It’s wild to me that his company Lumio almost went bankrupt and got kicked out as a CEO from shareholders but giving advices on how to run the successful solar company
We have SunPower. It came with the house which is a Model house. The builder installed it. We always got a credit at True-up bill. We have been in this house for six years. Last December our Inverter stopped working. Their technicians came and they couldn't fix it. So they ordered for new inverter which was out of stock. Finally They got the new inverter and installed it on May 16. Within one month they calculated NEM charges and reimbursed the amount. So I think they are a good company.
Sun power are the best solar panels in the industry. The reason you have a true up is heavyset you probably got the standard 10 or 12 pack that comes with the house. You probably needed 14-15. No big deal. Sun power don’t make inverters. Sounds got a good setup 💪
I remember being on a call with J Gibbs about Australia and the future of Solar with regulations, pay plans and AI Integration. One of the best calls I’ve been on. And he has a great understanding of business regardless of the product/services.
When a company with a solid reputation with 38 years in the market, with the best product, are going down, the only question is: what's the deadline for the industry itself? I use to sell SunPower with the real solid argument that SunPower, compared with those companies that went down, has a solid position, witnessing how some companies were born, raise and disappeared, meanwhile SunPower was just growing. Now, with this....what's the future?
The issue is most people dont make enough money to fully utilize the tax credit. Solar should prioritized for the lower middle income, PPAs cause too many cash flow issues but the bullshit non refundable tax is the issue. Figure a way to work side by side with utility companies, fix the tax credit and get rid of easy ppa sells at 2.5% escalators.
Timelines mentioned for sunpower: Feb 2024 Sunpower get $300M for resi leases 3 days later CEO steps down Late on quarterly filings July 2024 end lease plan hire big time accounting firm - could mean looking at BK or restructuring
Hey everyone. So i started this ppa endeavor with sunpower in February. My system is fully installed and just got commissioned and im waiting for the utility company to get me up and running. What does this do to me? Will i still be paying sunpower? Does my system just shut down because they can remotely control it? I have 30 panels and a battery. And as bad as this sounds i am happy that they may go under. This has been such a nightmare. The stress and frustration i do not wish on my worst enemy
ADT did NOT take care of all their employees. I was not paid on about $5,000 worth of jobs. Shame... This was a great session by the way!! KUDOS to you guys for doing this!!!!!
I had 2 ADT permits approved since the beginning of February and they didn't install the projects. They also didn't pay for for two deals I closed in Feb. ADT just canceled the jobs.
SunPower officially announced the discontinuation of the LEASE AND PPA program. They are still operating their cash and finance plans. That’s a detail that was misquoted earlier.
Idk what can save this company the biggest shareholder of the company is a French energy company I think with about a 50% position in the company my question is if that company sold there shares yet.
I had signed all the paperwork for sunpower on May 2024.. last month they came and put the panels on my roof and now they are just sitting there and they can't turn them on and I can't do anything cause I have to wait until they figure out whats going on... I would like to know if I can cancel so I can look for another company???
Sunpower is/was a very good solar company. Their solar panels are the world's best. There is no argument about their panels. It is very unfortunate that they went bankrupt. Mostly due to excessive operational costs and losses thru maintaining systems, cost of doing business etc. Otherwise they were the best. Very sad to see them go.
I would hope so. 6 month and they still haven't come to fix my system. Keep canceling my appointments. My neighbor has needed his inverter fixed for almost 2 years. Sunpower refuses to fix anything.
I work in solar and we don’t seem to have a problem closing deals. We’ve been in business 17 years and close at a 60% rate. What I want to know is how you sell solar through text message… I can see booking appointments… but final signs from texts? There’s no way
@@robertburke1486 60% of the people that demo go pending, that doesn’t mean every project gets approved or goes through. The point was, in the market I work in, people are not scared of making the switch because sun power went out of business. I haven’t even had one person bring it up, it’s all the usual concerns. Learn how to reach out to the right homes and find a market where the cost of power is ridiculous. Duke energy in Florida is a good one to target, it doesn’t really matter because the cost per Kw is going up almost every where, either directly or to a increased delivery fee… and people are tried of getting metaphorically raped. Industry average is about 36% …. At this moment closing a little more then half the people that sit down is not unheard of. I could explain more but that would be explaining and teaching too much. But tell me you didn’t hit your numbers last week without telling me 😂 With an attitude like that no wonder
Sunpower is/was a very good solar company. Their solar panels are the world's best. There is no argument about their panels. It is very unfortunate that they went bankrupt. Mostly due to excessive operational costs and losses thru maintaining systems, cost of doing business etc. Otherwise they were the best. Very sad to see them go.
