As many of you have heard, the valley’s largest solar company announced on Friday that they are temporarily closing their doors. Sadly, this is neither the first nor will it be the last solar company to close its doors as a result of the net metering rules that the CPUC adopted in April of 2023, which have led to a reduction in statewide installations by over 70%. However, years ago we deliberately chose a very different business model than many of our competitors where the viability and health of our business were not dictated by any corporate overlords or the need to continue installations at an unsustainable pace.
Hot Purple Energy never wanted to be the biggest company out there, just the best. For that reason, we can assure all of our clients that we will continue to serve as the desert’s premier solar and battery contractor for decades to come. We have no debt and a robust book of business from our residential and new construction divisions; in fact, our financial picture is such that we have been quietly financing a small portion of our jobs in-house.
We have nothing but empathy for the clients, employees, and their families who have been impacted by these recent developments, for whom this must have come as a great shock. The picture is still very murky as to who we can help and who we cannot, but we will do our best to help anyone we can without sacrificing our commitment and promises to our existing client base.