Bankruptcy of Titan Solar and Struggles in the Solar Industry
Titan Solar, one of the largest residential solar installers in the U.S., abruptly shut its doors and filed for bankruptcy. The solar industry is struggling due to various reasons, including regulatory actions, high costs, and aggressive sales tactics.
Key Points
- Titan Solar filed for bankruptcy and closed its doors, leaving customers with solar panels they may or may not want.
- The broader solar industry is facing significant challenges, with multiple companies filing for bankruptcy and share prices plummeting.
- One key flaw in the solar industry is aggressive sales tactics and overselling of systems to maximize commissions.
- Titan Solar operated on a dealer model, which led to customer complaints, regulatory actions, and lawsuits.