All employees have been let go, and the company is no longer operational.
The “FOX 2 Detroit” report follows below this article.
It’s been five months since Pink Energy, formally known as PowerHome Solar, garnered significant negative media attention.
Many of their customers have filed complaints after receiving residential solar systems that “fail to save them money.” Pink Energy’s past customers claim they still have to pay for electricity on top of pricy loan payments taken out for solar panels.
The solar solutions they were sold are not performing nearly as well as they were led to believe.
Many of Pink Energy’s customers were promised that their system costs would be reimbursed by federal tax credits.
When customers later discovered they had been misled and would not be receiving any federal tax credits, it was too late. They now face mounting debt for Pink Energy’s already installed, inefficient solar systems.
Currently, Jayson Waller, the CEO and founder of Pink Energy, is under investigation by the Michigan Attorney General’s office for an alleged violation of the Michigan Consumer Protection Act.
Customers were led to believe that despite Michigan’s frequent rainy, cloudy, foggy and snowy days, Pink Energy would be able to design a dependable residential solar system for them, capable of meeting all their power needs.
Waller admits his company was worth approximately USD 1 billion at the beginning of the year but is now only worth half. As a result, the company has had to close many of its offices and lay off a significant portion of its employees.
Waller Blames Generac
Two years ago, Pink Energy, PowerHome at the time, announced their partnership with Generac for backup solar batteries and parts.
Waller claims one of the parts, the Snap RS, was defective and that they’ve replaced 50,000 of them.
Waller believes that it was the failure of the Snap RS which resulted in the solar systems his company installed being inefficient because if one of the parts is down, Waller claims the system is only working at two-thirds of its potential.
Generac disagrees with an official statement from their Director of Marketing, Tami Kou, calling this a distraction. “We believe Pink Energy may be hoping to distract customers from the many complaints and allegations that reportedly have been levelled against them regarding poor installation and service, as well as public accounts of dubious marketing claims and sales tactics.”
With legal disputes currently underway, it could be months before a resolution is found.