North Carolina attorney general seeks loan halts for customers of bankrupt solar company

North Carolina Attorney General Josh Stein on Tuesday asked lenders to suspend payments and interest for customers who took out loans to buy uninstalled or incomplete solar energy systems from a company which filed for bankruptcy on October 7.

The application is for loans for panels installed by Mooresville-based Pink Energy, formerly known as Power Home Solar.

Stein and Kentucky Attorney General Daniel Cameron led a group of nine state AGs who made the request by letter to Dividend Solar Finance, GoodLeap, Cross River Bank, Sunlight Financial and Solar Mosaic.

“Pink Energy has failed to deliver what it promised to its customers, and now those customers have to pay for a system that doesn’t work,” Attorney General Josh Stein said. “As I continue my investigation of Pink Energy, I ask these lenders to do the right thing and help ease some of the financial burdens faced by Pink Energy customers.”

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According to the attorneys general’s letter, many customer complaints allege that Pink Energy made “misrepresentations regarding system capabilities and planned electricity bill reductions.”

Pink Energy also misrepresented customer eligibility for state or federal tax credits that could help repay loans, officials said.

“Now many consumers are in dire financial straits and facing increased monthly payments with no tax credit that would have made their loan repayments more affordable,” Stein’s office said Tuesday.

The attorneys general of Illinois, Indiana, Michigan, Pennsylvania, South Carolina, Tennessee and Virginia also signed the letter.

John Deem covers climate change and the environment in the Triad and Northwestern North Carolina. Her work is supported by a grant from the 1Earth Fund and the Z. Smith Reynolds Foundation.


Denise W. Whigham