LEHI, Utah, Aug. 25, 2016 /PRNewswire/ -- Vivint Solar (NYSE: VSLR), a leading provider of residential solar power, today announced its expansion into Florida, with availability beginning in the Tampa Bay area.
According to the U.S. Energy Information Administration, Florida has among the highest electricity consumption in the nation, with annual household electricity consumption approximately 30 percent higher than the U.S. average. Vivint Solar's integrated solar energy system offerings make the increasingly popular alternative energy solution available to Florida residents at an affordable cost.
"We now have more than 80,000 customers nationwide who are enjoying the financial and environmental benefits of our systems, and we are thrilled to be making that available to the residents of Florida," said David Bywater, interim CEO of Vivint Solar. "Floridians will now be able to enjoy the clean solar power their homes are able to generate, which can save them money and reduce impact on the environment."
Through Vivint Solar's financing relationships, residents in Florida will now be able to receive a loan for solar energy systems and finance ownership of the system with 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 renewable solar energy with no up-front investment.
The company's recent growth is indicative of the growing adoption of residential solar as a mainstream energy source for homeowners. The company has hired approximately 40 employees in Florida and plans to continue to hire as it expands to new areas.
Vivint Solar now operates in 13 states including: Arizona, California, Connecticut, Florida, Hawaii, Maryland, Nevada, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, 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.
Vice President of Investor Relations
SOURCE Vivint Solar, Inc.