Titan Solar Power Company Goes Bankrupt
An email in June shared the news that Tian Solar Power, one of the biggest residential solar installers in the country, went bankrupt. This gap in service has led to many customers being wary of where they will find support with solar installation and support. Luckily, the team here at JIT Solar is ready to provide service as the best solar panel and energy company in Arizona. If the Titan Solar Power Bankruptcy impacted you, or if your solar energy company has gone out of business, we can help.
The Rise And Fall Of Titan Solar
Titan Solar Power was founded in 2013 in Arizona and was quickly one of the biggest solar panel energy companies in the United States. Their installation services expanded across 16 states, partnering with solar sales organizations to sell solar panels on the company’s behalf. This paired Titan’s ability to install solar panels with the salesmanship and skill of selling that solar panel dealers are trained to focus on. The partnership between these two facets of business led to tremendous growth and a lot of success over the past decade.
The downfall of Titan Solar rested on a few key areas. For starters, branching out the business where solar sales companies had some control over how the product was received led to unethical or sometimes illegal business practices, including overselling customers against their needs and gouging prices for unsuspecting buyers. Furthermore, this relationship allowed the dealers of the equipment to have control. Finally, some legislation changes, higher costs of labor and materials, and the risky business model the company was founded on all collapsed when a deal for more products, and therefore sales, fell through earlier this year. A once leading company in solar sales and installation was now bankrupt.
How JIT Is Built To Last
As you can see, there can be a lot of challenges when running a solar power company. We at JIT have built out a stable business, ready to face challenges and deliver top-notch service and products to our customers. A few key principles we have adopted are following through on any unfulfilled contracts and ensuring warranty needs are met. Below is how we address two of the more important aspects of solar power installation and sales within our company.
Bankruptcy Impact on Solar Power Contracts and Projects
In the Event Of An Unfulfilled Contract
JIT Solar Can Review the contract, refine the design to be more specific, and will lower the cost of the system; then, JIT Solar can Install the system. JIT Solar Will build a case-by-case solution since no home is the same structure or in need of the same amount of power. However, JIT will provide solutions in design form COMMITMENT free. Customers will be educated and understand why JIT Solar makes certain recommendations for their best interest.
For Warranty Needs
JIT Solar is a Licensed Contractor able to fulfill a proper inspection and any work needed to bring your system to up-and-running conditions. Most manufacturers’ warranties can be facilitated and redeemed by a License Installer; we have worked with all of the brands in Solar and can assist you in the event that. Typically, Workmanship warranties expire with your previous company within 2-10 years, ESPECIALLY when they have gone out of business. However, manufacturers typically pay for replacement parts and labor if your product is still under warranty. JIT Solar is happy to help you with any of your warranty claims or needs.
The Current State Of The Solar Industry In Phoenix
The growth of the Solar Industry in Arizona was very impressive in 2023, according to this report. The industry as a whole had its best first quarter ever in 2023, and the growth in 2024 is expected to follow this trend. While costs for raw materials and labor are higher, legislation is tighter, and some changes in how tax credits are applied have shaped the landscape, this has in no way hindered the potential for success. With prices on installation going down drastically overall, the opportunity for companies to capitalize on gaps in the solar power market is high.
JIT Solar: The Right Choice For Solar Energy
With the collapse of a major player in Solar Energy like Titan Solar Power, there is a gap for customers in finding a company that can do right by them when it comes to solar energy. At JIT Solar, it is our goal to focus on quality solar panel installation, ethical in house solarsales, and helping you manage your solar power projects as experts in this field. If you are affected by the bankruptcy of Titan Solar Power or your Solar Power company has failed, then reach out to our team for a competitive, free quote and a comprehensive consultation.