Advocates Applaud New Materials about Financing Solar Projects and Avoiding Scams and Look Forward to Robust Action from Federal Agencies to Protect Consumers
WASHINGTON – Yesterday, the U.S. Department of the Treasury released a series of brief guides to help consumers understand the marketplace for solar energy products and financing. At the same time, the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) released resources to guide consumers and businesses as they enter into clean energy agreements, and the CFPB also released a report on residential solar sales abuses. Advocates with the National Consumer Law Center (NCLC) applaud this coordinated agency effort to help consumers navigate the complicated marketplace of products and financing options and look forward to robust action on consumer complaints to make the solar marketplace safer for consumers.
“There is growing consumer interest in solar power and multiple options for financing the switch to solar. However, solar financing transactions are complicated and that opens the door for bad actors to harm consumers,” said Olivia Wein, senior attorney at the National Consumer Law Center. “We hope that these guides will help consumers navigate the solar marketplace more successfully and empower them to file complaints and seek redress if things go wrong. We also applaud the CFPB’s report providing an overview on residential solar sales and highlighting markups and confusing terms. As consumer education alone is not enough to fix a dangerous marketplace, strong enforcement and regulations will also play a critical role.”
Consumers who encounter a problem with a solar business should file a complaint with the Federal Trade Commission (FTC). Consumers who experience problems with solar financial products or services should file a complaint with the Consumer Financial Protection Bureau (CFPB).
See the Treasury Consumer Advisories and Educational Resources here:
- Consumer Solar Awareness Website
- Solar Consumer Advisory
- Before You Buy Solar Panels
- Before You Sign a Solar Lease
- Before You Sign a Power Purchase Agreement
- Before You Sign a Solar Subscription
See the FTC resources here:
- Consumer: How To Avoid Getting Burned
- Business: Don’t Waste Your Energy On a Solar Scam
See the CFPB resources here:
The National Consumer Law Center also offers resources to help consumers and advocates avoid scams when financing energy improvements and to promote consumer protections in solar and other green lending. They include:
Issue Brief: Rooftop Solar: Consumer Protection Recommendations
Report: Community Solar: Expanding Access and Safeguarding Low-Income Families
Coalition Letter: Equitable and Just Green Lending Starts with Strong Consumer Protections
Book Chapter: What’s Possible: Investing NOW for Prosperous, Sustainable Neighborhoods,
Issue Brief: PACE Loans: State and Local Consumer Protection Recommendations
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