Next Step Living Out of Business - What does this Mean for Homeowners?

Posted by: PatPrince317 // Lifelong Learner and Green Energy Aficionado

Next Step Living Out of Business - What does this Mean for Homeowners?

Next Step Living announced that it would cease its operations on March 18, after running out of cash. After starting out as an energy auditing agency in 2008, the company has grown significantly, thanks to an ambitious sales team and VC funding. At one point, NSL had about 800 employees.

Over the years NSL increased the scope of their business to include solar, insulation, window, and HVAC upgrades. The reason for their demise is attributed to growing pains as a result of rapid expansion and moving into industries that have low margins and require a lot of cash, like solar.
Even after selling off their solar division to NRG in 2015, and putting focus back into their core competency – energy audits, VCs saw the writing on the wall and pulled funds out of the business.

Homeowners with concerns are advised to call MassSave at 877-315-1941 for National Grid and Eversource customers or 800-232-0120 for Columbia Gas Customers. Clients can also check with the contractors who worked on their homes, as NSL provided the financing while using subcontractors for their energy efficiency upgrades.

Homeowners who were planning to use NSL to perform energy audits or help finance upgrades in their home should not have problems finding another company approved by MassSave. Perhaps one of the other reason for NSL’s demise is that the MassSave contractors who used to do the work NSL offered them are now utilizing the loan themselves.

Using contractors directly may help ensure quality work and more accountability. This is because they are not running on the smaller margins they would have been, had they been working for NSL. Be sure to check references and make sure they can help with MassSave financing.