Miyares calls for a freeze on loan payments for Pink Energy projects

Republican Attorney General Jason Miyares joined a coalition of states in calling on five solar loan companies to freeze loan payments and accrued interest for customers who had installed Pink Energy solar systems but did not receive a working system.

Pink Energy, which also does business as Power Home Solar, filed for bankruptcy in North Carolina in October.

“Many Virginians were caught off guard by Pink Energy’s sudden bankruptcy,” Miyares said in a statement. “By joining this coalition, we’re trying to ease the pressure on Virginians’ wallets while we actively investigate the situation.”

Miyares said his office launched an investigation into the company after receiving complaints from Virginia residents about alleged deceptive business practices. Before the investigation was complete, the company filed for bankruptcy.

in the a letter dated November 22ndAttorneys general — a bipartisan group from Kentucky, Illinois, Indiana, Michigan, North Carolina, Pennsylvania, South Carolina and Tennessee — say many of the complaints they’ve received allege that Pink Energy “misrepresented the capabilities of the systems.” and the expected electricity bill reduction made.”

Consumers have been fooled into believing they are “making environmentally friendly and financially prudent choices by purchasing a solar panel from Pink” and are now making loan payments for an underperforming or malfunctioning solar panel on top of their monthly utility bills, the attorneys wrote to General.

Predatory solar installers could sow distrust, proponents fear

In addition, they said the company allegedly misrepresented customers’ eligibility to use state or federal tax credits.

In conversation with WAVY, one customer said he was told his electric bill would drop by $14 a month. Pink Energy told the station complaints that they stemmed from faulty Generac equipment, which said problems could arise if product guidelines were not followed.

The Nov. 22 letter urged the lending companies, which include Dividend Solar Finance, GoodLeap, Cross Riverbank, Sunlight Financial and Solar Mosaic, to suspend consumer payment obligations “pending, among other things, an investigation into individual consumer complaints being completed.” can”. Help.

Some solar advocates have expressed concerns about a surge predatory solar installers in Virginia following the relaxation of residential solar laws in 2020. Other states have introduced consumer protections targeting solar customers, including a Bill of Rights for Renewable Energy this requires sales contract information.