March 9 (Renewables Now) - US residential solar company Vivint Solar (NYSE:VSLR) has been accused by the New Mexico Attorney General’s Office of conducting unfair sales practices.
The company is now involved in a legal case in the New Mexico state court in Bernalillo County, following a complaint filed on Thursday.
Vivint Solar offers its clients 20-year contracts, or power purchase agreements (PPAs), with escalating tariffs for the power generated by their home photovoltaic (PV) arrays. The company is being accused of using high pressure sales techniques and procedures to mislead consumers into believing that these PPAs would save them substantial amounts of money. The lawsuit also says Vivint’s sales model allows sales managers to “conceal or omit” the fact that soon after entering into a contract and the installation of a solar system, Vivint will file a UCC Statement or a fixture filing in the customer’s home’s real property records, identifying the consumer as a debtor, “thereby clouding the consumer’s real property title”.
Earlier this week, Vivint Solar guided for solar systems installations of about 40 MW in January-March 2018. It installed around 45 MW of in the preceding three months.
(USD 1.0 = EUR 0.812)