In 2017, some of the biggest solar companies went bankrupt including Sungevity and SunEdison. What are the potential risks for homeowners if their solar provider goes out of business?
GREAT question. I think the biggest thing for those companies going out of business is: can you get the parts anymore and is there a company who can service the product. In my opinion those would be the biggest obstacles. You wouldn’t have any new products being delivered or upgrade options sure but really you buy for green energy and are looking for long term ROI anyways so it is not a product you are looking to upgrade often. As a homeowner though you do have things go wrong and you do have maintenance that needs to occur and in my mind that is where these companies going out of business could really have an affect on you.
One of the largest potential risks is the fact of losing any warranty or manufacture guarantee. If there were to be a problem with the panel it would be an out of pocket expense if the company had went under, some go a step forward like Canadian Solar and cover the consumer in that case with a third party warranty.
If you are afraid for example if the solar components that have been installed at your property, such as the inverter. This products come with warranty from the manufacturer. It means that you may be entitled to a free replacement. As general contractor we can deal with the manufacturers and suppliers directly to determine if products are still under warranty, and can arrange replacement and installation if required.