Vivint Solar Expands Solar Energy System Sales And Financing To Three of Its Existing States

Vivint Solar has announced that it has made solar energy system purchases and financing available to homeowners in three of its existing states — Connecticut, Maryland and South Carolina.

Vivint Solar’s financing relationships allow customers finance ownership of a residential solar energy system with no money down. The resulting low monthly financing payments are comparable to a customer’s prior utility payments, but build equity in the customer’s solar energy system. The company notes that after the financing is repaid, the homeowner pays nothing more for the power produced by the system.

Homeowners who choose to purchase a system may also qualify to receive a federal tax credit, along with any state and local incentives for which they may be eligible.

This third-party financing product was earlier available to Vivint Solar customers in Arizona and Utah, while in California, Vivint Solar offers PACE as an alternative.  The company is selling systems directly to homeowners, utilizing the loan and PACE products provided through its financial relationships, in the six aforementioned states and plans to expand to most of Vivint Solar’s markets by the end of September.

“We are excited to expand solar energy system purchases and financing options to three more of our existing states,” said Chance Allred, Senior Vice President of Sales at Vivint Solar. “Purchasing a solar energy system, with cash or through financing, provides an attractive alternative to power purchase agreements (PPAs) for customers who want to own their solar energy system, and the continued growth in demand has lead us to provide opportunities for more homeowners to go solar.”