An email shared on Reddit and social media claims that residential solar retailer Titan Solar Power has closed its doors. Consistently ranked as one of the top solar contractors by volume, Titan started its solar construction business in Arizona in 2013 and installed solar in more than 20 states.
The shared email states that Titan Solar was in negotiations with a potential buyer to acquire the installation company, but the deal fell through. The business is closed on Thursday.
Titan Solar operated through a dealer program, where Titan worked with third-party sales contractors and managed the installation internally.
The residential solar market is experiencing some turbulence this year. Home contractors have been hit by high interest rates on loans and countermeasures from utilities and states. ADT Solar, another national home dealer, closed earlier this year. SunPower, perhaps one of the country’s most recognizable home dealers, is also dealing with layoffs and division closures of its own.
There is still support for the national dealer model. Just last week, the new company Civic Renewables announced it would act as a parent company for local solar installers to provide them with the resources of a large organization to better thrive. Civic acquired its first two installation companies, both in the eastern US
