Solar company Sunrun Inc. said Thursday it is ceasing all operations in the state of Nevada, after new rules mandating higher solar metering rates. The announcement comes a a day after SolarCity said it would cut more than 550 jobs in Nevada. Sunrun said its move will cause hundreds of job losses. It said the decision to leave is ” the direct result of new rules adopted by Governor Sandoval’s Public Utilities Commission (PUC) as well as actions taken by NV Energy and Nevada politicians.” The PUC introduced new rules on Jan. 1 that reduce the savings solar panel users were enjoying. Sunrun shares were down 5% in early trade.
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