Cuivre River Electric Cooperative’s (CREC’s) Neal Harrell has helped members understand their energy use now for more than 21 years. He’s also spent time working with metering, including member-owned solar power systems and how they safely connect to CREC’s system.
The easiest way for members to go one step further and get involved with renewable energy is to install solar panels at their homes. In the first blog, Harrell discussed the importance of getting your home ready for renewable energy by insulating and sealing air leaks so you get the most bang for your dollar.
Harrell is not against solar energy. He is against members getting burned by high-pressure sales reps and companies that have come and gone. He offers some more wise advice to those who want to add renewable energy to their own homes, and the steps to achieve that goal.
Q: What’s happening in the solar industry now?
NH: Higher interest rates have changed the dynamics of people adding solar because energy in the Midwest is relatively cheap, compared to the rest of the U.S. The higher cost of borrowing money has dramatically dropped the number of solar applications that CREC has received in the last year. I think people are getting used to paying 7-8% interest, although the return on investment is still fairly low.
Q: The downturn in applications CREC has received also tells us that the residential solar industry is hurting too.
NH: This dramatic drop in solar sales across the country has caused several large solar installers/sales companies to close their doors. For example, ADT Solar closed in January 2024, and most recently, Titan Solar closed in June.
Q: How do these business closings affect the people who purchased from them?
NH: Unfortunately, somebody with a system installed by a company that closes likely ends up with a labor warranty that is null and void.
Q: Are there companies out there that can help people who need service?
NH: You will still be able to get your solar panels serviced by another company, but those members who thought they had an all-in-one price to cover their systems will now be paying another company for a needed service call. The other recent trend I’ve seen is that slower sales have caused solar salespeople to become even more aggressive in their sales tactics.
Q: So members need to be extra cautious, correct?
NH: Yes. Do not be rushed into a sale. Take your time and compare the numbers. A good deal today will still be a good deal tomorrow. The 30% federal tax credit is still funded through 2032 so there’s definitely time left to purchase a residential system.
Harrell concludes, “Don’t sign anything unless you are prepared to install solar. You may think you’re getting more information but they may consider it to be a contract.”
More on solar from Members First: https://membersfirst.coop/solar-faq
Next time: Steps for those ready to add solar at their home.