There is so much churn for the customer to digest. How much longer will TX allow net metering? How much longer will local installers be in business? Will the rebates go away after the next election if Trump wins? Lots of FUD right now.
I sell for Sunrun been in the industry 10 years. We were selling our fixed ppa at .33 per kwh and i would be competing at Sunpowers .11 per kwh. Now it makes sense the price difference. Mind you the utility is charging .50ish per kwh in this market im speaking of. The margin exists for the company to prosper and the customer to still benefit. Bye bye Sunpower.
No one is talking about sunpowers' main source of income....new homes....sunpower still offers lease and ppa's to new home customers. Retro installation was not and never was sunpowers bread and butter. Sunpower has 80 to 85% market capture in the new homes sector. Sunpowers' new homes channel always met forecast and had to subsidize the rest of the company. All these experts fail to see the whole picture. Sunpower actually made a lot of moves to be cash flow positive. I mean, you lay off over 1000 people, and that is a lot of overhead to move off the balance sheet. Dig deeper, please, and don't make sweeping statements.
12:41 WHAT‼️ I work for Sunrun and you are so wrong about Sunrun being broke. Sunrun is wayyyyyyyy bigger than Nivio. How many installs does Nivio do in a month? How many times do you pull permits? How many TOTAL installs has Nivio/Lumio done so far? You’re not even in CA. Nivio is not in California because you can’t compete here. GTFOH‼️
You’re missing the point my brother. Used to work for SunRun as well and I get where you’re coming from, they make you think they’re the best. And they definitely have a good product don’t get me wrong! But the issue is PPA/Leases accrue a lot of debt for companies, and when you take a company like SunRun who gives out hella free trips, pays these big commissions, incentives left and right, they’re spending a ton of money they don’t have. I’m sure they’ll be fine in the long run, but in the current moment, yeah they’re definitely broke.
I’ll rather work here in my local Texas solar company with great local reviews than work for a company trying to go big with a stick at the bottom holding up the entire company
It’s wild to me that his company Lumio almost went bankrupt and got kicked out as a CEO from shareholders but giving advices on how to run the successful solar company
Damn cooked him pretty hard lol
Lol
That’s how he knows what not to do…
We have SunPower. It came with the house which is a Model house. The builder installed it. We always got a credit at True-up bill. We have been in this house for six years. Last December our Inverter stopped working. Their technicians came and they couldn't fix it. So they ordered for new inverter which was out of stock. Finally They got the new inverter and installed it on May 16. Within one month they calculated NEM charges and reimbursed the amount. So I think they are a good company.
Sun power are the best solar panels in the industry. The reason you have a true up is heavyset you probably got the standard 10 or 12 pack that comes with the house. You probably needed 14-15. No big deal. Sun power don’t make inverters.
Sounds got a good setup 💪
@@leewilson5389 Our house has 16 panels. So far we received a credit at True-up!
I remember being on a call with J Gibbs about Australia and the future of Solar with regulations, pay plans and AI Integration. One of the best calls I’ve been on. And he has a great understanding of business regardless of the product/services.
When a company with a solid reputation with 38 years in the market, with the best product, are going down, the only question is: what's the deadline for the industry itself? I use to sell SunPower with the real solid argument that SunPower, compared with those companies that went down, has a solid position, witnessing how some companies were born, raise and disappeared, meanwhile SunPower was just growing. Now, with this....what's the future?
Any firm that over-leverages their financials is at risk
It has nothing to do with reputation or product, it’s all about management and how they handle credit leverages
@@Burningsun92 It sounds like a solid company with a big name has no idea how to handle their finances? Do you really think that?
@@joseparedes380 Have you heard of Enron?
What’s the future? 8:51
AI sales bots at $2/watt
Well, now I got panels on my house and I still owe money on it. How do I get them to work?
