Trump Administration Revokes Major Loan Guarantee for Sunnova Energy

Published 1 days agoNOVA

Trump Administration Revokes Major Loan Guarantee for Sunnova Energy

In a significant shift in policy, the Trump administration has annulled a $2.92 billion partial loan guarantee that was previously awarded to Sunnova Energy, a prominent residential solar panel installer in the U.S. Reuters reported that the Department of Energy (DOE) has formally 'de-obligated' the guarantee, releasing the federal government from its financial commitment linked to Project Hestia.

Project Hestia, which was announced under President Biden in April 2023, aimed to install nearly 100,000 rooftop solar systems to assist low-income households. It represented the DOE's largest solar financing effort at the time. However, Sunnova's financial struggles became evident earlier this year when the company issued a 'going concern' warning in March 2025, casting serious doubt on its ability to sustain operations over the coming twelve months.

Despite these challenges, Sunnova has been exploring other funding options, such as issuing $371 million in bonds backed by the now-revoked loan guarantee, which aren't part of its current restructuring plans. This cancellation by the Trump administration aligns with a broader reassessment of clean energy financing by the DOE, in favor of policies that prioritize the oil and gas industries.

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