US Solar Expansion
SUNation Energy and Suniva Merge to Lead U.S. Solar Manufacturing and Services
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SUNation Energy and Suniva have signed a definitive merger agreement, combining the United States' oldest domestic solar cell maker with a leading solar installer. Benzinga reports the deal is expected to close in the second half of 2026, pending stockholder approval. The combined company aims to build the first fully American solar platform — from manufacturing cells in Georgia to putting panels on rooftops in New York and Florida.
The deal is structured as an all-stock reverse merger. Suniva shareholders will hold roughly 75% of the combined public company, according to Yahoo Finance. The new entity will trade on Nasdaq, backed by SUNation's existing listing through its parent, Pineapple Energy.
Suniva's Long Road From Bankruptcy to Merger
Suniva was once the largest U.S. solar cell maker. Then it filed for Chapter 11 bankruptcy in April 2017, crushed by cheap imports from China. The company blamed what it called "unfair trade practices" from overseas competitors. Its collapse helped trigger President Trump's Section 201 tariffs on imported solar in 2018.
The 2022 Inflation Reduction Act (IRA) changed everything. The law created a 45X production tax credit worth roughly $0.04 per watt for U.S.-made solar cells. That made domestic manufacturing profitable again. By October 2023, Suniva restarted its Norcross, Georgia factory, backed by investment firm Lion Point Capital. By early 2025, the plant had reached 1 gigawatt of annual production capacity.
Why the IRA Makes This Deal Worth Billions
Solar developers get a 10% bonus tax credit when they use enough U.S.-made parts. The Treasury Department requires that at least 40% of a project's components be domestic-made to qualify. Suniva's cells are the hardest part to make in America — so they are the "key" that unlocks this bonus for developers. At full 1 GW capacity, the 45X credits alone could generate roughly $50 million per year for the combined company.
The merger also solves a supply chain headache that rivals face. Chinese-made solar parts are often held up at U.S. ports under the Uyghur Forced Labor Prevention Act. Because Suniva makes its cells in Georgia, the combined company avoids those delays entirely. That gives it a clear edge for government and municipal contracts that require American-made goods.
What Leaders Say About the 'Holy Grail' of Solar
SUNation founder Scott Maskin called the deal "the Holy Grail of solar." He said the company is moving from "being a customer of global supply chains to being the masters of our own destiny with American-made silicon." Suniva CEO Cristiano Amoruso said the merger lets the company "bring our high-efficiency technology directly to the American consumer through a proven installation leader."
The Solar Energy Industries Association praised the move. CEO Abigail Ross Hopper called it a "significant step toward a self-sustaining domestic supply chain." The deal is also expected to support over 1,000 jobs across Suniva's Georgia plant and SUNation's operations in New York and Florida, according to Yahoo Finance.
Skeptics Warn the Deal Depends on Policy Staying Intact
Not everyone is cheering. Some trade economists note that U.S.-made solar cells cost 20–30% more than cells made in Southeast Asia. That gap means the combined company's survival depends almost entirely on IRA tax credits and tariffs staying in place. Free-trade critics, including analysts at the Cato Institute, view the entity as "subsidy-dependent" and not viable without heavy government support.
Financial analysts at Roth Capital Partners framed the deal differently. They called it a "reverse-quality merger" — a way for Pineapple Energy, SUNation's struggling Nasdaq-listed parent, to absorb a high-value manufacturing asset and avoid delisting. The merger is a high-stakes bet: if the IRA holds, this company could become what one analyst called "the Intel of solar." If credits are cut, the math falls apart fast.
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