The issue is most people dont make enough money to fully utilize the tax credit.
Solar should prioritized for the lower middle income, PPAs cause too many cash flow issues but the bullshit non refundable tax is the issue.
Figure a way to work side by side with utility companies, fix the tax credit and get rid of easy ppa sells at 2.5% escalators.
Timelines mentioned for sunpower:
Feb 2024 Sunpower get $300M for resi leases
3 days later CEO steps down
Late on quarterly filings
July 2024 end lease plan
hire big time accounting firm - could mean looking at BK or restructuring
Whats BK
@@Tabooza bankruptcy
Huge red flags right now. I’m about to close up shop. Way too much uncertainty.
Many will fall
Few will withstand the storm
Hey everyone. So i started this ppa endeavor with sunpower in February. My system is fully installed and just got commissioned and im waiting for the utility company to get me up and running. What does this do to me? Will i still be paying sunpower? Does my system just shut down because they can remotely control it? I have 30 panels and a battery. And as bad as this sounds i am happy that they may go under. This has been such a nightmare. The stress and frustration i do not wish on my worst enemy
If you got a ppa through them does that mean you keep the panels and the energy they produce?
I think so
ADT did NOT take care of all their employees. I was not paid on about $5,000 worth of jobs. Shame...
This was a great session by the way!! KUDOS to you guys for doing this!!!!!
I had 2 ADT permits approved since the beginning of February and they didn't install the projects. They also didn't pay for for two deals I closed in Feb. ADT just canceled the jobs.
@@briantenney7554damn wtf 🫥
SunPower officially announced the discontinuation of the LEASE AND PPA program. They are still operating their cash and finance plans. That’s a detail that was misquoted earlier.
Idk what can save this company the biggest shareholder of the company is a French energy company I think with about a 50% position in the company my question is if that company sold there shares yet.
Wow that guy hit it on point he knows the industry well.
Always good to hear from Jonathan Gibbs
I had signed all the paperwork for sunpower on May 2024.. last month they came and put the panels on my roof and now they are just sitting there and they can't turn them on and I can't do anything cause I have to wait until they figure out whats going on... I would like to know if I can cancel so I can look for another company???
Impossible. Works been done
Which freedom are you guys referring to?
Forever
they have done this before, used to sunpower pulling the rug out from under you.
Great Interview guys. Will could you aak Jonathan for a couple of specific companies you knows it who offer the insurance policies that he mentioned
Dang. I felt like SunPower was one of the best, perhaps the best. Damn shame.
Sunpower is/was a very good solar company. Their solar panels are the world's best. There is no argument about their panels. It is very unfortunate that they went bankrupt. Mostly due to excessive operational costs and losses thru maintaining systems, cost of doing business etc. Otherwise they were the best. Very sad to see them go.
Quick question, how is Oregon for selling solar virtually?
Do the customers with a sunpower install under a lease get to keep the systems free and clear
I would hope so. 6 month and they still haven't come to fix my system. Keep canceling my appointments. My neighbor has needed his inverter fixed for almost 2 years. Sunpower refuses to fix anything.
The fact you’re less than 800 views from 2 milly is crazy LFG Billy Gainz 💪🏼
What do you think about Maxeon and the possibility of returning to profitability?
I’m curious of the same thing!
Killer content guys. Super grateful.
I hope u guys talk about enphase
Not issuing ntp, homes have to stop mid install. This is horrible
Nice FUD. SunPower is not going out of business, it is restructuring, and laying off some employees is part of that.
Ouch this didn't age well. Filed bk today
Good chat Will..Gibbs is in the know!
Damn I can’t believe Sunpower, the top ppa provider and the one that’s been around the longest went to shit.
I work in solar and we don’t seem to have a problem closing deals. We’ve been in business 17 years and close at a 60% rate. What I want to know is how you sell solar through text message… I can see booking appointments… but final signs from texts? There’s no way
Sure.....you close at a 60% rate. this has always been typical of the solar business; everybody is full of shit.
@@robertburke1486 60% of the people that demo go pending, that doesn’t mean every project gets approved or goes through. The point was, in the market I work in, people are not scared of making the switch because sun power went out of business. I haven’t even had one person bring it up, it’s all the usual concerns.
