Vivint Solar Announces Availability of Solar Leases in Florida

Vivint Solar (NYSE:VSLR) announced that the Florida Public Service Commission has approved its solar lease product proposal that allows homeowners in Florida to install solar panels for no initial payment.

Vivint Solar, a leading full-service residential solar provider said that solar leases are immediately available in St. Petersburg and Orlando areas.

As quoted in the press release:

New Vivint Solar customers in other markets in Florida may also have the option to qualify for a solar lease.

“We appreciate the commission for clarifying its position and removing any stumbling blocks to the expansion of customer choice for solar power in Florida,” said Vivint Solar CEO David Bywater. “Our solar lease product allows many more customers to benefit from clean, renewable energy, and we are excited that our new Sunshine State customers can adopt solar at zero down for the first time.”

Under a lease agreement, Vivint Solar designs and installs a solar energy system for no upfront cost. The company provides clean, efficient energy from the abundant Florida sunshine to customers, who pay a fixed monthly amount, which provides most customers with overall energy cost savings compared to their local utility. On average, Vivint Solar customers across the United States save up to 20 percent with Vivint Solar’s leases relative to their current utility rates.

Vivint Solar takes care of all necessary permitting and paperwork and customers have no maintenance responsibility for the system.

Vivint Solar expanded into Florida in 2016. The availability of leases provides more flexible options to go solar for Florida homeowners, who can also purchase a system from Vivint Solar outright or finance the purchase with monthly payments through one of the institutions Vivint Solar has relationships with, or through their preferred lender.

Click here for the full text release.