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September 3, 2024SunPower Went Out of Business. Now What?
SunPower, once a leader in the solar industry, filed for bankruptcy on Monday, August 5th after months of turmoil. While this is unfortunately not uncommon in the world of solar, the shuttering of yet another solar company once again threatens to leave many of its customers hung out to dry. Going solar is a long-term investment, with panels requiring occasional maintenance and servicing, so losing your installer can spell trouble for homeowners. So if you’re a SunPower customer, what do you do now?
What Happens to SunPower Customers Now?
SunPower has filed for Chapter 11 bankruptcy on August 5, 2024, after months of internal turmoil. In a letter written by their executive chairman, it was announced that certain divisions of the company would be sold, meaning that some customers who have leased SunPower systems would begin making payments to those companies moving forward. SunPower is continuing to work on selling the rest of its assets.
While SunPower is still responsible for its leases and warranties, it has communicated to its customers that it would be unable to provide any services to their solar systems. They have stated that they will make an effort to connect customers with other companies for servicing, though the details of this process remain unclear.
Solar Discovery knows how difficult it can be to be caught in a situation where your solar company is nowhere to be found when you need them most. We happily offer a range of services and maintenance regardless of whether or not we did your original installation. Some of our services include solar panel repairs, solar panel removal and reinstallation, inverter troubleshooting, and more. Contact us today to learn more about how we can help you with all your solar needs.
Why Do Solar Companies Go Out of Business?
The solar industry has experienced rapid growth in recent years as the world moves towards clean, sustainable, and affordable energy. While more and more solar companies emerge, the basics of supply and demand teach us that not all are long for this world. Many other factors, such as evolving technologies and ever-changing legislation, affect the solar industry, and in turn a company’s staying power. As a result, there continues to be a revolving door of solar companies coming and going every few years.
Other factors that may cause a solar company to go out of business include stiff industry competition; fly-by-night companies that take advantage of customers shuttering due to poor work quality; poor customer service; and losing business due to cost-cutting moves and using cheap equipment. Learn more about why solar companies frequently go out of business.
Services with Solar Discovery
Solar Discovery prides itself on being one of the most trusted names in the solar industry. Founded in 2016, we have been serving the Southern California region for nearly a decade. We have been around longer than most, and owe it all to the quality of our work and to providing customers with the best possible service. Seriously, don’t ask us, just hear what they have to say.
We know how difficult it can be to lose your solar company, and so we happily offer a range of services and maintenance to those who are looking for a new company to take them in. Some of our many services include solar panel repairs, removal and reinstallation, and inverter troubleshooting. Get in touch with us today to learn more about how we can help you with all your solar needs.
