LEHI, Utah, Sept. 21, 2016 /PRNewswire/ -- Vivint Solar (NYSE: VSLR), a leading full-service residential solar provider, today announced its expansion into Texas, with services beginning in the Austin area.
The Texas market presents a compelling opportunity for Vivint Solar. According to the U.S. Energy Information Administration (EIA), Texas leads the nation in energy consumption, accounting for more than one-eighth of the U.S. total. The state's solar capacity has grown by 65 percent over the last year, according to the Solar Energy Industry Association, and the EIA reports that Texas has some of the largest solar power potential in the country.
"Our new market in Texas is evidence of growing demand for residential solar solutions across the country," said David Bywater, interim CEO of Vivint Solar. "Solar is a financially and environmentally beneficial energy solution that is becoming a mainstream energy source for homeowners, and we're excited to now offer this affordable energy solution to the residents in Austin and beyond."
Through Vivint Solar's financing relationships, residents in Texas will now be able to receive a loan for solar energy systems and finance ownership of the system with little to no money down. Because the customer owns the system, customers can apply the federal investment tax credit to lower the cost of their monthly payment. As part of each sale, Vivint Solar designs, installs and maintains the system, allowing customers to enjoy the benefits of affordable, renewable solar energy.
Vivint Solar now operates in 14 states including: Arizona, California, Connecticut, Florida, Hawaii, Maryland, Nevada, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, Texas and Utah.
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 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 on Twitter.
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.
Vivint Solar Contact:
Director of Public Relations
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SOURCE Vivint Solar