Lincoln company Nelnet to exit residential solar market [Video]

Nelnet, which reported a huge fourth-quarter loss related to its renewable energy division, has announced big changes to its solar energy strategy.

The Lincoln-based company said earlier this month that it will shift its solar engineering, procurement and construction operations to focus exclusively on commercial solar energy projects.

Nelnet said in a news release that it made the decision, “in the face of challenging regulatory and economic conditions within the residential solar market.”

The company said it sees much more “robust growth potential” in the commercial solar market.

“We look forward to strengthening our position in the commercial solar market, driving innovation and contributing to a cleaner, more sustainable future for all,” Jim Kruger, Nelnet chief financial officer, said in a statement. “With a strong foundation in construction and solar experience, we are set to deliver projects that exceed expectations in quality and efficiency with meticulous execution.”

The shift comes …