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How Biden will shape the energy industry, and what’s next for oil after a tumultuous few weeks


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Hello, and happy Friday! 

I guess a few things happened in the last week.

Major news networks projected Joe Biden will be the next president. 
Pfizer revealed successful results from its coronavirus vaccine trial, sending oil and energy stocks surging (Peloton and other stay-at-home stocks crashed …). 
US coronavirus cases shattered daily records (Iowa, my home state, I’m looking at you.)
My puppy gained what looks like 10 pounds because he’s a growing boy and maybe I fed him too many treats. 

We also published our investigation into the energy company Powerhome Solar. Let’s start there. 

Investigation: How a top energy firm uses misleading tactics to sell costly solar-energy systems, according to insiders and leaked documents

Buying solar panels for your home comes with all kinds of perks, from access to clean electricity to power during blackouts.

That doesn’t mean it’s always a good deal. 

Our investigation into the company Powerhome Solar — among the nation’s fastest-growing energy firms — suggests it uses misleading tactics to sell rooftop solar panels and batteries that cost double the industry average. 

The company uses misleading ads on Facebook to generate leads, or potential customers. Some of the ads imply there’s a government solar stimulus program that doesn’t exist. 
Sales reps then visit those potential customers in their homes and sometimes make statements about Powerhome’s products that aren’t true, our investigation suggests. 
Some homeowners end up stuck with expensive systems that don’t perform as the company promised. 
I really encourage you to read the whole story, found here. It’s based on conversations with a dozen current and former employees, customers, industry experts, and a review of legal records and internal company files we obtained. 

The context: The solar industry is complicated and the value of a rooftop array varies dramatically from homeowner to homeowner. 

For example, not everyone will qualify for a generous tax credit.
That makes the industry ripe for sales practices that may deceive consumers. 
We previously reported that misleading solar ads were spreading on Facebook during the pandemic, which drove up online lead generation. 

What the company said: “Powerhome Solar’s sales and marketing teams are provided comprehensive training (and continuing training and education) as to proper execution of their responsibilities, and POWERHOME SOLAR has robust compliance protocols and policies to ensure that all their efforts comply with applicable requirements.”

More of their comments can be found here. 

Do you have information about Powerhome Solar or questions about our reporting? You can reach me at bjones@buisnessinsider.com. 

The 4 people Biden hired to dismantle Trump’s fossil-fuel agenda 

President-elect Joe Biden …read more

Source:: Business Insider

      

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