Learn how to reach out to the right homes and find a market where the cost of power is ridiculous. Duke energy in Florida is a good one to target, it doesn’t really matter because the cost per Kw is going up almost every where, either directly or to a increased delivery fee… and people are tried of getting metaphorically raped.
Industry average is about 36% …. At this moment closing a little more then half the people that sit down is not unheard of.
I could explain more but that would be explaining and teaching too much.
But tell me you didn’t hit your numbers last week without telling me 😂
With an attitude like that no wonder
He meant booking a phone consultation and the job being sold over the phone. Quick email. Signed done
I’ve looked into the ai automation it’s pretty impressive , I believe it’s more about cold and appointment setting from online capture …
Awesome discussion. Thank you
Sunpower doesn’t not control the entire process that’s why they failed. Sunrun controls the entire process from start to finish.
Not true at all…
Good discussion guys!
There’s A TON of good panels out there. Stop getting stuck of sun power
A 530W solar panel can be had for $160...so 2 dollar a watt is well beyond the realistic price that can be charged for these things.
Sunpower is/was a very good solar company. Their solar panels are the world's best. There is no argument about their panels. It is very unfortunate that they went bankrupt. Mostly due to excessive operational costs and losses thru maintaining systems, cost of doing business etc. Otherwise they were the best. Very sad to see them go.
Really sad to see a good company going bankrupt.
What about Maxeon???
You know I haven’t talked politics once this year. I just thought of it
PALMETTO #1 Ohio reps hit my line!
I’m in Ohio and interested. Who can I contact
@@Skinard14 Do yourself a big favor and stay away from them!
There is so much churn for the customer to digest. How much longer will TX allow net metering? How much longer will local installers be in business? Will the rebates go away after the next election if Trump wins? Lots of FUD right now.
Freedom?!? 👀
They had one of their closers pay for an entire roof . Insane. They do a bunch of add ons in the back end then take it from the rep.
🔥 Gibbs X Ellermets 🔥
I sell for Sunrun been in the industry 10 years. We were selling our fixed ppa at .33 per kwh and i would be competing at Sunpowers .11 per kwh. Now it makes sense the price difference. Mind you the utility is charging .50ish per kwh in this market im speaking of. The margin exists for the company to prosper and the customer to still benefit. Bye bye Sunpower.
Bro sun power are panel manufacturers. Sales companies are still using the same PPA lease programs you’re using.
Amazing they are still selling stock, should be halted
Wtf I just moved to freedom yesterday
No one is talking about sunpowers' main source of income....new homes....sunpower still offers lease and ppa's to new home customers. Retro installation was not and never was sunpowers bread and butter.
Sunpower has 80 to 85% market capture in the new homes sector.
Sunpowers' new homes channel always met forecast and had to subsidize the rest of the company.
All these experts fail to see the whole picture. Sunpower actually made a lot of moves to be cash flow positive. I mean, you lay off over 1000 people, and that is a lot of overhead to move off the balance sheet.
Dig deeper, please, and don't make sweeping statements.
12:41 WHAT‼️ I work for Sunrun and you are so wrong about Sunrun being broke. Sunrun is wayyyyyyyy bigger than Nivio. How many installs does Nivio do in a month? How many times do you pull permits? How many TOTAL installs has Nivio/Lumio done so far? You’re not even in CA. Nivio is not in California because you can’t compete here. GTFOH‼️
You’re missing the point my brother. Used to work for SunRun as well and I get where you’re coming from, they make you think they’re the best. And they definitely have a good product don’t get me wrong! But the issue is PPA/Leases accrue a lot of debt for companies, and when you take a company like SunRun who gives out hella free trips, pays these big commissions, incentives left and right, they’re spending a ton of money they don’t have. I’m sure they’ll be fine in the long run, but in the current moment, yeah they’re definitely broke.
I’ll rather work here in my local Texas solar company with great local reviews than work for a company trying to go big with a stick at the bottom holding up the entire company
What a load...😂😂😂
You’re broke
This guys opinion is all solar companies suck except mine. Mines the best lol
Good thing I took my money out the company before all this happened 😂😂
The claims that Freedom took money from its dealers are unsubstantiated and incorrect. If you’re going to get on a podcast, tell the truth.