Vivint Solar Information
- Founding Year: 2011
- CEO name: Greg Butterfield
- Headquarters location: Provo, UT
- Markets served: California, Hawaii, Maryland, Massachusetts, New Jersey, New York, and Washington D.C.
- Recent news: http://www.prnewswire.com/news-releases/sunedison-and-terraform-power-announce-definitive-agreement-to-acquire-vivint-solar-for-22-billion-300115431.html
The History of Vivint Solar
Vivint Solar began in 2011 as an offshoot of its parent company Vivint, Inc. By 2013, it was already ranked as the second most popular residential solar energy system provider by GTM Research, and is currently thought to be the quickest expanding solar energy provider in the United States that makes use of the power purchase agreement (PPA) model.
Vivint Solar Services
Earning its A+ BBB accreditation in 2012, Vivint Solar reviews the specific needs of homeowners in order to drastically cut their electricity bills with its comprehensive solar plans, which include the layout, financing, permitting, installation and constant maintenance of a sun-based energy system. The company is known for its innovative use of special microinverters in each individual solar panel, permitting maximum energy production even if some panels are shaded from the sun. It also uses unique Zep Solar technology which streamlines the installation process. While many other solar energy systems may require days or even weeks to install, your entire system is normally up on your roof and generating power within 24 hours. Most Vivint Solar customers spend an average of 25% less than what a typical homeowner pays their utility company for classic energy.
Lease or Buy Options
Vivint Solar reviews, installs and maintains solar power systems in residential homes as part of a customer’s agreement to buy the solar power their panels generate. Buyers do not pay for unit installation but for the electricity that the panels provide, for the total duration of the agreement, at prices which are considerably lower than their former electricity costs. Vivint Solar’s customers lease or buy solar technology systems according to one of two kinds of long-term agreements – a lease or a power purchase agreement (PPA).
With the leasing system, the customer’s monthly payment amount is predetermined based upon an equation that calculates the expected solar power output. The lease carries an output guarantee by which Vivint Solar agrees to pay the customer should the leased system not satisfy the guaranteed production amount. With the PPA system, customers are charged for each kilowatt hour depending on the quantity of electricity the solar power system actually generates.
Contacting Vivint Solar
For customer service concerns such as bill inquiries and account information, you may contact Vivint Solar any time of day at 1-877-404-4129.