Solar Company Collapse Leaves Customers Frustrated And Uncertain

The collapse of Titan Solar has left many homeowners with solar panels but no company to maintain them. On June 13, Titan Solar informed its employees that it was closing its doors due to the inability to find a buyer, according to Time. The company claimed to have installed solar panels on more than 100,000 homes, but now those customers face an uncertain future.

Over the past two years, the solar industry has seen a significant number of companies go under. Solar Insure reported that 16 major solar companies have filed for bankruptcy since 2023. Time estimated that around 100 local solar installers went bankrupt in 2023 alone.

This trend has raised questions about the viability of solar energy companies, particularly those heavily reliant on federal subsidies. The financial instability in the industry has also impacted major players. SunPower recently expressed “substantial doubt” about its ability to continue operating, and share prices for national solar installers like SunRun and Sunnova have plummeted by more than 85% since 2020.

National Review’s Andrew Follett criticized the current state of the solar industry, arguing that Americans have seen little benefit from the substantial federal spending on solar power. He pointed to issues such as an unstable power grid and an increased risk of blackouts as evidence that the Biden administration’s investments in solar energy have not paid off.

President Joe Biden’s administration has funneled significant funds into renewable energy. The Inflation Reduction Act and the Infrastructure Investment and Jobs Act alone included $919 billion in subsidies for renewable energy, on top of $450 billion spent on green energy investments from 2010 to 2019.

However, these subsidies have also led to questionable practices by some solar companies. For instance, Sunnova, which received a $3 billion loan from the Biden administration, has been accused of pressuring elderly dementia patients into signing long-term, expensive solar panel contracts.

A recent study highlighted that renewable energy sources, including solar, account for 21% of American electricity production but receive the largest share of federal subsidies, totaling $83.8 billion. Sen. John Barrasso (R-WY), the ranking member of the Senate Energy and Natural Resources Committee, emphasized that solar energy remains heavily dependent on taxpayer-funded subsidies.

“For years Democrats have claimed technologies like solar energy are cheaper than coal, oil, natural gas, and nuclear. This report makes clear that solar is largely dependent on heavy subsidies with taxpayer dollars,” Barrasso said. “American families are paying too much for energy as it is. They shouldn’t have to fork over their hard-earned money to support liberal special interests. Solar should be competing for sales in the marketplace, not for subsidies in Washington.”

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