An email shared on Reddit and across social media is claiming that residential solar dealer Titan Solar Power has shut its doors. Consistently ranked as a Top Solar Contractor based on volume, Titan began its solar construction business in 2013 in Arizona and installed solar in over 20 states.
The shared email states that Titan Solar was negotiating with a potential buyer to acquire the installation company, but the deal fell through. The company closed on Thursday.
Titan Solar worked through a dealership program, wherein Titan would partner with third-party sales contractors while managing installation in-house.
The residential solar market is experiencing some turbulence this year. Residential contractors have been hit with high interest rates on loans and pushback from utilities and states. ADT Solar, another national residential dealer, shut down earlier this year. SunPower, perhaps one of the country’s most recognizable residential dealers, is also working through its own layoffs and division closures.
There is still support behind the national dealership model. Just last week, new venture Civic Renewables announced it would act as a parent company to local solar installers to provide them the resources of a large organization to better thrive. Civic acquired its first two installation businesses, both in the eastern U.S.
