Sunlight Financial has filed for Chapter 11 bankruptcy and has sold its residential loan business to a consortium including Greenbacker Capital Management, Sunstone Credit, IGS Ventures, and Cross River Bank. The consortium plans to inject significant new capital into Sunlight Financial and continue originating residential loans. The company’s financial issues were discovered in August, with a 10-to-1 reverse stock split to maintain a share price above $1 and ensure continued listing on the New York Stock Exchange. The failure to respond to rising interest rates negatively impacted Sunlight’s core business of developing residential solar loans and selling them to investors, leading to a decline in revenue and income.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
