Ouuuuuuch

[regor]

Another Solar Company Goes Bust

Titan Solar closes shop, underscoring the struggles of an embattled industry

time.com

Titan is not the only solar installer to close up shop lately. The company, which could not be reached for comment for this story—its website has shut down—is one of 16 major solar outfits that have filed for bankruptcy in 2023 and 2024, according to Solar Insure, which offers warranties and monitoring for homeowners who have solar. They include Pink Energy and Vision Solar, which like other operators in the industry faced regulatory action and numerous consumer complaints. Customers are left with solar panels on their homes that they may or may not want. Some are working with lenders to find another company to take over the maintenance of their panels; others are just trying to get out of the loans.

The broader industry faces significant upheaval. In December, SunPower said there was “substantial doubt” about its ability to continue to operate. Sunlight Financial, which provided financing for residential solar, filed for bankruptcy last October. SunRun, one of the biggest residential installers in the country, has seen its share price plummet 87% from its 2020 peak; the share price of Sunnova, another national installer, has fallen 88%.

 

[monkeyswrench]

On one hand, it's funny, the green energy deal is choking.

On the other hand, as the blue collar in me sees it, there are a bunch of people out of jobs. That's no good for anyone.

 

[Kenboat]

With how screwed up our energy grid has become I am looking at a non grid tied system. Another example of a federal backed program that is not ready to support itself.

 

[Romans9]

I wonder which politicians got kick backs and pay offs from this one?

 

[4Waters]

But now all those Keystone Pipeline guys are out of work again

 

[riverroyal]

But I struggled to find a company to add panels to my new house
Then when I did, they are booked out 2 months.
These bankrupt companies could have been acting like they were during their peak. Maybe it's bad management and greed

 

[DRYHEAT]

I am waiting till Costco sells solar panels and systems.

 

[27Daytona]

This sounds too familiar. This happened numerous times during the Obama Administration after these solar companies received 10’s of Millions in grant money they somehow went bankrupt just a few years later. Coincidence???

 

[Bajap1]

Another Solar Company Goes Bust

Titan Solar closes shop, underscoring the struggles of an embattled industry

time.com

Titan is not the only solar installer to close up shop lately. The company, which could not be reached for comment for this story—its website has shut down—is one of 16 major solar outfits that have filed for bankruptcy in 2023 and 2024, according to Solar Insure, which offers warranties and monitoring for homeowners who have solar. They include Pink Energy and Vision Solar, which like other operators in the industry faced regulatory action and numerous consumer complaints. Customers are left with solar panels on their homes that they may or may not want. Some are working with lenders to find another company to take over the maintenance of their panels; others are just trying to get out of the loans.

The broader industry faces significant upheaval. In December, SunPower said there was “substantial doubt” about its ability to continue to operate. Sunlight Financial, which provided financing for residential solar, filed for bankruptcy last October. SunRun, one of the biggest residential installers in the country, has seen its share price plummet 87% from its 2020 peak; the share price of Sunnova, another national installer, has fallen 88%.

When CA changed to net metering 3.0 it destroyed solar sales, the reason they were so busy before April 2023 is everyone was racing to get grandfathered into 2.0, because the same solar system now cost substantially more because of the battery packs you need to have.

 

[4Waters]

When CA changed to net metering 3.0 it destroyed solar sales, the reason they were so busy before April 2023 is everyone was racing to get grandfathered into 2.0, because the same solar system now cost substantially more because of the battery packs you need to have.

Yup, another California fuck up

 

[Snorre]

is also a company construct with which you earn money, scour the market, collect subsidies, if the guarantee or goodwill work exceeds a certain level, file for bankruptcy

 

[Ziggy]

I'd assume with California wanting to be going all electric & knowing they don't have capacity to generate or store it is why they require batteries. It forces the peasant consumers to be their storage facilities.
Had a guy at my door recently trying to sell me on it, with a Tesla powerwall. And as I understand it, you have to stay tied to the grid. Again, I assume this is so it serves as storage for the grid & not just your home with a credit of pennies per KW on your billing.

When CA changed to net metering 3.0 it destroyed solar sales, the reason they were so busy before April 2023 is everyone was racing to get grandfathered into 2.0, because the same solar system now cost substantially more because of the battery packs you need to have.

