Is Momentum Solar Legit?

Momentum Solar is a residential solar panel installation company founded in 2009 and headquartered in South Plainfield, New Jersey. In recent years, Momentum Solar has expanded rapidly across multiple states and grown to become one of the largest residential solar providers in the U.S.

However, Momentum Solar’s quick growth and success has also prompted questions around the legitimacy of their business practices. Some have accused the company of using overly aggressive sales tactics or misrepresenting information to customers. There have also been concerns raised about the quality of their installations and customer service.

In this article, we will take an in-depth look at Momentum Solar to understand whether the available information supports or refutes claims about the legitimacy of this company.

Table of Contents

Company History

Momentum Solar was founded in 2009 by solar entrepreneur Cameron Christensen who currently serves as the company’s President. According to https://solartribune.com/solar-companies/momentum-solar/, Momentum Solar “operated out of a basement office and Christensen’s own home in Pine Brook, N.J. Before launching Momentum, Christensen gained experience in solar sales and installation with SunRun Inc. and spent time installing solar panels on Long Island after college.”

The company is headquartered in Metuchen, New Jersey. As reported by https://www.mycentraljersey.com/story/news/local/middlesex-county/2017/01/01/imagine-momentum-solar-metuchen/95968088/, Momentum Solar CEO Arthur Souritzidis has helped transform the company since taking over leadership in 2014.

Services Offered

Momentum Solar primarily focuses on the sale, installation, and financing of residential solar systems, though they also service some commercial customers [1]. Their main offerings include:

Solar panel sale and installation – Momentum Solar will assess a home’s energy needs, design a custom solar system, procure high-quality equipment from top manufacturers like SunPower and LG, and manage the permitting and installation process.
Financing options – They provide multiple financing options including cash purchases, solar loans, and solar leases to help homeowners afford the upfront cost of solar panel systems.
Monitoring and maintenance – Momentum Solar provides ongoing remote monitoring and maintenance of installed solar systems to ensure optimal performance.

Battery storage – They offer solar battery options to store excess solar energy for use when solar panels aren’t actively generating power.

Overall, Momentum Solar aims to make the process of going solar as easy as possible for homeowners by providing turnkey solar services from initial consultation through post-installation support [2].

Markets Served

Momentum Solar operates in several states across the United States, primarily on the east and west coasts. According to their website, the markets Momentum Solar serves include:

New Jersey, New York, California, Florida, Texas, Connecticut, Pennsylvania, Arizona, Nevada, and Massachusetts.

They focus heavily on the east coast markets of New Jersey and New York, but have expanded to several other states, totaling 10 states where they operate as of 2021. One source notes they have a particularly strong presence in the Northeast U.S. and in California.

Reviews and Reputation

Momentum Solar has received mixed reviews from customers. According to the Better Business Bureau, Momentum Solar currently holds an F rating with over 130 customer complaints in the last 3 years (source). Many complaints mention high pressure sales tactics, poor communication, and unsatisfactory installations.

On SolarReviews.com, Momentum Solar has 1 out of 5 stars based on over 100 reviews (source). Negative reviews cite issues with sales practices, scheduling, faulty installations, and very poor customer service. Some customers claimed Momentum Solar installed defective or underperforming solar panel systems.

While Momentum Solar doesn’t appear to have any major lawsuits against them, they have accumulated concerning amounts of complaints across review sites. The company does not hold any major solar industry certifications or awards. Based on reviews, Momentum Solar has built a negative reputation for high-pressure sales, poor installation quality, and terrible customer service.

Pricing and Contracts

Momentum Solar offers solar panel installations through different financing options, including cash purchases, solar loans, and solar leases and PPAs (power purchase agreements). According to their website, Momentum Solar provides “bottom-line pricing” with “no hidden fees or surprises” (https://www.momentumsolar.com/solar-agreement/).

