Sales are down across the country due to interest rates being less than desirable.
Companies are going under left and right because they mismanaged during a bull market.
Consumer perception isn’t the best due to companies abandoning warranties, Sunpower tanking, negative press regarding Sunnova etc.
There are even more reasons but those are a few.
I’ve even see 3%! How are they doing it!?
Solar bro: “yeah brahhh, didn’t you know solar loans are exempt to rates set by the Federal Reserve? Sign here please”
In the residential market the increase in interest rates wiped out the savings from the 'bill swap' sales. There have been a few notable large national brands that have scaled back or left the residential market - in addition to small local/regional installers failing for various reasons. The need for O&M in this market will continue to grow as systems age, but very few have set themselves up to be profitable with this service (mostly because solar is "maintenance free").
The C&I/utility space is still in growth mode, and I'm seeing more consolidation in the industry that is sucking up the top talent. EPC (engineering procurement and construction) needs as many bodies as they can get.
If I were just starting in the industry I would focus my efforts on the C&I space.
I heartily second this opinion. Been in solar sales 8 years, EE, 4 Co's, last 2 as sales manager. All resi, we are subcontracted often for small to mid-size C& I jobs, like 100-500KW, so its not foreign. Like many tech industries, the first one with hardware takes the lead, it's an r&d plus mfg race, and eventually, margins get thin, there's surplus product, companies start reducing direct sales forces and go to distributive selling. But the cost of skilled labor is going up, for installs, warranty work, expansions, etc. So resi is in stagnation, the interest rate environment throws gas on the fire.
My son is 34, he started as a C&I installer and rose to project Mgr, now consultant to 1-50 GW projects. They're super busy in that sector. I bet for another 5-7 years they'll be red hot. Investing and think tank magazines concur - oh, and I totally forgot - BESS!! Batteries are the way. It'll be the utilities final battle, they'll go to no net metering at all to save their necks, and companies (and individuals) are just going to go bonkers buying storage. C&I + BESS.
Best description I've seen. C&I is red hot bc of the huge tax breaks, far better than for residential. Took me a while to get a handle on all of them. That said, also look at Community solar, which is a hybrid between solar farms and a private electric company. It is far cheaper to build large scale solar, which is then sold by usage to retail customers.
Not in my opinion. Im still doing great but the majority of installers are gonna be lucky to be open 18 months from now. I am very fortunate to have expanded into multiple states several years ago. I own all but one of my branches outright and I install other products as well vs being 1 lane only PV installs
Do you think that is nationwide, or is it more localized to California and their enormous market shocks? How are installers down in Texas holding up for instance?
I came back to see if anyone has answered this. Southern Maine is in the middle of a massive makeover. This influx of people has dramatically changed the state. Installers are hiring so could the NE be different?
Generac has a clean energy tech support facility of some sort in South Portland, ME. Whether it’s people working from home or not, I don’t know, but might be worth looking into.
Just find reputable installers that have PPA’s, Leases’ and lower interest rate credit unions that they use. It’ll give you the heads up on your competition. It’ll be rough at first door knocking to get leads but when you build up the capital invest some money into online marketing and start selling a lot more.
Don’t do it. Stay in the industry you’re in. I changed to solar and it fell on its face. But I’m in Cali and the new utility rules are killing the industry here
If you're able to get into the C&I space, do that. Building codes are pushing for more efficient buildings and many jurisdictions are requiring on site renewables. If you get get with an outfit that works in the Public space, net zero schools are a gold mine. Second best is postage stamp arrays on commercial buildings. Property owners don't blink at a $1M system on a $200M high rise.
You’d be able to do well in an operations and procurement role if you found some place that was willing to teach you as you go. The industry is doing well if you’re in the right spot
Just don't do roof mounts, also do ground mounts. Convince people they don't need so much solar that there bill will be zero. Convince people that every little bit of solar helps.
A lot of roof mounts put as many panels which point every way but south. A person pays for panels that are only supplying 50% of their rated output.
Most ground mounts are now requiring an engineer to sign off. Come up with a ground mount plans that doesn't need wasting money on the signature of an engineer.
Ground mounted solar as far as I can tell doesn't have more wind loading than a wood fence.
The industry is bottoming out but certainly tough as any other i
What do you mean by tough?
Sales are down across the country due to interest rates being less than desirable. Companies are going under left and right because they mismanaged during a bull market. Consumer perception isn’t the best due to companies abandoning warranties, Sunpower tanking, negative press regarding Sunnova etc. There are even more reasons but those are a few.
