The US rooftop solar industry had room to grow by more than 3,200%, he said, leaving companies like his primed to reap the rewards.

The company, which primarily sells rooftop systems, fired workers to cut costs and had to raise $200 million to ease a cash crunch.

75% plunge in shares over the past year, Faricy’s predecessor returned as executive chair this week.

The company in October said it had overstated the value of components of microinverters — small devices that help solar systems produce more energy — and needed to restate financial statements for 2022 and the first and second quarters of 2023.


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