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