yellowswan298
September 07, 2020
"Caution: Misleading Practices by Sunlight Financial"
This company is downright fraudulent, using phony reviews to push Sunlight Financial, which isn’t even on Site Jabber. Here’s what I found out:
My contract states that I’m supposed to pay $105.11 monthly for the first 17 months. After that, if I don’t pay the 26% rebate by the 17th payment, it jumps to about $142.66. There’s no penalty for paying off early, though.
I talked to my CPA about this whole situation. He told me that the rebate is a non-refundable credit that just offsets the withholding taxes you owe, but it doesn’t lower your self-employment tax. For instance, if you owe $1,000 in withholding tax for 2020, that credit will wipe out your tax bill, but any leftover credit can be carried over for up to five years. Basically, the IRS is covering your tax payment, but they won’t give you a refund on that credit. A lot of solar companies trick their customers by saying it’s a refundable credit without giving the full story. The good companies make it clear that it’s just a credit, not something you can get back.
I reached out to Sunlight Financial’s so-called "support" team with this info. Here’s their reply:
Hello,
Thanks for reaching out to Sunlight Support. We’re sorry for any misunderstanding, but we couldn’t quite grasp what you meant. Could you clarify your message so we can help you better? Don’t hesitate to call us at *******359 if you have any questions. Thanks!
Best,
Sunlight Support Team
I also sent this message to their "compliance ops" department, but I’m still waiting for a reply. I really recommend being super careful if you’re thinking about buying solar panels.