Solar Troubles

Last week we mentioned solar bailouts and blamed, in part, bad business models. Apparently, the numbers are bad too. Employees are now coming out saying that Sunrun's numbers were juiced just prior to its IPO. This doesn't bode well for the Sequoia Capital-backed solar company which is now under SEC investigation. The company allegedly failed to report cancellations which had the effect of jacking up the number of customers and the megawatts booked - two critical metrics for revenue measurement. Meanwhile, SolarWorld USA announced massive layoffs after an affiliate previously filed for administration in Germany.