Borrego Gets Out of the Residential Solar Business

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Borrego Gets Out of the Residential Solar Business

by Josh Loposer (Subscribe to Josh Loposer's posts)
Feb 22nd 2009 @ 10:00AM

Filed under: Home, GreenTech, Alternative Energy

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Worker sticks his head through a unfinished solar array

It's a sad day sports fans, one of Southern California's favorite solar companies is selling off the residential side of their business, presumably because no one is willing or able to finance rooftop panels these days. Borrego Solar announced Wednesday that it would no longer be converting rooftops into solar generators unless they belong to the commercial or government sectors -- effective immediately. I'm guessing that will put a damper on their Sam's Club kiosk business.

Taking over Borrego's residential division is Vermont-based groSolar, a company that operates in 12 states and in Canada. These guys seem to know what they're doing, but it certainly looks like they're making a leap of faith. Considering the market collapse, layoffs, the mortgage crisis, and the credit crunch, my spidey senses are telling me that Borrego sold out because nobody was buying. Probably because very few homeowners could get approved for the hefty loan necessary to pimp their roof. That being the case, GroSolar must have got Borrego's business for pennies on the dollar. Hopefully, it was worth the pennies.

[via Earth2Tech]

Comments [1]

Reader Comments (Page 1 of 1)

2-23-2009 @ 10:18AM

Audrey Walker said...

Luckily, homeowners are still interested in going solar. The benefits of going solar are more than financial, including reducing toxic emissions that contribute to global warming and empowering personal and national independence from foreign sources.

Many homeowners that our company here in Seattle are working with see installing solar hot water or solar photovoltaic systems as a way to safely invest the money that they do into something with real, measurable returns. They realize that it also protects them from skyrocketing utility rate increases.

Plus with the recent abolishment of the $2000 limit on tax credit for residential solar installations and the most recent stimulus package allowing grants instead of tax credits, going solar is now more affordable than ever for homeowners

For more information on the benefits of solar power check out our website at http://www.sunergysytems.com.

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