SolarReviews Addresses Solar Industry Concerns and Provides Homeowners Advice

The Federal Reserve began a string of 11 straight increases in the federal funds rate, from a low of 0%-0.25% to a high of 5.25%-5.5% in July 2023. Interest rate hikes make solar loan offerings less attractive to homeowners, leaving installers worried about customer acquisition.

Pink Energy (formerly Power Home Solar) is a nationally recognized solar installation company that closes abruptly, leaving a wave of unsatisfied customers with systems in need of repair or installation. This all comes after Pink Energy built a reputation for bad sales tactics, which held true to their reviews on SolarReviews.

California's Public Utilities Commission drastically changes how solar customers from major utilities are billed. The new net billing system, NEM 3.0, reduces solar payments and renders it near impossible to estimate long-term savings, making home solar less attractive in the country's most important market.

Tesla’s Q3 2023 earnings call revealed the company’s year-over-year solar installations declined by 48%, signaling the hardships faced by the industry in recent years.

Some companies employ salespeople to sell solar by any means necessary, ranging from misleading customers to get digital signatures to pushing financing options onto homeowners that don't actually save them money. TIME exposes this tactic. (Here’s our policy analyst's take on ethics in solar sales.)

ADT entered the solar market in 2021 after successfully acquiring and rebranding Sunpro, one of the nation’s largest solar companies, to ADT Solar. Ultimately, solar was not a winning business for ADT, so it closes its entire solar business.

SunPower changes its business model to no longer offer direct residential installations, relying solely on external SunPower licensed dealers and Blue Raven Solar. SunPower lays off around 1,000 workers as a result.

SolarReviews released its second annual Solar Industry Report, revealing that nearly 50% of installers said that demand for solar reduced over 2023, solar loans were becoming too expensive, and about 18% of companies were not confident in their ability to stay in business over the next 18 months.

Titan Solar abruptly announces its closure, notifying employees via email and filing for Chapter 7 bankruptcy one week later. Titan allegedly could not find a buyer for the company and could no longer keep its doors open.

SunPower files for Chapter 11 bankruptcy, opening space to restructure the business and halt the selling of PPAs and loans, leading top solar installers to pause business. (Here’s what SunPower customers should know.)

Lumio, a large solar company offering services in 16 states, files for Chapter 11 bankruptcy, marking the fourth major company shake-up in the industry. Lumio plans to continue operations as the filing progresses.

Residential solar giant Sunnova announces it is cutting 15% of its workforce to "focus on capital efficiency" and position itself for long-term success.

The 2025 edition of the SolarReviews Solar Industry survey reveals key statistics showing that over half of solar companies fear new tariffs and potential changes to solar incentives under President Trump. Furthermore, 8% of companies expressed concerns about their ability to stay in business through 2025, with an additional 14% adding they expected to stay in business despite great difficulties.

Sunnova releases its year-end financial results, stating it does not expect to be able to operate for the entire year unless it takes additional measures to manage its working capital, secure additional tax equity investment commitments or waivers of conditions to access existing tax equity commitments, and refinance certain of its obligations. Sunnova stock loses 71% of its value after the announcement.