According to foreign media reports, PosiGen , a solar panel installer in Louisiana, is facing a shortage of funds due to changes in the federal renewable energy tax credit policy. The company will lay off 166 local employees and stop most of its nationwide operations in the United States.
It is reported that a memo sent by PosiGen CEO Peter Shaper to all employees on August 24 shows that the company is facing severe financial problems and will lay off a large number of employees. Peter Shaper cites the Big Beautiful Act as one of the reasons it is in trouble.
"Hundreds of employees, including me, were laid off with little notice," said the former PosiGen employee. "Contractors and partners were not paid." According to the
report, the company notified state and local officials about the layoffs on August 25, saying it had failed to repay the credit line on time. And unable to raise the long-term capital needed to maintain the current headcount. And PosiGen said another 92 employees in Louisiana could be laid off in the next two weeks if it can't find additional funding or a way to sell the remaining business.
In addition to the local layoffs, the company issued an earlier notice that it would lay off 49 employees in Pennsylvania and 78 in Connecticut . PosiGen also has offices in Massachusetts, Mississippi, Rhode Island and New Jersey, according to information on its website, but it is not clear how employees in those areas have been affected.
"All this is happening in the shadow of the passage of a new federal tax law that will eliminate some federal renewable energy tax credits from the end of 2025, adding uncertainty to the renewable energy industry and making it more difficult for companies to obtain financing." John Truschinger, chief administrative officer of Posigen, wrote in the notice.
For the "Great Beauty Act", the American Solar Energy Industry Association (SEIA) has warned that the bill could endanger nearly 300 solar and energy storage plants in the United States. This reconciliation bill will lead to the disappearance of about 300000 jobs in the solar and energy storage industry , including 86000 jobs in solar manufacturing .
Today, the negative impact of the "Great Beauty Act" on the renewable energy industry in the United States has emerged.
Last month, the New Leaf Energy , a US renewable energy developer, laid off about a fifth of its workforce . In the same month, Social media platforms in the United States also reported that a developer of utility-grade solar energy and energy storage projects in North Carolina, USA, The news that the owner-operator Pine Gate Renewables laid off 15% of its staff.
According to PV-magazine, U.S. residential solar companies are scaling back hiring and preparing for layoffs. However, there are few formal layoff announcements, because some companies choose to do it quietly.
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