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Dividend Solar

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6.3

Overall Score

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LAST UPDATED: June 29th, 2023

Headquartered in San Francisco, California, Dividend Solar is a relatively new company in the solar energy industry. Unlike many other solar energy businesses, however, Dividend Solar sets itself apart by specializing in solar financing and loans.

The solar power company stands by its decision to offer outright purchase and loan payment options to residential customers because there are certain advantages that come along with purchasing a system, such as tax credits and rebates.

Read on to discover the pros and cons about Dividend Solar, as well as view Dividend Solar reviews from real customers.

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The Good

  • $0 Down EmpowerLoan and Dividend PACE Loans
  • Certified Solar Installers
  • Lengthy Warranties
  • Real-Time Monitoring

$0 Down EmpowerLoan and Dividend PACE Loans

Possibly the most obvious advantage of working with Dividend Solar is that the company specializes in residential solar loans, so it's a great option for homeowners who would rather make an investment in solar panels than lease them.

Dividend Solar offers two types of loans: EmpowerLoan and PACE loans. Both options are $0 down; can be paid off early; and include certified installers, a performance guarantee, and a warranty.

In addition to these benefits, customers are also eligible for any available federal and state tax credits, rebates, and other renewable energy incentives.

Certified Solar Installers

It bodes well for customers that Dividend Solar requires its solar installation contractors to have professional licensing and certifications (NABCEP in particular).

Some customers might hesitate to work with a company that outsources work to third-party contractors, but the fact that Dividend Solar requires these qualifications increases the likelihood that customers will receive a high-quality installation and be satisfied with the work done on their home.

Lengthy Warranties

Dividend Solar offers a 25-year warranty that covers repairs and defects, performance, and maintenance services through its installation companies. The company also offers a 20-year workmanship warranty that covers labor.

Real-Time Monitoring

Consumers who purchase solar panels through Dividend Solar have the ability to monitor the progress and performance of their panels in real time. With this technology, customers can also see how much clean energy their system is producing, how much money the panels are saving them, and the effect that their solar PV system is having on the environment.

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The Bad

  • No Lease or PPA Options
  • Focus on Financing
  • Outsourced Installations
  • Limited Experience in the Industry

No Lease or PPA Options

Dividend Solar does not offer leases or PPAs. The company's EmpowerLoan is a great product, but a lease or PPA may be a better fit for consumers who want to make the switch to clean energy but would prefer not to take on the responsibility that comes along with solar ownership.

Focus on Financing

Dividend Solar places the majority of its focus on providing loans through its financial product, the EmpowerLoan. This means that the company has more experience helping customers get financing than actually installing solar PV systems on homes.

Outsourced Installations

Another potential drawback of Dividend Solar is that the company hires local contractors from its network to perform installations for solar PV systems. Despite the qualifications these contractors must meet, some customers prefer not to work with companies that outsource installations because this practice can sometimes result in miscommunication or lack of quality.

Limited Experience in the Industry

Dividend Solar was founded in 2013. While the solar industry as a whole is relatively new, many solar companies have been around for at least twice as long as Dividend Solar. This means Dividend Solar has had less time to gain experience and prove itself as a solid company within the industry.

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The Bottom Line

Dividend Solar has many advantages to offer customers who are interested in renewable energy and solar power as an investment. The company specializes in residential solar loans and PACE financing, is readily available for homeowners in the many states around the country, and assembled a great network of people who can provide financial support and reliable labor.

However, Dividend Solar is primarily a loan provider, so if you are looking for a lease or PPA, you won't have much luck with this company. Also, Dividend Solar does not install solar energy systems itself, so if you choose to work with this company, keep in mind that your solar installation will be outsourced to a third-party contractor.

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Star Rating

4.0

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293 Reviews

Review Breakdown

5 grade

58%

4 grade

17%

3 grade

5%

2 grade

5%

1 grade

15%

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Mr & MRS Pendergraft Rockledge, FL

We have to have a new ROOF An when we had the Solar put on I ask how it would work to have the Solar taken down for the new Roof An was told it was no problem it would not cost more than $500.00 or so to take down an replace after the new Roof .Well I have Spoke to RICKY with SEM twice An ask him to tell me how much and I have left four message An it has been a week An I have not heard from him or Any one so We are really up set .We are just about to say I have had I with them .There is not reason I have not received a answer .No one has called us in over a week An I am feed up.We have about had it with all of them . MR &MRS Pendergraft

5 years ago

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Samuel Amos Houston, TX

I haven't had the system for long enough, right now it doesn't even seem to be working. I had someone come out to look at my bill and he didn't think it was working. In fact, most of the times I don't even get a bill. When I do get one, it's already past due. I've been trying to get somebody to correct that for me, but communication is not really good.

5 years ago

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Timothy Axelsson Galloway, NJ

It took forever to set up the automatic debit thing. They kept calling me for the payment and I had to repeat to them that I was supposed to have the automatic payment system. They were very incompetent in that. In the end they finally got it working. The installation itself went well, but one of the guys stole my wife's sunglasses, which yeah they returned the next day. I also think their rate is too high, but I took it since it was tied to the 20 year maintenance program.

5 years ago

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Donald Sutton Grand Junction, CO

I didn't get information on a timely manner. When the installation happened it was all a little strange. Our house wasn't equipped well. I also had an issue with a payoff that I asked for. They send me the payoff value, and then they sent me a notice of what I owed for the next month. The payoff amount should have taken care of the bill since I had paid for the full amount...