 

[riverroyal]

Zig, to my knowledge the tesla wall is only storage for you. The panels charge the batteries, then you use batteries after sun goes down.
The day light power you generate is used by you but any excess sdg&e keeps. They no longer send it back at night.

We are doing it in a few weeks. But....for us the reason is more back up power. When they cut power, which they do, or there is a actual outage then the house switches to battery and will last as long as needed hopefully. You can monitor usage to not drain them in 12 hours

 

[BasilHayden]

Zig, to my knowledge the tesla wall is only storage for you. The panels charge the batteries, then you use batteries after sun goes down.
The day light power you generate is used by you but any excess sdg&e keeps. They no longer send it back at night.

We are doing it in a few weeks. But....for us the reason is more back up power. When they cut power, which they do, or there is a actual outage then the house switches to battery and will last as long as needed hopefully. You can monitor usage to not drain them in 12 hours

Partially correct, under NEM3 which you are now the utility has the ability under rule 21 to tap your power for the grid if needed, they can also turn off your PV if deemed necessary remotely. To my knowledge they have not been using these powers, but they have them, so Zig is technically right. Now if your system is built and sized correct, which we know it wasnt originally, you could disconnect from the grid in a time of uncertainty and ride it out on your own, but its truly not how 90+% of the systems are designed.

On a side note, Sorry I couldnt get you taken care of in time. Good luck with the expanded system.

 

[riverroyal]

shit is confusing....lol!

 

[CLdrinker]

so who is honoring all of these warranties now haha called that shit a long time ago.

 

[DRYHEAT]

so who is honoring all of these warranties now haha called that shit a long time ago.

With our luck, the federal government will bail them out, just like the student loans for basket weaving and non-binary studies.

 

[Romans9]

With our luck, the federal government will bail them out, just like the student loans for basket weaving and non-binary studies.

Only if you can prove that your really like taking a donkey cock up your ass while watching a transfag lick the armpits of a south American sumo wrestler in pink polkadot leggings and promise to vote democrat for the rest of your natural life and beyond….

 

[azsunfun]

With all the canals not covered to slow evaporation, and rust out components faster, and all the federal piggy bank money how does this happen? And I still don't have a cable connection in my area.

 

[Orange Juice]

The only reason they are shutting their doors is because they ripped off a bunch of consumers, and like any business that rips off enough customers, they file bankruptcy, and walk

 

[LuauLounge]

My math may be a little off, but it’s in the ballpark.
So, you pay $XX,XXX to install solar. The govt gives you back $X,XXX. Then, the utility gives you back $XXX because you aren’t using their power until they need it. Then they will have the ability to throttle back your usage to a refer, PC and TV. You be sweating like a mofo, but your electricity bill is only $XX a month.

Someone asked

 

[regor]

The only reason they are shutting their doors is because they ripped off a bunch of consumers, and like any business that rips off enough customers, they file bankruptcy, and walk

I know, selling solar pipe dreams is ripping people off.

 

[2Driver]

Sounds more like a churn and burn company and their shit practices caught up with them.

100,000 installs and customers are left in the cold with years of monthly payments on solar that may or may not work, leaking roofs and no warranty.

Some people will pay $10 to save $8. Its easier to just make more money than try to save a few thousand on electric bills..

 

[BabyRay]

Sounds more like a churn and burn company and their shit practices caught up with them.

100,000 installs and customers are left in the cold with years of monthly payments on solar that may or may not work, leaking roofs and no warranty.

Some people will pay $10 to save $8. Its easier to just make more money than try to save a few thousand on electric bills..

I have a couple of neighbors who installed solar systems. We live in western Washington, so there’s no way it pencils out. The only thing that makes sense is maybe they’re preparing for the zombie apocalypse, regardless of cost.

 

[4Waters]

I have a couple of neighbors who installed solar systems. We live in western Washington, so there’s no way it pencils out. The only thing that makes sense is maybe they’re preparing for the zombie apocalypse, regardless of cost.

That makes no difference, I was told by a member clouds, snow or anything covering the panels makes no difference in output. Basically they are producing at 100% all night as well