Sunshine on Solar Lending Act

The Sunshine on Solar Lending Act would amend the Truth in Lending Act (TILA) to improve transparency in solar financing. It requires creditors to disclose dealer fees and related charges in solar financing transactions, including fees paid to third parties, and to identify every third-party participant. The bill adds a new disclosure rule tied to solar financing that also requires a clear comparison between the financed amount (including any finance charges) and the total cash price for solar products and services (infrastructure, labor, maintenance, etc.). It also prohibits mandatory arbitration for these transactions. The act defines a solar financing transaction broadly to cover purchase, installation, and related costs of solar energy systems. The changes would take effect within 60 days of enactment and apply to transactions entered into after that date.