers and farmers to install rooftop solar panels. [Extracted from the article]

(Bloomberg) -- PG&E Corp. will pay a $45 million penalty for its role in starting the second-largest wildfire in California history under a settlement proposal issued by state regulators. The California utility giant agreed to the shareholder-funded penalty proposed by the California Public Utility Commission's safety division, according to a filing Monday. [Extracted from the article]

(Bloomberg) -- PG&E Corp. will pay a $45 million penalty for its role in starting the second-largest wildfire in California history under a settlement proposal issued by state regulators. The California utility giant agreed to the shareholder-funded penalty proposed by the California Public Utility Commission's safety division, according to a filing Monday. [Extracted from the article]

Hawaiian Electric has $165 million in annual general liability insurance, according to a filing with state regulators, compared with the $4.9 billion in potential claims estimated by research firm Capstone. (Bloomberg) -- Nearly two months after the deadly Maui wildfires, Hawaiian Electric Co. revealed the limited scope of insurance coverage it holds in the face of potentially billions of dollars in damage claims. [Extracted from the article]

The utility faces $4.9 billion in potential liabilities from the blaze that razed the historic town of Lahaina and killed at least 97 people, according to an estimate from research firm Capstone LLC. (Bloomberg) -- Hawaiian Electric Co. disclosed to state regulators that it has $165 million in annual general liability insurance that could help cover third-party property and personal-injury claims tied to the deadly Maui fire. [Extracted from the article]

Kimura told the House Energy and Commerce Committee's Oversight and Investigations Subcommittee that all of Hawaiian Electric's power lines in West Maui had been de-energized for more than six hours by the time the Afternoon Fire began. (Bloomberg) -- Hawaiian Electric Co.'s chief executive officer told Congress Thursday that the deadly Lahaina wildfire wasn't the company's fault, adding that it may take 12 to 18 months to understand the cause. [Extracted from the article]

PG&E said that it may have to cut power to about 4,200 homes and businesses located in the fire watch area in order to reduce the risk of their power lines sparking a blaze. (Bloomberg) -- California's largest utility is warning that it may have to cut power supplies to reduce the risk of more wildfires in the state, just as smoke drifting down from blazes burning in Northern California and Oregon will bring unhealthy air to the San Francisco Bay Area this week. [Extracted from the article]

Ito will serve as chief financial officer and treasurer of the utility, called Hawaiian Electric Company Inc., until December 31, 2024, when he will return to his original role as CFO of Hawaiian Electric Industries, the company said. (Bloomberg) -- Hawaiian Electric Industries Inc. said it has named Scott DeGhetto of investment banking firm Moelis & Company as chief financial officer of the company as part of a leadership shakeup. [Extracted from the article]

With more customers adopting electric vehicles, utilities will be forced to manage their charging patterns to keep grids stable, which in turn will convince them of tapping into the value of other home energy resources, Shah said. (Bloomberg) -- Consumer-owned, small-scale energy devices, such as home car chargers, could be the answer for California and Texas as they struggle to meet demand for power during peak times, a top US energy official said. [Extracted from the article]

To help finance the transaction, Enbridge said separately that it plans to raise C$4 billion ($2.9 billion) in a share sale underwritten by a group of institutions led by RBC Capital Markets and Morgan Stanley. (Bloomberg) -- Canadian pipeline operator Enbridge Inc. agreed to buy three utilities from Dominion Energy Inc. in a $9.4 billion deal to create North America's largest natural gas provider. Morgan Stanley and RBC were Enbridge's financial advisers on the deal while Sullivan & Cromwell LLP and McCarthy Tétrault LLP were its legal advisers. [Extracted from the article]

Enbridge's deal for the East Ohio Gas Co., Questar Gas Co. and Public Service Co. of North Carolina will double the Calgary-based company's gas utility business, Calgary-based Enbridge said in a statement Tuesday. (Bloomberg) -- The Canadian pipeline giant Enbridge Inc. agreed to buy three utilities from Dominion Energy Inc. in a $9.4 billion deal that will create North America's largest natural gas provider. [Extracted from the article]

(Bloomberg) -- California regulators approved a proposal to inject more natural gas at Sempra Energy's Aliso Canyon Natural Gas Storage Facility, site of the worst methane leak in US history. The decision is designed to protect against a spike in natural gas prices like the one that took place last winter when some residents saw monthly energy bills hit $1,000 or higher, the California Public Utilities Commission said in a statement. [Extracted from the article]

(Bloomberg) -- Hurricane Idalia weakened slightly to Category 3 as it heads toward landfall on Florida's west coast, where it still threatens to unleash catastrophic storm surge and damaging winds. "While Idalia should weaken after landfall, it is likely to still be a hurricane while moving across southern Georgia, and near the coast of Georgia or southern South Carolina late today", the hurricane center said in an earlier update. [Extracted from the article]

