Recent news of two mega solar technology companies, SolarCity and Sunrun, being probed by the SEC has us thinking: Are national solar companies losing their viability?
It’s a question local solar companies have been asking themselves for a few years now. And for good reason.
SEC Investigation Not a Shock
The SolarCity, Sunrun bombshell earlier this month shook the industry, but it wasn’t a complete surprise.
The two Bay Area solar tech companies are being probed by the SEC over whether or not they have adequately disclosed how many customers signed up for solar systems but later canceled their contract. In a nutshell, the SEC wants to know if these companies were deliberately unclear about how many customers they’re losing.
The truth is, SolarCity (which is owned by Tesla) and Sunrun, ARE losing customers. The reason is because local solar companies are gaining a foothold in the industry that the big guys can’t match.
Let me explain.
Local Solar Companies Gain a Foothold
National companies can only stay open if they are selling new systems. And one day, in the not too distant future, everyone is going to have a solar system on their roof. That means, the new customer market will implode, forcing national companies to close their doors — and local companies to thrive with more maintenance and service contracts.
What’s more, local solar companies have different business models than their national competitors, as well as a very low overhead. Their chances of success are tenfold against the national companies — even if sales of new systems are low.
3 Ways to Spot a Reputable Local Solar Energy Company
Moving forward, Energy Concepts wholeheartedly recommends consumers in the greater Fresno area, and throughout the country, to choose a local company for their solar energy needs.
How do you know if local solar energy company is reputable? Here are 3 ways to find out:
- Review the company’s website to determine legitimacy.
- Check the company’s social media profiles. Is the business active and engaging with customers?
- Read online reviews on Google, Facebook, and Yelp.
As long as consumers do their research, read online reviews, and maybe do a drive by to check out the quality of workmanship, they’ll be in good hands from day one.
As far as what the future holds for SolarCity and Sunrun, no one is quite sure how the SEC investigation will pan out. In the meantime, Energy Concepts urges consumers to think “local” when exploring their solar energy options.