Powur halts work after a year of not being paid by Sunova
For the past year, Powur a residential solar company has faced payment challenges with Sunova a popular financial Company. Who until recently has been a significant financer in solar installations.
Typically solar companies recruit customers, and work with Finance companies who guarantee the equipment, and insure the job gets paid for once the installation has been completed, and the system has been turned on.
Sunova Energy is one of many options solar customers have when financing a solar system. Good thing to. For the past year Sunova Energy has not been paying for jobs that they have financially guaranteed.
As a decisive response, Powur-Solar has taken the firm step of halting all Sunova-financed solar installations. This action will stand until Sunova clears its outstanding debts and ensures timely payments in the future.
This halt reflects Powur's commitment to financial stability and fair business practices. It's a necessary move to safeguard their operations and maintain service quality for all stakeholders involved.
Efforts from both companies are anticipated to resolve this issue swiftly to resume their partnership. The solar community is keenly watching, hoping for a resolution that ensures sustainable collaboration.
Stay tuned for updates on this ongoing situation as we continue to monitor developments.
Customers and Solar Salesman who have contracts with Sunova should consider switching to a more stable financing company.
Its important for the industry to get ahead of issue's like this.
1st month of the new year Powur dipped into it's pocket to fund a few more installs, but Sunova has not reciprocated by catching up on the past due for installed jobs so Powur has stopped work on Sunova financed jobs again until February 1st, at least for the moment, it does not like Sunova has the funds to catch up with the work they have financed.
Making it a good idea to use a different finance company for solar deals going forward.
Arthur Walsh
