MOORESVILLE, N.C. (QUEEN CITY NEWS) – A Mooresville-based solar company is shutting its doors, the company announced Wednesday.

Pink Energy notified all their employees that their employment would be terminated immediately.

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Leadership released the following statement, in part, to those employees:

“Over the last several months, we have experienced financial difficulties resulting from issues with Generac equipment and a decline in overall sales.

We have explored many options to remedy these matters, including the unexpected layoffs experienced recently.

Unfortunately, our efforts have been unsuccessful, and the increase in service calls combined with an unexpected and drastic decline in sales and increase in post-sale cancellations have now forced us to make the decision to close our doors completely and immediately.”

This comes as the company faces lawsuits and investigations; it had to lay off more than half its workforce.

Pink Energy CEO Jayson Waller says his company started installing Generac products, like the SnapRS device, in April 2020. The SnapRS is a component of the solar panel circuit that helps the system shut down in case its voltage gets too high.

According to a lawsuit against Generac, Pink Energy started noticing that the SnapRS component would overheat and melt in April 2021. In August 2021, they said this issue caused a house fire.