National Residential Solar Installation Company Posigen dismissed almost all its employees yesterday. Posigen CEO Peter Shaper sent a memo addressed to all employees who attribute the dismissal to lack of financing the One Big Beautiful Bill Act (HR1). The exact number of tasks terminated has not yet been confirmed.
“Hundreds of employees, including myself, were fired with little warning,” said a former Posigen -employee who spoke due to anonymity. “Contractors and partners were left unpaid. Families who trusted our mission of ‘Solar for All’ remained in the dark.”
According to a notification of the termination of the employee obtained by Solar Power WorldPosigen is planning to remain open in his current state. However, if it cannot acquire extra financing, “it plans to close all operations.”
Posigen missed an interest payment on his credit facility in August, according to the document. The notification states that the company had recently experienced rapid growth and “certain external opportunities” that worsened the activities. According to the document, the lack of financing had to spend internal capital on contracted solar projects.
“For weeks after that, employees were told to continue to reassure the partners that payments would come, even when the company knew the money had disappeared,” said the former employee. “That decision not only in danger the relationships – the destroyed trust and credibility that had lasted for years to build.”
Posigen specialized in bringing solar projects for disadvantaged communities and customers with a low to middle income.
In 2023, International Investment Firm Brookfield Asset Management Invested $ 250 Million Into Posigen, Followed by Two Addital Rounds Of Finance, Bringing Its Total Investment In The Company to $ 600 Million in 2025. Brookfield Renewable Partners Acquired National Residential Installer Standard Solar and Utility-Scale Developer Scout Clean Energy in 2022. Terraform Power, A Brookfield Asset Management Affiliate, taken over Sun Tribe Solar, a solar developer at Nutsbedrijf in 2025. Brookfield also invested in Rec Solar.
“This collapse is a lesson for the entire solar industry,” said the former Posigen employee. “Yes, the leadership of Posigen has failed in transparency and accountability. But it is also true that federal policy pressing renewable energy companies into the breaking point. Mission-driven organizations such as Posigen can not only survive about slogans when political counterparts and financing realities are ignored.”
SPW has contacted Posigen Solar and wait for comment.
An internal memo addressed to Posigen employees who have been taken over by Solar Power World.
