PVTIME – Recently, Titan Solar Power, a US residential solar installer, shut down its business due to failed negotiations with a potential buyer of the company, according to an alleged email sent to employees.
Titan Solar Power was founded in Arizona in 2013, and was once ranked as the top sixth photovoltaic company in the US. The company is said to have been in negotiations with a potential buyer to acquire the company over the past six months, with new sales channels for Titan Solar Power to take it in a new direction.
However, the main reason for Titan’s closure was that it relied too heavily on its distributors or third party resellers, which resulted in high communication costs and poor user experience, putting it at a competitive disadvantage.
Titan might have had a chance of a comeback if it had been able to change this with the customers and industry reputation it had built up. But recent US trade policy is preventing it from doing so. The United States has severely restricted imports of PV products, but local production capacity is struggling to meet market demand, resulting in high prices for its PV products. Especially residential PV, in the already high cost of hardware and a variety of strict regulations, the total installation cost is even more than twice that of other countries, it is difficult to attract investors. Titan completely out of survival.
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