Solar installer Posigen has confirmed that it will close all of its Connecticut operations and lay off its remaining employees by October 4.
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Solar installer PosiGen has confirmed that it will close all of its Connecticut operations and lay off its remaining employees by October 4.
The company first announced in August that it was shutting down the bulk of its U.S. operations, after Congress removed most federal tax credits for solar installations with the backing of the Trump administration.
At that time, PosiGen said it had laid off 78 employees at its facilities located in Shelton, Danbury and Wethersfield, but it kept the facilities open in the short term as it sought financing to remain in business.
Now, the company has written to state and municipal officials to confirm that, although it obtained some additional financing from its lender, the funds will only support operations for a temporary period.
“The Company no longer believes that it will be able to effectuate a sale of its remaining business in a manner that will provide for continued operations,” the letter goes on. “As a result, the Company now expects that it will terminate all of the remaining CT Employees during the period between September 21, 2025, and October 4, 2025.”
PosiGen had retained eight employees to staff the Connecticut locations temporarily.
The Inflation Reduction Act of 2022, passed under former President Joe Biden, extended tax breaks for homeowners and businesses installing solar and other renewable energy sources through 2032. But the Big Beautiful Bill passed in the most recent session reverses that.
PosiGen says that the cancellation of a 30% credit for homeowners, which will now expire at the end of 2025, has made it impossible for the company to secure long-term financing to continue its operations.
