Vivint Solar is looking for more markets. The company announced two moves last week that will help it expand into new markets, Illinois and with a homebuilder in California. The rooftop solar company was already in the Golden State, but the announcement that it will work with a homebuilder ahead of that state’s solar mandate, places it for further growth in the nation’s largest solar market.
The company said that partnering with a large homebuilder in California is integral to Vivint Solar's plan to help homebuilders meet its 2020 mandate for installing rooftop solar on new homes there. Vivint Solar did not name the homebuilder at this point but said it’s one of the nations largest and it will provide its homes with solar power in Southern California.
"As one of the country's largest residential solar providers, we are in the ideal position to lead the charge in delivering on California's mandate," said David Bywater, CEO of Vivint Solar. "We are proud to collaborate with one of the largest homebuilders in the country and look forward to creating a seamless experience for homebuyers in Southern California to adopt clean, renewable energy."
The solar installer said it will design grid-connected solar arrays specifically for several of the homebuilder’s models. It will offer homebuyers multiple financing options. Vivint Solar added that the systems should help homeowners save money on their utility bills immediately.
Vivint Solar also announced that it’s entering Illinois as a new market, starting in the greater Chicago area. With the addition of Illinois, the Utah-based company now serves customers in 22 states. It’s also its first foray into the Midwest, Vivint said. It plans to have more than employ more than 100 people by the end of 2018.
"With a supportive regulatory environment and broad enthusiasm toward clean energy, Illinois is a very promising market for rooftop solar,”Bywater said. "In particular, we are thrilled to begin operations in Chicago, the largest metropolitan area in the U.S. where we did not yet have a presence. We believe this state has tremendous potential to become a strong clean energy hub, and we look forward to helping residents embrace solar energy and enjoy greater control over their electricity costs."
The rooftop solar company will offer numerous financing options in the state, including purchasing the system outright, leasing a solar array or financing the solar array through Vivint Solar’s partner institutions.Customers in Illinois will qualify for local incentives and will net-meter their systems through the electric grid.Tweet