Sec. 3. Disclosure of dealer fees in solar financing transactions
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Section 106 of the Truth in Lending Act ( 15 U.S.C. 1605 ) is amended— in subsection (a), by adding at the end the following: in any consumer credit transaction for solar financing, as defined in subsection (h), any seller’s points or other charges imposed by the creditor upon a noncreditor seller for providing credit to the consumer or for providing credit on certain terms. ; and by adding at the end the following: A creditor for a solar financing transaction shall clearly and conspicuously disclose in writing to the consumer— any fee charged to a third party by the creditor relating to the solar financing transaction; any fee imposed directly or indirectly by the creditor or a third party, that is payable directly or indirectly by the consumer, relating to the solar financing transaction; the identification of any third party that is a party to the solar financing transaction; and a comparison of the amount financed by the solar financing transaction, including the amount of any finance charges with— the total cash price for each product obtained by the consumer through the solar financing transaction, including infrastructure and labor costs; and the total cash price for each service obtained by the consumer through the solar financing transaction, including maintenance and repair costs.
With respect to a solar financing transaction negotiated (in part or in whole) with the consumer in person, a creditor or third party (as applicable) shall provide the consumer with a paper copy of the disclosures described in paragraph (1). A solar financing transaction may not include terms which require arbitration or any other nonjudicial procedure as the method for resolving any controversy or settling any claims arising out of the transaction. In this section, the term solar financing transaction means a consumer credit transaction to finance the purchase, installation, or associated costs of a solar energy system, including solar panels, inverters, battery storage systems, electric vehicle charging stations, and any related infrastructure required for the operation of such solar energy system. .
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Sec. 3
Disclosure of dealer fees in solar financing transactions
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