Residential Solar Confronts a Critical Year.

Residential solar companies in the United States are facing challenges due to high interest rates and less favorable state incentives. Some companies, such as Sunlight Financial and SunPower, have declared bankruptcy or are at risk of defaulting on debt. The reduction in the amount that rooftop solar systems can receive for selling excess electricity back to the grid in California has also impacted the industry. Analysts predict a contraction in residential solar installations in 2024, and solar stocks have already seen significant declines. The industry may need to evolve to a market similar to Germany, where costs are lower and installers have existing local customer bases. [Extracted from the article]