And Another One Bites The Dust
Yet another solar company has filed for bankruptcy here in Boston. To us this is both great news but also a bit of a shock. How in one of the best solar markets in the entire country is this even possible?Ted "The Wolf" Strzelecki
Massachusetts is no doubt one of the top states for solar due to it's incredible incentives. MA has SRECs, up to $1,000 in a state ITC, and the federal ITC of 30%. On top of this there are over 30 municipal electric utilities that offer even more rebates. If properly priced by the seller / installation company the homeowner will have a payback period of less than 5 years. Considering their electric bill is usually negated or significantly reduced this is a win / win.
So how with this much potential and market-share available could a solar company go under? Well it is quite common it seems. The issue being the industry is so hot that it attracts everyone. The good, the bad, and the never should have gotten in the industry. Although this is an opportunity we hope homeowners learn from this. You should be doing some due diligence on the company you purchased your solar from. We can't speak for the industry or for other companies but, we at Solar Wolf Energy are here for the long haul. We are financially strong and in the black every quarter. You hear us on the radio, we advertise a fair amount and yet we still have a healthy balance sheet. We make sure we can deliver on our warranty to our customers.
That is part of our "Under promise and over deliver!"
Get a FREE Quote from Solar Wolf Energy
SHARE THIS BLOG POST