Tuesday, North Carolina Attorney General Josh Stein along with several other state attorneys general called on five lending companies for Pink Energy to suspend loan payments and interest for customers.
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ABC11 first told you about Pink Energy--also known as Power Home Solar--in September. During our investigation Pink Energy unexpectedly closed up shop and declared bankruptcy after its customers complained that their solar systems weren't installed correctly and didn't work.
Pink Energy blames the problems on a supplier of parts for their systems. Even though the company closed, its customers still have to make payments on their non-working solar systems.
After receiving more than 500 complaints on Pink Energy, Stein's office is investigating the company for allegedly violating consumer protection laws and sent this letter to Dividend Solar Finance, GoodLeap, Cross River Bank, Sunlight Financial and Solar Mosaic asking them to assist Pink Energy customers who are experiencing other functionality and installation issues.
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"Pink Energy failed to deliver what it promised customers, and now these customers are on the hook for payments for a system that doesn't work," said Attorney General Josh Stein. "As I continue my investigation into Pink Energy, I'm asking these lenders to do the right thing and help lessen some of the financial burdens that Pink Energy customers are facing."
Attorney General Stein is joined in sending this letter by the attorney generals of Kentucky, Illinois, Indiana, Michigan, Pennsylvania, South Carolina, Tennessee and Virginia.
The coalition of attorneys general also notes that consumers have alleged that Pink Energy misrepresented consumers' eligibility for state or federal tax credits that could be used to satisfy the loan agreements with these solar lenders. Now, many consumers are in a precarious financial position and facing increased monthly payments without a tax credit that would have made their loan payments more affordable.
Pink Energy is going through the bankruptcy courts now.