Transaction Security

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.