Financial fraud by photovoltaic inverter companies

What's happening with solar panel fraud?

One recent case that has sent shockwaves through the industry involves Vision Solar suddenly shutting its doors,and leaving thousands stranded, while one of its lender, Sunlight Financial, filed for bankruptcy on October 30th of this year. Solar panel fraud often begins with breach of contract issues.

Does rooftop solar have a fraud problem?

Rooftop solar has a fraud problem. The industry is working to build back trust A crew installs a solar array on the roof of a home in Frankfort, Ky., in 2023. PHILADELPHIA — The solar power industry is booming and that growth helps the world meet its climate goals by replacing fossil fuels.

What happens if you finance a fraudulent solar project?

Lenders may face legal consequences for their role in financing alleged fraudulent solar ventures, adding financial losses to the growing list of victims, and attempting to collect debts from contracts that were under, or never performed.

Who is liable for solar panel fraud?

Solar panel fraud doesn’t stop with the companies directly involved; lenders also find themselves liable. Sunlight Financial, Vision Solar’s lender, recently declared bankruptcy, leaving consumers in a precarious situation.

Was DC Solar a scam?

It was the largest criminal fraud scheme in the history of the district, which includes Sacramento and Fresno. According to prosecutors, from 2011 to 2018, DC Solar manufactured mobile solar generator units and, because they used solar energy, buyers could obtain federal tax credits. The reality was much different, authorities say.

Why are prosecutors investigating rooftop solar?

Across the country, prosecutors are investigating high-pressure sales tactics and misleading financing arrangements. Some customers say they were victims of fraud and forgery. This threatens rooftop solar’s impressive momentum. Now, some solar companies are working to repair the industry’s reputation.