Louisiana solar panel installer PosiGen is laying off 166 local employees and ceasing most of its operations nationwide after facing a cash crunch amid rollbacks in federal renewable energy tax credits.

The company, which operates facilities in St. Charles and Jefferson parishes, notified state and local officials of the layoffs on Monday, saying it defaulted on a credit line and couldn't raise the long-term capital necessary to maintain its existing headcount.

PosiGen said an additional 92 employees in Louisiana could be laid off in the next two weeks if it can't find additional funding or a way to sell what remains of its business.

Founded in 2011, PosiGen specializes in marketing solar energy systems to low-income households and rode a wave of state and federal solar credits that a

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