PROVO, Utah, Oct. 18, 2013 /PRNewswire/ -- Vivint Solar, the second largest U.S. residential solar provider, today announced it has raised two more rounds of residential solar financing. The funds total $540 million and are provided by two major financial institutions.
The $540 million announced today is in addition to the $200 million of tax equity financing that Vivint Solar announced in August of this year.
"In less than three months, Vivint Solar has raised nearly three-quarters of a billion dollars to finance our solar projects," said Greg Butterfield. "These new financings will enable Vivint Solar to continue its unparalleled growth, while delivering simple, affordable solar solutions to our customers."
Vivint Solar is the second largest U.S. residential solar installer, according to the U.S. PV Leaderboard published by GTM Research. Vivint Solar designs, installs, monitors, and services every solar photovoltaic system with no upfront out-of-pocket costs to the homeowner. Through a power purchase agreement (PPA), a homeowner buys the power generated by the solar photovoltaic system at a rate currently lower than they could get from a local utility provider.
Vivint Solar currently operates in California, Hawaii, Maryland, Massachusetts, New Jersey, New York, and Washington D.C. For more information, visit www.vivintsolar.com.
About Vivint Solar
Vivint Solar is a leading provider of simple, affordable solar solutions. As an early adopter of the power purchase agreement (PPA) model, Vivint Solar designs, installs, monitors and maintains cost-effective solar energy systems. The company provides award-winning customer service and support while saving customers money and protecting the environment. For more information, visit www.vivintsolar.com.
Vivint is a leading provider of home technology services in North America. Vivint's technology-based platform integrates a wide range of wireless features and components that deliver simple, affordable home security, energy management, home automation, and solar solutions. In 2011, Vivint's Home Automation package and Advanced Security package received a Consumers Digest "Best Buy" rating. Dedicated to protecting families, increasing energy efficiency, and simplifying lives, Vivint has more than 13 years of experience and supports over 800,000 customers throughout the United States and Canada. For more information, visit the company's website at www.vivint.com.
Director of Public Relations
SOURCE Vivint Solar