5 years ago

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Rod Peikert Houston, TX

We financed our panels through Dividend a year and a half ago. 5.9%. I was very clear with the salesman that the panels payment has to basically cancel our electric bill if we are going to do this. They put a 61 panel array on our 2400 sqft house that is supposed to handle not only the house but the guest house and grounds as well. $65,000 It should be clicking credits left and right. This array should be rockin and it kinda does but it only lowered our electric bill by about half, so now we have gone from $335 a month pre panel electric bill to $335 for panels and an additional $100 to $200 a month electric bill that was supposed to be wiped out. We have talked to the installers, we have crawled all up in Green Mountains grid so to speak trying to find out where our money is going. Comes down to we don't have enough of "Their" panels to produce what was expected. 61 Panels.. Gets even better, Jan 1st our bill shoots up $150 a month because we did not give Dividend our tax return from last year, which we didn't know we were supposed to, and our return was not as much as they claimed it was supposed to be anyway so even if we had we would have had a bill increase. So now I have gone from $335 a month to between $600 and touching $700 a month. BUT Wait there's more. So we called Dividend to find out what the pay off balance is so we can try to find somewhere else to refinance these things at a lower interest rate which is not rendering any results yet, and after 18 months of on time payments, we have paid a whopping $150 in principle so refinancing we are starting all over again. The cherry on top is we talked to the install company to see if they had any pull or suggestions and basically we are totally screwed. The company that installed them no longer even does business with Dividend. Now some people have had great experiences with them according to some of the reviews but be careful. Our fault was trusting what we were told instead of doing any comparison shopping. If we had we could have avoided all this.

2 years ago

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Reply from Dividend Solar

Hi Rod, we are sorry to hear about your experience and understand how this situation could be frustrating. Our goal is to provide our customers with the best possible financing experience, and we are saddened to hear that this was not the case for you. It looks like we have tried to call you but have not been able to reach you. If you have any further questions or would like to discuss further, please call us back at 844.805.7100 and we will be happy to help. Thank you

Feb. 3rd, 2021

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Elizabeth Reed Buda, TX

Our experience with Dividend Solar (Green NRG) has been incredibly frustrating! We were promised that the solar panels would generate enough kWh to sell back and offset the cost. Not only has that NOT been the case, the solar panels barely generate enough to cover half of our consumption, but the equipment to deliver surplus kWh back to electric company was not even installed! The real issue is I cannot contact ANYONE in the company! Either it goes straight to voicemail and their voicemail is full (including MAIN NUMBER!), your call is simply disconnected if you press 2 for existing customer, or it gets sent to a messaging service to leave a request for a call back which never happens. I have emailed multiple people, called every number I can find and even tried calling the finance department for the loan and after being on hold for 20 minutes...you guessed it, I got sent to voicemail. How can there be so many positive reviews for such terrible service? It’s starting to feel like once they got their commission from me, they disappeared!

4 years ago

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Reply from Dividend Solar

Thank you so much for your feedback, and we are very sorry you've had such a frustrating experience. This is certainly not the norm, and we will assist in every way way we can to find a solution. We'll have our customer success team reach out shortly.

Jun. 21st, 2019

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Paul Runge Moraga, CA

I would have rated them much higher (10?), but the outsourced installation, in our case, has proved to be seriously problematic. The problem revolves around an installer and system that does not measure up to its promised specifications for production. Dividend Solar seem to have worked diligently for many months to resolve the issues with the installer. They do not seem to be able to force/influence the installer at all. So it ( using outsourced installer) is a real problem for us that arguably could occur again for another customer. It's not for the want of trying. I believe Dividend Solar is still trying to resolve the issues, but it has been 1 year since we installed...

6 years ago

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ryanjaysf Ladera Ranch, CA

Representative sold this as a tax refund and not a tax credit. If you don’t owe taxes - you will never see the tax $ you’re supposed to pay Dividend Finance. Completely false advise we were given by the salesman. I’m holding out hope that Dividend will clear this up and I’m wrong, but everything I’m reading about solar tax credits are completely opposite to what I was told. I’m also not producing the energy promised and my “extra” balance from utility charges have increased every month. Not good...

3 years ago

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Reply from Dividend Solar

Hi Ryan, We are sorry to hear about your experience and understand how this could be frustrating. We would like to discuss this more with you offline and will be sending over a private message so we can get the best phone number to call you at. Thank you.

Jan. 28th, 2020

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June Collins Sun City, AZ

When the solar company we engaged submitted our loan request we were turned down even though my credit rating is 798. In 25 years, I have never had an overdue bill. Dividend would not take into account the income that my husband and I receive from England even though we provided them with written evidence of the income. We therefore engaged another solar company, and our loan went through without the need to provide proof of income, and the interest rate was much lower than Dividend. So, were were not so disappointed because we got a much better deal after all.

4 years ago

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Reply from Dividend Solar

Hi June, we are sorry that we were not able to work with each other this time but please do not hesitate to reach out to us in the future by calling 844.805.7100. Thank you.

Aug. 29th, 2019

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Paul Jacobsem Orlando, FL'

I had to keep running them down for status updates and the salesman didn't have business card nor valued our time, was in our home over 4 hours.

5 years ago

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Paid for something I didn't receive Lake Worth, FL

Never called me back charged for devices that never was installed called numerous times necer called me back

5 years ago

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James Moshier Santaquin, UT

We were originally impressed by the price and the salesman. However, after several dropped balls, we've had the system on the roof for 2 months and it's still not active.

5 years ago

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Anonymous Imperial, CA

So I chose them becuase they were on the top 5 solar companies in California, however, beyond initial telephone contact we have not had any more discussions.

5 years ago

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Tata Lexington, SC

I liked what I saw up to that point. As I learned and researched their guarantees and support my interest in them vanished. I could not recommend them.

5 years ago

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anonymous Swansea, MA'

Great until sale is made, then disappears when more questions arise

5 years ago

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bill Fort Worth, TX

Not positive. Seems like they were more interested in loans and financing than solar solutions

5 years ago