LEHI, Utah, Nov. 18, 2015 /PRNewswire/ -- Vivint Solar (NYSE: VSLR), a leading provider of distributed solar energy systems in the United States, has aligned with Mosaic, a solar financing company, to provide loans to its customers for the full cost of solar energy systems.
Loans are currently being offered to Utah residents, and Vivint Solar plans to extend this new loan offering, with the help of their new financing partner, to residents in other markets in the near future.
"We're pleased that we can now offer another affordable financing solution to our customers," said Chance Allred, Senior Vice President of Sales at Vivint Solar. "We want to provide our customers multiple products to choose from to enable them to 'go solar.' If a customer wants instant financing or wants to eventually own their own solar energy system, we can now help them do that."
The loans will provide customers the opportunity to pay a low monthly payment. Just like a home mortgage, customers can build equity in their solar energy system and can enjoy years of free, clean energy once the loan is paid off. Customers have the option of keeping the solar federal tax credits and any state and local incentives for which they are eligible.
"Mosaic's best-in-class technology platform and consumer-friendly loan products align with Vivint Solar's mission to deliver an exceptional solar experience to consumers," said Ted Fawcett, Vice President of Sales at Mosaic. "We're pleased to work with the second largest residential solar company in the U.S. to make solar available to more customers in more markets."
About Vivint Solar
Vivint Solar is a leading provider of distributed solar energy – electricity generated by a solar energy system installed at a customer's location – to residential and commercial customers in the United States. Vivint Solar's customers pay little to no money upfront, receive significant savings relative to utility-generated electricity and continue to benefit from guaranteed energy prices over the 20-year term of their contracts. Vivint Solar finances, designs, installs, monitors and services the solar energy systems for its customers. For more information, visit www.vivintsolar.com or follow @VivintSolar.
Mosaic is the nation's leading residential solar lending platform, enabling thousands of people to profit from the benefits of clean energy by owning their own solar panels. Mosaic has been honored by Fast Company as a top ten most innovative company in energy for two consecutive years, by the Department of Energy as a SunShot award recipient, The Sierra Club as the Trailblazer Company of the year, and Verizon Wireless as the environmental winner for their Powerful Answers Awards. For more information, visit http://joinmosaic.com Solar Mosaic Inc., CFL Lic. #6054631
Note on Forward-looking Statements
This press release contains forward-looking statements as defined within the meaning of the federal securities laws. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These statements are based on current expectations and assumptions regarding future events and business performance as of the date of this press release, and they are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to the risks set forth in the registration statements and reports that Vivint Solar files with the U.S. Securities and Exchange Commission, which are available on the Investor Relations section of our website at www.vivintsolar.com. Vivint Solar does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
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SOURCE Vivint Solar