Risk Factors Update Summary
- The company's solar systems now represent over 45% of the customer base, up from 40%.
- Increased stringency in U.S. and foreign laws and regulations related to data privacy and security.
- Changes to California's net metering policy may limit financial benefits for customers.
- Evolving data protection laws require significant resources and changes to services and technologies.
- The Biden Administration announced a four-year extension of Section 201 Module Tariffs.
- Potential impairment of $1.2 billion in goodwill due to sustained stock price decline.
- The California Public Utilities Commission rejected a solar-specific fixed charge, impacting solar customers.
- New California solar customers are transitioning to a Net Billing Tariff, affecting export rates.
- The CPUC deferred the decision on legacy NEM 1.0 or 2.0 customers to a new docket.
- The CPUC will approve guidelines for income-graduated fixed charges by July 2024.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1469367&owner=exclude
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