Solar Panel Scams: How To Avoid Higher Energy Bills and Costly Installer Blunders

Solar Panel Scams: How To Avoid Higher Energy Bills and Costly Installer Blunders poster by Landmark

Solar panels offer a major advantage: they reduce energy costs. By converting sunlight into electricity, users become less dependent on the traditional power grid and the unpredictable rates charged by utility providers.

Sunnova Energy, a major solar installer, is facing financial difficulties and potential bankruptcy due to insufficient cash flow. The company has been dealing with challenges such as a class action lawsuit and workforce reductions. If Sunnova fails, it will join SunPower and Lumio, which also filed for bankruptcy in 2024, potentially leaving customers in a difficult situation.

What to do if your solar installation company ceases operations?

For customers affected by an installer's bankruptcy, third-party insurance can provide protection for a monthly fee. This insurance connects homeowners with a network of installers who can perform necessary repairs. Although the installer's warranty becomes invalid, customers may still have coverage under manufacturer warranties for essential components like solar panels and inverters.

Is solar still worth it?

Boosted by federal and state incentives, the solar industry has unfortunately attracted some unscrupulous actors exploiting the system and making headlines for negative reasons. Despite recent challenges, the long-term advantages of solar energy remain clear: substantial cost savings and access to clean, renewable energy.

Homeowners are encouraged to exercise caution when selecting a solar provider. Experts recommend choosing a local company with at least five years of experience, reviewing customer feedback, and comparing multiple quotes before committing to a contract.

Source: realtor.com