Frequently Asked Questions

Who can trade on the exchange?

PennyWatt is a business-to-business exchange for buyers and sellers of PV modules and inverters. Anyone can see pricing but only members of PennyWatt can make a purchase or sale. Membership is free. Sellers qualify in order to offer solar products for sale by applying and interviewing with PennyWatt. We take this very seriously and if we do not know you personally you cannot list on this exchange.

How much does it cost to use PennyWatt?

PennyWatt is free to use. There are no listing fees and no membership fees. PennyWatt makes its money by charging the seller a small commission on every sale made on the site. Therefore, the prices posted include our small commission. Any price posted is the price the buyer will pay. The only additional costs are for freight and insurance.

What happens with shipping damage?

This is a tricky subject for anyone who knows anything about the solar industry. It is the responsibility of the seller to ship the solar products in a) the original manufacturer's pallet packaging or b) secure and safe new packaging. Our preference is for seller's to ship only full pallets in original manufacturer's packaging. Conversely it is also the responsibility of the Buyer to make adequate preparations to receive the product on site with minimal risk to damage. An example would be expecting & paying for lift gates and residential delivery fees to minimize the handling and potential risk to glass modules during delivery. The simple fact is that manufacturers experience little shipping damage during transportation, most damage happens in the warehouse or during loading or unloading. Whoever pays for insurance has the legal responsibility for filing a claim. For that reason we suggest that the Seller's pay for freight insurance. Take photos of your deliveries and check for damage as soon as the truck arrives. Don't sign for the product until you are certain of no damage. Or sign the Bill of Lading, "subject to inspection". See the legal disclaimer, PennyWatt in no way takes responsibility for damage during shipping, but we will absolutely work with you to seek a satisfactory solution and we want you to come back and purchase more product because you know that we take care of our business.

Who is offering/selling the products listed on this exchange?

The offers on this exchange originate from a variety of sources such as manufacturers, wholesalers, distributors, project developers, and installers. The difference with PennyWatt is that we personally qualify each and every seller, we are solar professionals who have worked in the US solar industry and we are going to manage this service with a strict no nonsense policy.

How do I register?

You can register by clicking on the "Create Account" link on the home page. We require that you complete the entire registration form accurately. If any of the requested entry fields are not clear, or you feel your answer is inadequate, please use the comment section at the end of the form to explain further. We screen all new members to ensure that they are active in the PV installation, distribution, and/or manufacturing business. If you have additional questions, please contact us and one of our representatives will be happy to contact you directly.

Do I need any additional documents in order to register?

We request that you supply us with your company's Employer Identification Number (EIN) as part of the screening process. This helps us ensure that all members are registered businesses capable of actually buying and selling on our site. We try to make the registration process as easy as possible while providing a secure and trustworthy trading platform. Thank you for your understanding.

How is my privacy protected?

PennyWatt does not sell or share your information with affiliates. The only time your information is shared is after you have requested to during the transaction process. Once a transaction has been brokered, contact information of the two negotiating parties is exchanged in order to complete the transaction. Your information will never be given to a third party outside of the transaction process.

How does PennyWatt maintain its role as a middleman?

Included in PennyWatt's registration form is a noncircumvent agreement that protects PennyWatt's role in bridging the purchase and sale of a particular transaction. Our goal is to marry very low transactional margins together with escrow account purchasing and sale security that keeps you coming back again and again for safe, secure and extremely competitive deals.

How we approach Transaction Security?

Every transaction initiated on PennyWatt is conducted using Escrow.com. After the buyer chooses to purchase equipment on PennyWatt, the buyer deposits funds into an escrow account with Escrow.com. Once PennyWatt confirms that the money is deposited, the seller ships the equipment. When the products are delivered the buyer will have 48 hours to inspect the equipment for damage. Money is transferred from the escrow account to the Seller, unless the Buyer triggers a damage or shipping claim.

How do I ensure that my offer will be posted on PennyWatt?

Please send us the manufacturer's data sheet of the specific product you are offering and double check to make sure that you are listing this item for sale with 100% accuracy. Handling of the warranty needs to be clearly understood. (In cases of uncertainty a warranty certificate from the manufacturer may be requested)

How do I get more information about a listing?

Send Pennywatt an email at info@pennywatt.com and make sure to give us the ID# for this listing. Modules must meet UL and other relevant certifications (CEC for California, CSA/cUL and CETL for Ontario). Please have these certifications available. We will not sell any piece of equipment without a UL certification and a CEC listing. Particularly in the case of larger transactions, flash data or other proof of modules tolerance are available on request and can be stipulated in the Escrow agreement. Payment conditions should be clearly formulated. In the case that pre-payment is required, some form of collateral or security should be offered to the buyer.

Suggestions for Sellers:

  • List your slow moving or excess inventory with the most aggressive pricing you feel you can afford in order to move this inventory quickly. We are not asking you to lose money, but its like selling a house. Many of us in the industry are dealing with how quickly the price of modules changes overnight. Most likely if you are sitting on inventory from a few months ago, those modules cost you 10-15% more than the same product would cost you today. Your modules are not going to move unless they are priced below current solar market pricing for that volume and wattage type.
  • We recommend that you only sell product that is still in the original manufacturer's packaging and in full pallet increments. We want to avoid the possibility of freight damage during shipping.
  • We recommend that you quote freight and insurance to a Buyer's destination site. Your job is to complete the sale to a buyer. PennyWatt's responsibility is to make the introduction, the seller's job is to make the sale a positive experience for the Buyer, and to sell your slow moving excess inventory.
  • We recommend that you use standard shipping terms.