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Sunnova falls after House Committee questions $3B DOE loan

House Energy Committee Chair Cathy McMorris Rodgers sent a letter, dated December 7, to Jigar Shah, Director of the Department of Energy’s Loan Programs Office, which stated, in part, “We write to you regarding disturbing reports about Sunnova Energy Corporation, a residential solar company, to which the Department of Energy’s Loan Programs Office recently awarded a $3 billion partial loan guarantee…We are alarmed about recent, credible reports that Sunnova has racked up numerous consumer complaints, including those alleging troubling sales practices, such as Sunnova pressing elderly homeowners in poor health to sign long-term contracts costing tens of thousands of dollars.” Shares of Sunnova Energy are down 12% to $10.95 in midday trading.

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