US News & World Report named SunPower the very best rooftop solar company in America in 2024. Forbes named SunPower the very best solar panel installer in the country. What an amazing company! Maybe we should all invest in it! Oh, wait. We can’t. SunPower lost its taxpayer subsidies from the state of California, and the company immediately collapsed in bankruptcy.
Every. Single. Time.
This is what happens every single time one of these so-called “green” energy companies loses taxpayer subsidies. The whole house of cards collapses. The reason for this is simple. These are not viable businesses. Their products are too expensive without the taxpayer money to prop them up.
You can’t turn on the TV or watch a YouTube video in many states without being bombarded with ads for “free” rooftop solar panels. It’s obviously not free. They’re paid for by taxpayer money. As soon as that taxpayer gravy train dries up, the company folds like Kamala Harris after you get a couple of drinks in her.
SunPower, which was supposedly the very best solar company ever, is now selling off its assets to other solar companies as part of its bankruptcy restructuring. California had been subsidizing SunPower to push rooftop solar installation by allowing homeowners to sell their excess power back to the state’s failing electric grid.
The legislature took that incentive away from SunPower and screwed over every homeowner who was dumb enough to accept the “free” solar panels. That was the end of the gravy train.
We’d love to think that governments will learn a lesson from the spectacular collapse of SunPower, but they won’t. Too many relatives of politicians sit on the boards of these boondoggle companies collecting fat paychecks.
