Did a solar company close its doors?

Read More: Another Solar Company Goes Bust Titan was the largest solar installer to close its doors when it shut down June 13, according to research firm Wood Mackenzie, but customers like Palmer are not alone in having nonworking panels on their homes and nowhere to turn.

Why did solar contractors go out of business in 2023?

In 2023, the solar industry witnessed a significant number of contractors going out of business, a trend fueled by a confluence of economic and policy-driven factors. : The Federal Reserve raised interest rates to combat inflation, inadvertently affecting the solar sector.

What happens if a solar company shuts down?

Customers amid warranty or service agreements may find themselves without support. The reduction in active contractors could lead to less competition, potentially impacting pricing and service quality in the short term. These closures could temporarily slow down the rate of new solar installations.

Did Titan solar go out of business?

Two years later, the panels have never been switched on and the company that installed them—Titan Solar—has abruptly gone out of business, leaving Palmer with a shiny but useless array on her roof.

What happens if a solar company goes out of business?

Bankruptcy or legal action (which might result from any of the factors mentioned above) can also lead to the demise of a solar company. Experts say it's important to choose a good solar installer from the get-go. What happens to my solar lease or loan if my solar company goes out of business?

Which solar companies have failed this year?

Dozens of other solar firms have failed this year as well, including Infinity Energy, Solcius, and Kayo Energy. “We pretty much have a $70,000 roof ornament at this point,” says Jasmine Hendrickson, who had a system installed by Pink Energy a week before the company went out of business.