Sunrun exits Nevada, affecting 'hundreds of jobs'

(Reuters) - Solar panel installer Sunrun Inc said it has ceased all operations in Nevada, after the state reduced credits customers receive for selling excess solar power to the grid.

Sunrun, which partners with local installation companies, said on Thursday it expects hundreds of job losses in the state.

Sunrun’s rival SolarCity Corp said on Wednesday that Nevada utilities commission’s decision would affect 550 of its employees in the state.

Sunrun said it would seek to transition its Nevada-based employees to other positions within the company or place them with local organizations.

The company called on the commission to reconsider its decision, saying it would undermine solar investment in the state.

Reporting by Amrutha Gayathri in Bengaluru; Editing by Don Sebastian