"While Idalia should weaken after landfall, it is likely to still be a hurricane while moving across southern Georgia, and near the coast of Georgia or southern South Carolina late today", the hurricane center said. (Bloomberg) -- Hurricane Idalia strengthened into a Category 4 storm as it heads toward landfall on Florida's west coast, where it threatens to unleash floods and trigger blackouts. [Extracted from the article]

Idalia is forecast to be the first major hurricane to hit Florida since last September. (Bloomberg) -- Hurricane Idalia strengthened into a Category 4 storm as it heads toward landfall Wednesday on Florida's west coast, threatening to unleash floods and trigger blackouts. [Extracted from the article]

"Life-threatening storm surge and hurricane conditions" are expected along portions of the Gulf Coast of Florida Tuesday night and Wednesday, Robbie Berg, a senior hurricane specialist at the center, wrote in his forecast. (Bloomberg) -- Hurricane Idalia is building strength in the Gulf of Mexico as it heads toward landfall Wednesday on Florida's west coast, where it threatens to unleash floods and trigger blackouts. [Extracted from the article]

(Bloomberg) -- Hurricane Idalia is building strength in the Gulf of Mexico as it heads toward landfall Wednesday on Florida's west coast, where it threatens to unleash floods and trigger blackouts. "Rapid intensification is expected before landfall, and Idalia is forecast to be a major hurricane when it reaches the Gulf coast of Florida Wednesday morning.". [Extracted from the article]

(Bloomberg) -- Hurricane Idalia is building strength in the Gulf of Mexico as it heads toward landfall Wednesday on Florida's west coast, where it threatens to unleash floods and trigger blackouts. "Life-threatening storm surge and hurricane conditions" are expected along portions of the Gulf Coast of Florida Tuesday night and Wednesday, Robbie Berg, a senior hurricane specialist at the center, wrote in his forecast. [Extracted from the article]

"Life-threatening storm surge and hurricane conditions" are expected along portions of the Gulf Coast of Florida Tuesday night and Wednesday, Robbie Berg, a senior hurricane specialist at the center, wrote in his forecast. (Bloomberg) -- Hurricane Idalia is building strength in the Gulf of Mexico as it heads toward landfall Wednesday on Florida's west coast, where it threatens to unleash floods and trigger blackouts. [Extracted from the article]

(Bloomberg) -- Hurricane Idalia is gathering force as it sweeps past Cuba in advance of a landfall on Florida's west coast, where it could drive a deadly wall of water into the shoreline, snap trees and cause widespread power outages. If it reaches forecast Category 3 strength - with maximum sustained winds of at least 111 miles per hour - Idalia would be the first major hurricane to hit Florida since last September. [Extracted from the article]

Idalia dumped up to four inches of rain and lashed the western part of Cuba with 62-mph winds Monday night, Cuba's Civil Defense reported. (Bloomberg) -- Hurricane Idalia is gathering force as it sweeps past Cuba in advance of a landfall on Florida's west coast, where it could drive a deadly wall of water into the shoreline, snap trees and cause widespread power outages. [Extracted from the article]

If it reaches forecast Category 3 strength - with maximum sustained winds of at least 111 miles per hour - Idalia would be the first major hurricane to hit Florida since last September. (Bloomberg) -- Hurricane Idalia is set to intensify into an "extremely dangerous" major storm, bringing life-threatening winds and floods, as it barrels north toward Florida's Gulf Coast. [Extracted from the article]

(Bloomberg) -- Florida is bracing for a major hurricane that is poised to bring life-threatening winds and storm surge to the Tampa Bay area as Tropical Storm Idalia neared hurricane strength Monday in the Gulf of Mexico. Idalia's sustained winds were measured at 70 miles (113 kilometers) per hour, just below hurricane force, the US National Hurricane Center said in an advisory at 2 a.m. New York time. [Extracted from the article]

(Bloomberg) -- Florida is bracing for a major hurricane that is poised to bring life-threatening winds and storm surge to the Tampa Bay area as Tropical Storm Idalia neared hurricane strength Monday in the Gulf of Mexico. In addition to its winds, Idalia could push as much as 12 feet (3.7 meters) of water onto the shore from the Aucilla River to Chassahowitzka, Florida, and as much as 7 feet into Tampa Bay, as well as drench a large area as far north as the Carolinas with up to 8 inches of rain. [Extracted from the article]

(Bloomberg) -- PG&E Corp. said it will likely have to cut power in some parts of Northern California on Wednesday due to a forecast of high winds and dry conditions. The California utility giant's weather forecasters are tracking a system that is expected to bring wind gusts in high terrain around Lake Shasta and spread south through the Sacramento Valley, according to a posting on the utility's website. [Extracted from the article]

Hawaiian Electric said the Maui County Fire Department had responded to a morning fire apparently sparked by its power lines and declared by 9 a.m. that the fire was "100% contained." (Bloomberg) -- Hawaiian Electric Industries Inc. soared after the utility pushed back against a lawsuit filed by Maui County that accused the company of starting the deadly Lahaina fire, suggesting that county's fire department may be responsible for losing control of the blaze. [Extracted from the article]

