Following news that Titan Solar is closing its doors after failing to secure a buyer for the company, TIME spoke to Monalee co-founder and CEO, Walid Halty, for insight into contributing factors leading to these closures.
BOSTON, Aug. 1, 2024 /PRNewswire-PRWeb/ — Following news that Titan Solar is closing its doors after failing to secure a buyer for the company, TIME released an article covering the current state of the solar industry. According to Solar Insure, 16 major solar outfits have filed for bankruptcy in 2023 and 2024, with Titan among the heavy hitters.
TIME spoke to Monalee co-founder and CEO, Walid Halty, for insight into contributing factors leading to these closures. Ahead of founding Monalee, Halty worked for one of the nation’s leading energy companies and was ranked in the top 1% of sales managers. While there, he witnessed firsthand the high costs of going solar for most U.S. homeowners due to offline processes and huge sales commissions.
Looking back on his experience in solar sales, Halty said that many salespeople operated with little oversight and sometimes made promises the company couldn’t keep. He explained how salespeople could sell solar for as high as the homeowner would say yes to. He shared, “It’s almost as if you get a $20,000 car and the dealership can sell it at $40,000 if they want.”
Following his interview with TIME, Halty shared more about his years in solar sales during an episode of NPR’s Planet Money. While Halty proved exceptionally talented in sales, he ultimately chose to walk away from the millions of dollars in potential commission and instead, start his own solar company that eliminates commission-based salespeople altogether.
“It’s important as an industry that we start really challenging the status quo. It’s easy to keep doing the same old thing over and over again. But when it’s yielding unhappy customers, negative reviews, high cancellation rates, we need to rethink how we build with first principles. We have a long way to go, but I’m pleased we’re taking initiative on that at Monalee,” explains Halty.
Monalee is currently available in 24 US states, with ten more to be added by end of year. Taking a digital-first approach to selling and installing home solar systems, Monalee’s patent-pending technology uses millions of data points to digitize and ‘shopify’ the buying experience based on customers’ homes and needs. By leveraging AI and removing commission-based salespeople from the process, Monalee is able to secure the same solar panel systems for homeowners faster–and at half the price–as other leading solar companies.
Media Contact
Walid Halty, Monalee, 1 650-899-8727, pr@monalee.co, https://monalee.co/
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SOURCE Monalee
