The more we look back on the shenanigans of the now-thankfully-departed Biden administration, the more it seems like the Energizer Bunny on crack: It just keeps getting dumber, and dumber, and dumber.
Case in point: In the name of “green energy,” the Biden administration shoveled $3 billion in taxpayer money as a “loan” into a solar panel company called Sunnova Energy. Now that company is going bankrupt – and that’s not even the worst part.
Sunnova Energy said on Monday that its current finances are “not sufficient to meet obligations and fund operations for a period of at least one year from the date we issue our consolidated financial statements without implementing additional measures.”
“Therefore, substantial doubt exists regarding our ability to continue as a going concern for a period of at least one year from the date we issue our consolidated financial statements,” the company said in a statement on Monday.
Sunnova’s stock plunged over 70 percent following its announcement, according to Bloomberg.
The news comes a year and a half after the Biden administration’s Department of Energy Loan Programs Office closed on a $3 billion loan with the solar company—the largest federal loan to a solar company in history.
That’s bad. But as it happens, some of Sunnova’s business practices border on – no, scratch that – they are fraud. As in scamming elderly, confused people out of a lot of money for solar installations that they won’t live long enough to break even on.
Sunnova’s business practices have come under scrutiny as well. The company has been accused of scamming dementia patients on their deathbeds into signing five-figure, multi-decade solar panel leases, according to interviews and state consumer complaint records obtained by the Free Beacon in November 2023.
The Free Beacon reviewed at least 50 consumer complaints filed against Sunnova in Texas since 2022. Multiple complaints alleged that Sunnova sales representatives persuaded elderly dementia patients, some on their deathbeds, to enter lengthy solar panel leases.
Two Texas residents told the Free Beacon that their fathers were persuaded to sign such leases while senile and on hospice.
All you pro windmill people out there?
You see this ??