Vivint Solar has rapidly risen to the top in the U.S. solar industry, with a full range of options available to residential clients interested in making the switch to solar.
Vivint Solar, Inc. is the second-leading solar installation company in the United States, trailing only Sunrun in overall market share. As of January 1, 2019, it had installed rooftop solar panels on 154,600 homes, with a cumulative energy-generating capacity of just over one gigawatt.
The company was incorporated in 2011. Its parent company, Vivint, sells smart home security and home automation systems. Vivint Solar, Inc. is based in Lehi, Utah, but designs, installs, monitors and maintains residential solar energy systems in 22 states, primarily in the southwest and northeast.
Vivint Solar, Inc. is headed by CEO, President and Director David Bywater, a Harvard Business School graduate with over 20 years of experience in corporate enterprises. The company is publicly traded on the New York Stock Exchange and employs over 2,500 people.
In order to diversify its offerings, Vivint Solar formed partnerships with Mercedes-Benz for home battery storage, with ChargePoint for electric vehicle charging systems and with its sister company Vivint Smart Home for energy use tracking technology. When purchasing Vivint's Fully Integrated Solar package, clients can obtain all of these technologies simultaneously.
Vivint Solar acquires most of its customers through door-to-door sales, from referrals or through its website. The majority of their clients sign on with solar leases or Power Purchase Agreements (PPAs).
Whether clients lease or purchase, Vivint technicians and designers handle all aspects of the installation process plus ongoing maintenance and monitoring services. Clients purchasing solar equipment from Vivint have access to third-party financing (solar loans) in 12 of the 21 states where the company does business. Vivint Solar imports its solar panels from southeast Asia, selling and installing high-efficiency PERC monocrystalline panels exclusively.
In 2018, Vivint Solar made its first foray into the Midwest, opening for business in the Chicago area. Vivint products and services are now available to more than 60 percent of the country's population.
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