(Bloomberg) -- Hawaiian Electric Industries Inc. slumped to the lowest since 1984 after the company said it will draw down on credit lines and suspend its dividend to preserve cash in the wake of deadly wildfires on Maui. Hawaiian Electric Industries and its Hawaiian Electric utility unit also drew $170 million and $200 million, respectively, on their revolving credit lines. [Extracted from the article]

(Bloomberg) -- Hawaiian Electric Industries Inc. slumped after the company said it will draw down on credit lines and suspend its dividend to preserve cash in the wake of deadly wildfires on Maui. In addition, Hawaiian Electric Industries and its Hawaiian Electric utility unit also drew $170 million and $200 million, respectively, on their revolving credit lines. [Extracted from the article]

Lawyers for victims say their investigators along with federal authorities will be able to inspect the physical evidence collected by Hawaiian Electric on Sunday through Tuesday. (Bloomberg) -- Investigators in Maui are increasingly zooming in on one particular area outside of Lahaina as a possible source of the ignition point for the deadly fire that burned the seaside town to ash and killed more than 100 people in one of the worst US natural disasters in decades. [Extracted from the article]

On Wednesday, Hawaiian Electric Industries and its Hawaiian Electric Co. unit drew $170 million and $200 million, respectively, on revolving credit lines. (Bloomberg) -- Hawaiian Electric Industries Inc. drew down on revolving credit lines and said it would suspend its quarterly dividend as it seeks to shore up cash following the deadly wildfires in Maui. [Extracted from the article]

The lawsuit alleges that Hawaiian Electric acted negligently for failing to cut power despite advance weather forecasts of critical fire conditions with high winds. (Bloomberg) -- The County of Maui sued Hawaiian Electric Industries Inc. for damages caused to the county's property by fires including the blaze that destroyed the historic town of Lahaina. [Extracted from the article]

(Bloomberg) -- Hawaiian Electric Industries Inc. said it is seeking advice from various experts, including Guggenheim Securities as it takes steps to determine the fallout from the deadly wildfires in Maui. The company has been cut to junk by all three major credit ratings firms, with Fitch Ratings estimating that potential liabilities may top $3.8 billion, "representing an existential threat to the company.". [Extracted from the article]

(Bloomberg) -- Hawaiian Electric Industries, which supplies roughly 95% of the state's residents with power, traces its roots back to 1891, just a decade after King Kalakaua met Thomas Edison to see the incandescent light bulb. Meanwhile, traditional utility investors will likely stay away from the company's stock, said Andy Bischof, a utility analyst for Morningstar. [Extracted from the article]

(Bloomberg) -- Hawaiian Electric Industries, which supplies roughly 95% of the state's residents with power, traces its roots back to 1891, just a decade after King Kalakaua met Thomas Edison to see the incandescent light bulb. Meanwhile, traditional utility investors will likely stay away from the company's stock, said Andy Bischof, a utility analyst for Morningstar. [Extracted from the article]

Hawaiian Electric, which operates the utility that serves Maui, has come under criticism for not turning off power despite weather forecasters' warnings that dry, gusty winds could create critical fire conditions. (Bloomberg) -- Hawaiian Electric Industries Inc. plunged by a record on concern that its power lines may be linked to the deadly Maui wildfires. [Extracted from the article]

Meanwhile, traditional utility investors will likely stay away from the company's stock, said Andy Bischof, a utility analyst for Morningstar. (Bloomberg) -- Hawaiian Electric Industries Co., which supplies roughly 95% of the state's residents with power, traces its roots back to 1891, just a decade after King Kalakaua met Thomas Edison to see the incandescent light bulb. [Extracted from the article]

(Bloomberg) -- Hawaiian Electric Industries Inc. plunged on concern that its power lines may be linked to the deadly Maui wildfires. Plaintiffs attorneys are homing in on the utility's equipment as a possible source of ignition and plan to file lawsuits this week. [Extracted from the article]

(Bloomberg) -- While the cause of the deadly Maui fires remains under investigation, lawyers are sending experts to the island to look into utility power lines as being a possible source of ignition. Witness Accounts Attorney Gerald Singleton said his group, Singleton Schreiber, was flying investigators to Maui this weekend to look into witness accounts of falling power lines and then fires starting, although an actual cause has yet to be determined. [Extracted from the article]

(Bloomberg) -- While the cause of the deadly Maui fires remains under investigation, lawyers are sending experts to the island to look into utility power lines as being a possible source of ignition. Witness Accounts Attorney Gerald Singleton said his group, Singleton Schreiber, was flying investigators to Maui this weekend to look into witness accounts of falling power lines and then fires starting, although an actual cause has yet to be determined. [Extracted from the article]

(Bloomberg) -- Officials raised the death toll from devastating wildfires on the Hawaii island of Maui to 80 as rescue and clean-up crews continued to dig through the rubble of the historic town of Lahaina. Read more: 13 Photos Show the Destructive Force of Wildfires in Maui The old Lahaina, including its Front Street tourist destination once packed with waterfront restaurants and shops, has been destroyed, Green said. [Extracted from the article]