Solar Loan Complaints: GoodLeap, Dividend, Mosaic & More
Comprehensive guide to solar loan complaints against major lenders. GoodLeap, Dividend Finance, Mosaic, Sunlight Financial — what borrowers allege and your legal options.
Solar Loan Complaints 2026: What Borrowers Are Reporting
Solar financing companies funded over $25 billion in residential loans between 2020 and 2025. As installer bankruptcies mount and systems fail to deliver promised savings, borrowers are discovering that their lender — not their installer — controls the path to resolution.
This page catalogs the most common complaints against major solar lenders and explains what legal theories apply to each.
Disclaimer: This article is informational, not legal advice.
The Solar Financing Landscape
| Lender | Est. Loans Funded | Known Issues | Status |
|---|---|---|---|
| GoodLeap | $25B+ | MN AG lawsuit, dealer fees, arbitration clauses | Active |
| Dividend Finance | $10B+ | MN AG lawsuit, escalator clauses | Active (Fifth Third) |
| Mosaic | $8B+ | MN AG co-defendant | Active |
| Sunlight Financial | $5B+ | MN AG lawsuit, Ch.11 May 2024, dealer fees | Reorganized |
| Service Finance Co. | $3B+ | Dealer fees, complaints | Active (Truist) |
| GreenSky | $2B+ | 2021 CFPB consent order | Active (Goldman Sachs) |
| Cross River Bank | $1B+ | Bank-of-record for fintech lenders | Active |
| WebBank | $1B+ | Bank-of-record for GoodLeap | Active |
The Core Complaint Pattern
Across all lenders, borrowers report the same pattern:
- Dealer fees hidden in the loan amount — A $25,000 solar system becomes a $35,000 loan with a 20-30% undisclosed dealer fee
- Misrepresented savings — Sales reps promise "free solar" or "the loan payment will be less than your electric bill"
- System underperformance — Actual energy production is 40-60% below what was promised
- Lender refuses cancellation — Borrowers told "you signed the contract, pay us"
- Arbitration clauses block court access — Most financing agreements require private arbitration, often with the lender choosing the forum
Lender-by-Lender Complaint Breakdown
GoodLeap
Primary borrower complaints:
- Undisclosed dealer fees inflating loan principal by 20-30%
- Financing applications submitted without borrower knowledge or consent
- Arbitration clause designating JAMS, with borrowers reporting difficulty navigating the process
- Minnesota AG named GoodLeap as co-defendant in 2024 consumer fraud action
Dividend Finance
Primary borrower complaints:
- High-pressure door-to-door sales paired with Dividend financing
- Annual escalator clauses in PPA/lease agreements (2.9% yearly increases)
- Difficulty obtaining loan documentation after signing
- Minnesota AG co-defendant; owned by Fifth Third Bank
Mosaic
Primary borrower complaints:
- Loan approvals based on installer representations rather than borrower verification
- Dealer-fee structure similar to GoodLeap
- Customer service delays when borrowers report installer problems
- Minnesota AG co-defendant
Sunlight Financial
Primary borrower complaints:
- Dealer-fee financing model tied to now-bankrupt installers (Titan, Pink Energy)
- Filed Chapter 11 in May 2024, emerged as reorganized entity
- Borrowers report confusion about who holds their loan post-bankruptcy
- Minnesota AG lawsuit specifically addresses dealer-fee disclosures
Full Sunlight Financial investigation
Key Legal Theories
1. FTC Holder Rule (16 CFR § 433)
Most solar financing agreements include a notice stating: "ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES."
This means you can raise your installer's misconduct against the lender.
2. State UDAP (Unfair and Deceptive Acts and Practices)
Every state has a consumer protection statute. In Texas, it's the DTPA. In Florida, it's FDUTPA. In California, it's the CLRA. These laws often include attorney-fee-shifting provisions — meaning if you win, the lender pays your legal fees.
3. TILA (Truth in Lending Act)
TILA requires accurate disclosure of finance charges, APR, and total loan cost. If dealer fees were not properly disclosed, TILA claims may apply. TILA also provides a right of rescission in certain circumstances.
4. Arbitration Challenges
Most solar financing agreements require arbitration through JAMS or AAA. While arbitration is binding, the lender typically pays the filing fees, and some agreements allow for fee-shifting if the borrower prevails. An experienced attorney can navigate this process.
What Documents to Gather
- Your financing agreement (the loan contract — critical)
- Your installation contract with the installer
- Truth in Lending disclosure (TILA box showing APR, finance charge, total of payments)
- Monthly statements from the lender
- Any correspondence with the lender about complaints or disputes
- Production/savings data showing actual vs. promised performance
FAQ
Can I cancel my solar loan if the system doesn't work?
You cannot unilaterally cancel the loan, but you can assert claims and defenses against the lender under the FTC Holder Rule. This can result in loan cancellation, damages, or both — but it requires legal action, not just a phone call.
What if my lender sold my loan to another company?
Your rights under the FTC Holder Rule and state UDAP laws travel with the loan. The new holder is subject to the same claims and defenses. Notify any new servicer in writing that you have pending disputes.
Do I need a lawyer to dispute a solar loan?
For informal complaints, you can file with the CFPB, your state AG, or the lender directly. But to cancel the loan or recover damages, you almost certainly need an attorney — especially if arbitration is required.
What if the lender also goes bankrupt?
This is rare for the major lenders (GoodLeap has $25B+ in funded loans), but if it happens, your claim becomes part of the bankruptcy proceeding. The FTC Holder Rule still provides a defense — you can raise it to stop collection efforts by any successor.