Vivint Solar, a full-service residential solar provider, launched a new fixed rate solar lease plan to expand its options for homeebuyers and builders ahead of California’s 2020 solar mandate. Initially available in select markets in California, the new solar plan allows new customers to install solar panels for no money down, lease them from Vivint Solar for 20 years and pay the same fixed monthly payment over the entire contract term.
The new offering underscores Vivint Solar’s commitment to expand the solar plans homebuilders can offer to homebuyers as they prepare for California’s 2020 mandate requiring rooftop solar installations on new homes. In collaboration with Vivint Solar, homebuilders in California can offer multiple solar plans to homebuyers, who will have the opportunity to choose their preferred financing option.
“In order to provide a best-in-class customer experience, we must continue to diversify the ways homeowners can go solar and save money on energy bills,” said Vivint Solar CEO David Bywater. “This new solar plan introduces a simple, flexible option for embracing clean, renewable energy and gives new customers the assuredness that they will pay the same amount for solar energy in 2038 as they will in 2018.”
Vivint Solar expects to extend the fixed rate solar lease plan to additional states in the coming months.
— Solar Builder magazine