POLARIS Solar and ACT Renewable Energy said in leaflets distributed in Western Australia and the ACT in late 2011 and early 2012 that customers should buy solar panels because electricity prices would increase by 20 per cent due to the carbon price.
The brochures also claimed the cost of power would rise by more than 400 per cent by 2019.
The Australian Competition and Consumer Commission found the information was "clearly misleading".
While the brochures said the figures were based on independent studies, they were in fact based on unverified claims in an energy industry association ad.
"There was no reasonable basis for these claims to be made," ACCC acting chairman Michael Schaper said in a statement.
Polaris Solar and ACT Renewable Energy gave an undertaking on Tuesday not to engage in similar conduct in the future and ensure all directors are trained in consumer law.
Assistant Treasurer David Bradbury said it was an important reminder to businesses they could not make false claims about the carbon price.
"This also underscores the fact that the reckless and negative scare campaign run by Tony Abbott and vested interests is putting businesses at risk of breaking the law," Mr Bradbury said.
Solar power is non-polluting. Unlike oil, solar power usage does not emit any greenhouse gases, nor does the acquisition of it harm ecosystems through spills or dredging. This is probably one of the primary advantages of solar power.
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