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About the Episode:

The challenges faced by the residential and commercial solar industry are varied amidst declining sales and high-interest rates. Panelists Scott Nguyen (Bodhi Solar), Rachel Finn (Greentech Renewables), and Stan Pipkin (Lighthouse Solar), share their strategies for navigating these uncertain times. They discuss product diversification, customer service, financing options, and marketing approaches. While 2023 has posed challenges, our experts foresee a rebound in early 2024. The takeaways from this conversation provide valuable lessons for survival and growth in a fluctuating economy for anyone seeking to build their Solar business or career.

Helpful RESOURCES:

Connect with Scott Nguyen on LinkedIn

Connect with Stan Pipkin on LinkedIn

Connect with Rachel Finn on LinkedIn

Follow Bodhi on LinkedIn and check out their website.

Follow Lighthouse Solar on LinkedIn and check out their website.

Follow Greentech Renewables on LinkedIn and check out their website.

Key Takeaways:

1. Residential Solar Sales Drop: High interest rates, regulatory changes, and economic uncertainties have led to a decline in residential solar sales in 2023. Regional installers have shown a greater capacity to endure these challenges compared to national installers.
2. Financing Options: Working alongside local banks and credit unions to expand financing options provides appealing solutions for customers in the high-interest-rate economy. PPAs and leases may be an option too, but may be more difficult to utilize due to utility regulations.
3. Projected Market Rebound: Despite 2023's challenges, the panelists anticipate a market rebound in 2024 with stabilizing economic conditions. Solar installers offering a diverse mix of residential, commercial, and service offerings would be better positioned to navigate fluctuations in any single market segment.

WATCH THIS EPISODE ON YOUTUBE:

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ABOUT THE HOST OF SUNCAST:

Nico Johnson is the creator and host of SunCast, consistently rated a top solar podcast in the clean energy sector. The content of the show is geared towards listeners looking for insights on where the markets are headed, how to position themselves or their companies, and what today's market leaders do to stay ahead of the pack.

Nico is an Investor, Executive Coach, and 16-year veteran of the solar industry, having led development in the US and Latin America for global companies like Trina Solar and Conergy.

You can connect with Nico Johnson on Twitter, LinkedIn or email.

If you’ve been second-guessing your work decisions or maybe trying to reconsider how you "fit" in the renewable energy industry -> grab 20 minutes on Nico's calendar and discuss whether having him as Your personal coach might be the right next step.