Vivint Solar Expands Solar Plans in California to Give Greater Flexibility to Homeowners and Builders Ahead of 2020 Solar Mandate1 November, 2018 | Press Releases
LEHI, Utah, Nov. 1, 2018 /PRNewswire/ -- Vivint Solar, Inc. (NYSE: VSLR), a leading full-service residential solar provider, today announced it has launched a new fixed rate solar lease plan. Initially available in select markets in California, the new solar plan allows new customers to install solar panels for no money down, lease them from Vivint Solar for 20 years and pay the same fixed monthly payment over the entire contract term.
The new offering underscores Vivint Solar's commitment to expand the solar plans homebuilders can offer to homebuyers as they prepare for California's 2020 mandate requiring rooftop solar installations on new homes. In collaboration with Vivint Solar, homebuilders in California can offer multiple solar plans to homebuyers, who will have the opportunity to choose their preferred financing option.
"In order to provide a best-in-class customer experience, we must continue to diversify the ways homeowners can go solar and save money on energy bills," said Vivint Solar CEO David Bywater. "This new solar plan introduces a simple, flexible option for embracing clean, renewable energy and gives new customers the assuredness that they will pay the same amount for solar energy in 2038 as they will in 2018."
Vivint Solar expects to extend the fixed rate solar lease plan to additional states in the coming months.
For more information, visit www.vivintsolar.com/state/california.
About Vivint Solar
Vivint Solar is a leading full-service residential solar provider in the United States. With Vivint Solar, customers can power their homes with clean, renewable energy and typically achieve significant financial savings over time. Offering integrated residential solar solutions for the entire customer lifecycle, Vivint Solar designs and installs the solar energy systems for its customers, and offers monitoring and maintenance services. In addition to being able to purchase a solar energy system outright, customers may benefit from Vivint Solar's affordable, flexible financing options, power purchase agreements, or lease agreements, where available. Vivint Solar also offers solar plus storage systems with LG home batteries. For more information, visit www.vivintsolar.com or follow @VivintSolar on Twitter.
Senior Director of Communications