LEHI, Utah — Vivint Solar (NYSE: VSLR) has aligned with Mosaic, a solar financing company, to provide loans to its customers for the full cost of solar energy systems.
Loans are currently being offered to Utah residents, and Vivint Solar plans to extend this new loan offering, with the help of their new financing partner, to residents in other markets in the near future.
“We’re pleased that we can now offer another affordable financing solution to our customers,” said Chance Allred, Senior Vice President of Sales at Vivint Solar. “We want to provide our customers multiple products to choose from to enable them to ‘go solar.’ If a customer wants instant financing or wants to eventually own their own solar energy system, we can now help them do that.”
The loans will provide customers the opportunity to pay a low monthly payment. Just like a home mortgage, customers can build equity in their solar energy system and can enjoy years of free, clean energy once the loan is paid off. Customers have the option of keeping the solar federal tax credits and any state and local incentives for which they are eligible.
“Mosaic’s best-in-class technology platform and consumer-friendly loan products align with Vivint Solar’s mission to deliver an exceptional solar experience to consumers,” said Ted Fawcett, Vice President of Sales at Mosaic. “We’re pleased to work with the second largest residential solar company in the U.S. to make solar available to more customers in more markets.”
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 and commercial 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.
Mosaic is the nation’s leading residential solar lending platform, enabling thousands of people to profit from the benefits of clean energy by owning their own solar panels. Mosaic has been honored by Fast Company as a top ten most innovative company in energy for two consecutive years, by the Department of Energy as a SunShot award recipient, The Sierra Club as the Trailblazer Company of the year, and Verizon Wireless as the environmental winner for their Powerful Answers Awards.