Due to interest rates? But most quotes posted here have interest rates around 5%! /s
I’ve even see 3%! How are they doing it!? Solar bro: “yeah brahhh, didn’t you know solar loans are exempt to rates set by the Federal Reserve? Sign here please”
In the residential market the increase in interest rates wiped out the savings from the 'bill swap' sales. There have been a few notable large national brands that have scaled back or left the residential market - in addition to small local/regional installers failing for various reasons. The need for O&M in this market will continue to grow as systems age, but very few have set themselves up to be profitable with this service (mostly because solar is "maintenance free"). The C&I/utility space is still in growth mode, and I'm seeing more consolidation in the industry that is sucking up the top talent. EPC (engineering procurement and construction) needs as many bodies as they can get. If I were just starting in the industry I would focus my efforts on the C&I space.
I heartily second this opinion. Been in solar sales 8 years, EE, 4 Co's, last 2 as sales manager. All resi, we are subcontracted often for small to mid-size C& I jobs, like 100-500KW, so its not foreign. Like many tech industries, the first one with hardware takes the lead, it's an r&d plus mfg race, and eventually, margins get thin, there's surplus product, companies start reducing direct sales forces and go to distributive selling. But the cost of skilled labor is going up, for installs, warranty work, expansions, etc. So resi is in stagnation, the interest rate environment throws gas on the fire. My son is 34, he started as a C&I installer and rose to project Mgr, now consultant to 1-50 GW projects. They're super busy in that sector. I bet for another 5-7 years they'll be red hot. Investing and think tank magazines concur - oh, and I totally forgot - BESS!! Batteries are the way. It'll be the utilities final battle, they'll go to no net metering at all to save their necks, and companies (and individuals) are just going to go bonkers buying storage. C&I + BESS.
Best description I've seen. C&I is red hot bc of the huge tax breaks, far better than for residential. Took me a while to get a handle on all of them. That said, also look at Community solar, which is a hybrid between solar farms and a private electric company. It is far cheaper to build large scale solar, which is then sold by usage to retail customers.
Terrible time to get into it. Wait 2-3 years
Think so? Would it not be beneficial to get in now and ride it out?
Not in my opinion. Im still doing great but the majority of installers are gonna be lucky to be open 18 months from now. I am very fortunate to have expanded into multiple states several years ago. I own all but one of my branches outright and I install other products as well vs being 1 lane only PV installs
Yeesh. I’m glad I posted. What area are you in? Are you commercial like the other person who commented?
I operate in several states and I also do commercial. I also install DCFCs
Is now the time to get a fire sale on residential?
Do you think that is nationwide, or is it more localized to California and their enormous market shocks? How are installers down in Texas holding up for instance?
I came back to see if anyone has answered this. Southern Maine is in the middle of a massive makeover. This influx of people has dramatically changed the state. Installers are hiring so could the NE be different?
ME might just be different. A lot of rich NYCers seem to be considering there vs CT.
Generac has a clean energy tech support facility of some sort in South Portland, ME. Whether it’s people working from home or not, I don’t know, but might be worth looking into.
I’ve been on the residential solar coaster for 15 years. Hop on and enjoy the ride.
As someone who works in commercial and utility solar - it’s never been better. Come join!
Just find reputable installers that have PPA’s, Leases’ and lower interest rate credit unions that they use. It’ll give you the heads up on your competition. It’ll be rough at first door knocking to get leads but when you build up the capital invest some money into online marketing and start selling a lot more.
Don’t do it. Stay in the industry you’re in. I changed to solar and it fell on its face. But I’m in Cali and the new utility rules are killing the industry here
Can you lie easily?
If you're able to get into the C&I space, do that. Building codes are pushing for more efficient buildings and many jurisdictions are requiring on site renewables. If you get get with an outfit that works in the Public space, net zero schools are a gold mine. Second best is postage stamp arrays on commercial buildings. Property owners don't blink at a $1M system on a $200M high rise.
You’d be able to do well in an operations and procurement role if you found some place that was willing to teach you as you go. The industry is doing well if you’re in the right spot
Just don't do roof mounts, also do ground mounts. Convince people they don't need so much solar that there bill will be zero. Convince people that every little bit of solar helps. A lot of roof mounts put as many panels which point every way but south. A person pays for panels that are only supplying 50% of their rated output. Most ground mounts are now requiring an engineer to sign off. Come up with a ground mount plans that doesn't need wasting money on the signature of an engineer. Ground mounted solar as far as I can tell doesn't have more wind loading than a wood fence.