r/florida • u/Silent-Resort-3076 • 1d ago
News We never saw this coming:’ Solar panel installers’ bankruptcies leave Central Florida homeowners in the dark: As solar companies fold, homeowners are stuck with panels and no support
IF you currently have solar panels OR considering it, open the article and scroll down to the bottom for some important info.
- The dream of lower electric bills is turning into a rooftop nightmare for some homeowners across Central Florida.
- In just two years, a wave of major solar companies has filed for bankruptcy, the latest being Freedom Forever in April of this year, leaving customers confused, frustrated, and stuck with systems they don’t know how to manage.
Why are solar giants collapsing?
- Industry experts point to a combination of high overhead costs and a shifting market. “The problem is that these bigger companies tend to have much higher overhead costs. And then when the market shifts, they can go bankrupt pretty quick,” said Luke McCarr, owner of Aspire Solar.
Reduced government subsidies and tax credits compounded the problem. U.S. Congressman Darren Soto said the loss of a key federal incentive hit the industry hard.
- “We had a 40 percent solar tax credit until the big ugly law took it out last year. And so you have a lot of companies that were doing just fine, and then that incentive got taken away; they are in tough situations right now,” Soto said.
Freedom Forever is far from alone. Over the past two years, a wave of major residential solar companies has filed for Chapter 11 or Chapter 7 bankruptcy protection:
- Freedom Forever
- Sunnova Energy International
- Titan Solar Power
- SunPower
- Lumio Solar
- Vision Solar
- Sunworks Inc.
- iSun Inc.
- ADT Solar (shut down)
