Your Solar Company Went Bankrupt. Here’s Who Owns Your New Jersey Contract Now

The letter usually arrives without warning. It’s from a company you’ve never heard of, it says your solar lease or loan has been “transferred,” and it lists a new payment portal and a new phone number. Meanwhile the installer whose name is on your contract has either vanished or is now selling something else under the same logo.



If that’s your situation, you’re one of a lot of homeowners. Several of the biggest names in residential solar went through Chapter 11 between 2024 and 2025, and the contracts they sold didn’t disappear with them. They were sold off, and the payments moved to new owners.

A bankruptcy changes who you pay, not necessarily whether you owe

When a company files under Chapter 11, it usually isn’t switching off. It restructures or sells its assets. A solar lease, power purchase agreement, or loan is an asset: a stream of payments that investors value. So the usual outcome is that your contract gets bought by someone else, and the paperwork you signed stays in force.

Three things tend to change in that handoff, and they matter more than the name on the invoice:

• Who you pay. A servicer or new owner takes over billing.
• Who fixes the system. The company that installed your panels may no longer exist, or may not have taken on the obligation to service them.
• Who stands behind the promises. Production guarantees, workmanship warranties, and monitoring support were commitments from the original company. Whether they survived depends on the terms of the sale and on your contract.

That last one is where homeowners get hurt. Your payments carried over cleanly, and the service didn’t.

How the big ones actually played out

The details are worth knowing, because “my installer went bankrupt” covers very different situations.

SunPower

SunPower filed for Chapter 11 in August 2024. Complete Solaria bought its Blue Raven Solar installation business, new-homes division, and dealer network for $45 million, and the sale closed on September 30, 2024. Complete Solaria later took the SunPower name, so a company called SunPower exists today, but it isn’t the same company. Its CEO has said the new SunPower didn’t take on interests in leases or systems installed before the sale date, according to reporting from CNN’s regional affiliate. Legacy SunPower leases are serviced by SunStrong Management, which also reportedly told customers it would let them defer payments until their systems were running again. NerdWallet’s running coverage tracks how the sale unfolded.

Sunnova

Sunnova filed on June 8, 2025, in Houston. At the time of filing it was managing and servicing 26 securitization trusts holding more than $7 billion in homeowner contracts and leases, according to the law firm that advised the bondholders. The court approved a sale of substantially all its assets on July 31, 2025, to Solaris Assets, an entity formed by its lenders and affiliates of GoodFinch Management. The acquisition closed in early September 2025, and SunStrong now manages the leases, loans, and PPAs. Sunnova’s own restructuring page told customers during the case to keep making payments as usual.

Mosaic

Mosaic, a solar loan platform, filed in June 2025 around the same time as Sunnova. If your solar loan came through Mosaic, the question is who now services and owns it, so look for the notice that tells you.

Lease, PPA, or loan: who’s on the other end now

This is the part most guides skip. Your next step depends on which kind of contract you signed.

• Lease or PPA: one company owns the panels and bills you. After a sale, that’s the new owner or its servicer, and the contract terms generally carry over with it.
• Loan: you own the system and owe money to a lender, which is a separate company from the installer. The installer’s bankruptcy doesn’t change what you owe, but it can change who services the loan, and the lender may still be around and reachable.

If you’re not sure which you have, the first page of your contract usually says. A fixed monthly charge for panels you don’t own is a lease, a per-kilowatt-hour charge is a PPA, and a loan balance on a system you own is a loan. Our guide to canceling a solar contract in New Jersey walks through the differences and the lien question in more detail.

What a bankruptcy doesn’t automatically erase

It’s tempting to assume that when the installer went under, your claims went with it. That isn’t automatically true. A New Jersey homeowner may have rights tied to how the contract was sold, and the seller, the dealer, the lender, and the installer can be separate companies. One of them filing for bankruptcy doesn’t necessarily wipe out claims against the others. Whether a given claim survives depends on your documents, so treat it as a question to check and not an assumption either way.

Two New Jersey resources are worth knowing:

• The New Jersey Division of Consumer Affairs takes complaints about home improvement and sales practices at 1-800-242-5846, and home improvement contractors must be registered with it. A missing registration number is worth noting.
• For solar loans, the Consumer Financial Protection Bureau takes complaints about lenders and servicers. A complaint on record can also help support a later claim.

What to do this week

You don’t need to solve everything at once, but a few things are easier now than later.

• Find the most recent notice about who owns or services your contract, and save the original and any follow-up.
• Keep every payment record, including bank statements and portal screenshots, from both the old and new servicer.
• Photograph the system and your monitoring app, with the date visible, especially if production has dropped or panels have gone offline.
• Log every service request: the date, who you spoke to, and what they said. A repair ticket nobody answered is evidence.
• Check what’s recorded against your home. Solar companies often file UCC fixture filings with the county clerk, and a transfer can create new filings in Essex, Hudson, Bergen, Union, or whichever county you live in.
• Be careful with new paperwork. If a servicer sends an assignment, buyout offer, or “updated agreement,” read it before you sign, and keep a copy.
• If you’re struggling with payments, ask your servicer or lender directly about hardship programs, since some offer them.

We don’t advise homeowners for or against paying or not paying a financial obligation. What we can do is review your documents and explain your options, which is a different thing from telling you what to pay.

When a review is worth it

If your installer disappeared, your servicer changed, your system isn’t producing what you were promised, or you’re about to sell or refinance, a second set of eyes on the contract is cheap compared with guessing. We’ll go through your lease, PPA, or loan, tell you who actually holds it now, and explain the realistic paths, including keeping the system if that’s the better call. It’s free, and there’s no obligation.

Call (973) 649-9006 or book a free contract review.

A few smaller questions

Does the manufacturer warranty on my panels still apply?

Often yes, because it comes from the manufacturer and not the installer. For example, Enphase and Maxeon each said the SunPower bankruptcy didn’t affect their own warranties, as reported by NerdWallet. The installer’s workmanship warranty is the one most likely to be worth little after a failure, so check which warranty covers what.

Will my installer’s bankruptcy affect my credit?

Not by itself. A company’s bankruptcy doesn’t appear on your credit report. Missed or late payments on a loan can, which is why the question of who you’re paying and when matters.

Can I hire another installer to repair my system?

On a lease or PPA, the company that owns the panels usually has to approve repairs, and outside work can breach the contract. On a loan, you own the system and have more freedom. Either way, put repair requests to your servicer in writing so there’s a record if the delays continue.

Can the new owner change my payment?

Generally the terms of your contract travel with it when it’s sold, so the new owner can’t simply raise your price. Look for an escalator clause in your original paperwork that raises payments by a set percentage each year, and compare any bill that looks higher against it.