Breitbart- A U.S.-based residential solar panel company, part of whose goal is to “help the planet,” has filed for Chapter 11 bankruptcy. Lumio made the announcement on Tuesday amid “a value-maximising sale process,” Renewables Now reported. more here
8 Comments on U.S. Solar Panel Company Lumio Files for Chapter 11 Bankruptcy
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Most Solar companies go out of business within 24 months, making warranties useless. After 24 months none of my Phoenix area solar victims were defending their decisions to go solar. Moved to the pacific northwest. Kinda fun telling local solar people that if solar didn’t pencil out in Phoenix it sure as hell isn’t going to pencil out here.
Whenever I’ve been hustled to install solar, I always ask these questions:
Will your company reimburse me for hiring my own structural engineer to see if my roof can take weight of the panels ? Crickets
Will your company post a surety bond to remove the panels an repair the roof when the panels eventually die ? Crickets
Will your company post a surety bond to repair my roof when your attachments leak ? “Our attachments don’t leak”. Yeah, right. They said that about the Titanic too.
Another in a well-established fraud pattern: solar company takes the money and fscks their customers and creditors. These crooks really ought to get serious prison time.
Yes, the important thing is that bonuses were paid out before they went bankrupt.
^^^
LCD hits the nail on the head!
“U.S. Solar Panel Company”
Leads one to believe they were a manufacturer. Instead they’re just another panel hanger. They’re on every street corner in California. Due to the declining prices the utility companies will pay you for the electricity you generate solar is no longer worth it. Unless you buy the batteries and get off the grid.
“Who will help me clean up my toxic solar waste?,” asked the little red CumAllahLa.
“The taxpayers,” responded Br’er Wolf.
“This grift has played out and we got all we could squeeze out of them. Time to move on to the next con.”