You have questions or concerns about choosing the right solar company to handle your projects. We have answers.
Last week saw the bankruptcy of SunEdison, one of the largest solar companies in the world.
This news might make you feel nervous if you are considering a solar installation for your home or commercial space, but worry not – there are some easy steps you can take to ensure you choose a solar company that can provide the service you need for the lifetime of your installation.
Today, solar is a better deal than ever with an even brighter future. Solar technologies have been proven over decades in the field. Large corporations are investing billions in the industry, powering a record number of installations in 2015. Total solar installations hit the 1 million mark in February, and total industry growth is projected to hit a staggering 119% this year. As the solar market expands logarithmically, prices are plummeting. Right now, solar can help business owners and homeowners around the country slash energy costs while going green.
That said, any maturing industry will see consolidation and growing pains from time to time, as the SunEdison situation demonstrates. If you’re wondering how to choose the best partner for your solar installation, we’ve identified some key questions you can ask. Even if your company has already selected a developer or installer, the guidelines below can help confirm if you are on the right track to finding a stable and sustainable solar energy partner:
- Track record. Check out the length of time in business — the longer the better. Ask your salesperson how many failed/unbuilt contracts the company has accrued.
- Financial strength. Are they cash flow positive or profitable? Can they weather an occasional downturn? Take a look at financial backing or the stability of a notable parent company or partner. For publicly traded companies like SolarCity, you can take a look at their earnings and analyses to review any skepticism about their financials. If the company is private but owned by a parent company, look at the financial strength of the parent.
- Delivering as promised. Request operations statistics, including first-year system performance, on-time delivery of projects and project cycle times. It’s always good to ask for existing customer referrals to get a real sense of how the project went from their perspective. Companies should have good monitoring capabilities and be able to explain how their maintenance teams are deployed.
- Customer base. Look for experience working with big brands, which will have already done some extensive vetting for you in choosing their partners.
While the bankruptcy of an industry trailblazer has many wondering what the future holds, we see sunny days ahead for commercial solar. REC Solar has been installing for 18 years, and we have adapted to each new challenge in this rapidly-growing field. In partnership with Duke Energy, we strive to run our business for the long-term, focusing on customer satisfaction and running a profitable company. Our experience and strong backing puts us in a position to be a responsible and reliable energy partner to our customers for decades.
If your solar provider is going out of business or you’ve been planning a solar installation but don’t yet have a provider, you may have additional questions about how to apply these guidelines to your search. The REC Solar team is happy to help review your options to ensure that you’re choosing the best solar partner for your business. Please contact us and our team will get back to you as soon as possible with the answers to your questions.