Vivint Solar 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.