Sunnova Energy Goes Dark: A Cautionary Tale of Solar Hubris and Government Handouts

Ah, another day, another green energy company biting the dust. Sunnova Energy, the once-mighty solar titan, has officially joined the ranks of Solyndra and Theranos in the Hall of Failed Disruptions. Founder John Berger, a man who clearly learned nothing from his time at Enron (because, you know, history never repeats itself), boldly declared that solar would "rip apart the energy business." Turns out, the only thing getting ripped apart was Sunnova’s balance sheet.

Let’s rewind to the glory days—2019, when Berger was strutting around Houston energy conferences like he owned the place, vaping his way through PowerPoints about "liberating" consumers from the tyranny of… paying for electricity the normal way. Fast forward to 2024, and Sunnova’s stock is worth less than a used Tesla battery. The company’s downfall was a masterclass in Silicon Valley-style hubris: overpromise, underdeliver, blame the government, then file for bankruptcy.

Of course, Berger’s not taking full responsibility. In a recent interview, he lamented that Biden’s Inflation Reduction Act put a "big target" on the solar industry. Ah yes, the classic "I would’ve gotten away with it if it weren’t for those meddling subsidies" defense. Never mind that Sunnova’s business model relied on leasing solar panels to people who, in some cases, didn’t even realize they’d signed a 20-year contract. Or that their third-party installers were about as reliable as a Texas power grid in a snowstorm.

And let’s not forget the pièce de résistance: a $3 billion federal loan guarantee that Sunnova somehow secured despite a growing pile of consumer complaints. Republicans, ever the fiscal hawks when it’s not their guy spending the money, had a field day comparing it to Solyndra. Berger, ever the statesman, accused them of turning Sunnova into a "political football." Sorry, John, but when your company’s business practices are being compared to a Ponzi scheme, you don’t get to play the victim.

Now, as Sunnova’s assets get sold off for pennies on the dollar, Berger is already plotting his next venture—presumably another solar company, because nothing says "I’ve learned my lesson" like doubling down on failure. Meanwhile, customers like Al Morgan in Nevada are left holding the bag, paying for solar panels that didn’t work for over a year. "They are thieves and liars," Morgan said. Strong words, Al, but hey, at least you got a front-row seat to the greatest green energy grift of the decade.

So what’s the takeaway here? If you’re a startup founder with a dream of disrupting an industry, just remember: it’s not about the product, it’s about the vibes. And if the vibes fail, there’s always bankruptcy court. See you there, Sunnova. Bring your own vape.

Chad Evans is a freelance tech bro and part-time energy pundit. His latest startup, MoonPanel, promises to harness lunar energy (pending FDA approval).