Their standard solar PPA contract terms are 20 years with a production guarantee, 0% escalator, and includes monitoring, maintenance, repairs, and insurance (https://www.momentumsolar.com/solar-ppa/). Customers own the renewable energy credits. There is a fee if the PPA contract is canceled before the term ends.

Momentum Solar’s website emphasizes transparency in their sales process and contract terms. They aim to fully explain all agreements before signing. Their terms and conditions indicate they do not engage in high-pressure or misleading sales tactics (https://www.momentumsolar.com/terms-conditions/). Overall, Momentum Solar’s pricing and contracts appear competitively priced and structured when compared to other major solar installation companies.

Solar Panel Quality

Momentum Solar primarily supplies solar panels from reputable brands like QCells, REC, Trina and Hyundai according to https://www.marketwatch.com/guides/solar/momentum-solar-reviews/. These are considered high-quality panels with long warranties. Most reviews indicate Momentum uses quality equipment despite being more competitively priced than some installers.

SolarReviews.com notes that Momentum Solar generally sources its solar panels and inverters from top manufacturers according to https://www.solarreviews.com/installers/momentum-solar-nj-reviews. They highlight the major brands used and do not raise any concerns about inferior equipment.

Industry experts seem to agree Momentum’s systems utilize quality components. As This Old House reports, Most reviews do not mention issues with Momentum’s equipment according to https://www.thisoldhouse.com/solar-alternative-energy/reviews/momentum-solar. There are few complaints about panel or inverter problems after installation.

Financial Health

Momentum Solar is a private company that does not publicly disclose its financials. However, financial data sites estimate the company’s annual revenue to be around $400 million per year (https://growjo.com/company/Momentum_Solar). The company received $4.1 million in venture funding in 2018, indicating ongoing investor interest.

While specific financial metrics are not available since Momentum Solar is privately held, the company seems to be on a strong growth trajectory. According to Crunchbase, Momentum Solar is “one of the fastest growing solar companies in the nation” (https://www.crunchbase.com/organization/momentum-solar/company_financials). The company’s estimated revenue growth and ability to attract venture capital funding point to a healthy financial outlook.

Overall, while detailed financials are not disclosed, Momentum Solar appears to be a well-funded, high-growth private company in the solar installation space. The company’s rapid expansion and investor backing provide signals that its financial health is strong despite being privately held.

Comparison to Competitors

Momentum Solar competes against other major solar installers like Tesla, Sunrun, and SunPower. When it comes to pricing, reviews show that Momentum Solar is competitive, with total costs for similar sized systems falling in the same range as competitors (Compare Sunrun vs. Momentum Solar (2024)).

In terms of quality, Momentum Solar uses high-efficiency panels and microinverters, which helps maximize energy production (Compare Sunrun vs. Momentum Solar (2024)). Reviews indicate their system components are comparable or better than competitors like Tesla and Sunrun.

For customer satisfaction, Momentum Solar maintains high ratings on review sites like SolarReviews and Trustpilot. According to third-party analysis, Momentum Solar’s customer service and installation quality matches or exceeds competitors (Tesla Solar Vs. Momentum Solar: Which Company Is Better?). When compared head-to-head, Momentum Solar tends to edge out Sunrun and Tesla on customer satisfaction metrics.

Conclusion

Based on the factors discussed, Momentum Solar appears to be a legitimate and reputable solar company. They have been in business for over 10 years, offer comprehensive solar services, have achieved high customer satisfaction ratings, and use quality solar equipment. Their pricing and contracts seem fair and transparent compared to competitors.

The main downsides seem to be some inconsistent reviews regarding customer service follow-up and sporadic complaints about sales tactics being too aggressive. However, most solar companies will have at least some negative reviews in these areas.

Overall, Momentum Solar seems to be a good option for residential solar panel installation. They are an established national company with experience and positive feedback on their work. I would recommend getting quotes from 2-3 other highly rated local installers for comparison, but Momentum Solar should definitely be on the list of companies to strongly consider.