Our Valley of the Sun has no shortage of sun — and no shortage of solar companies. And that latter fact is, actually, what prompted Justin Thorstad and Nicholas Baken to co-found NYFTY Solar, a solar energy systems broker for residential and commercial customers.
“We (NYFTY Solar) educate the consumer, empowering them to make better-informed decisions. Paying cash is always the most cost-effective and we offer 100% financing. When a homeowner purchases a system with cash or financing, meets their energy consumption needs, reduces their monthly energy bill, and gets a 30% tax credit, we call that a win!” says Baken, explaining their impetus had been seeing “good people being taken advantage of.” He brings to the endeavor more than two decades’ experience in digital marketing, sales and technology services.
Thorstad’s experience as a REALTOR® and owner of a real estate brokerage had made him witness many times over, he says, to homeowners who want to sell their homes but have an over-improved and over-sold leased solar system which has monthly payments that increase every year. “Many sellers with high monthly payments due to leased systems that are larger than necessary end up having to pay off the system at closing or, at minimum, issuing the buyer a credit for at least 50% of the lease balance. This comes out of the seller’s proceeds from the sale. The 30% tax credit goes straight to the leasing company, not the homeowner.”
The two men founded NYFTY Solar in December 2022. Shares Thorstad, “As with any startup company, it always takes far more time and effort than anticipated. The path to success is often longer and bumpier than expected. We meet these challenges by having a passion for our vision and a ‘no quit’ attitude driving our mission.”
