By Frank Andorka, Senior Correspondent
California has the most aggressive solar plans in the nation. This is no surprise. Between the 100% renewable portfolio standard (RPS) (which in the Golden State means solar) to its mandating that all new construction must have solar panels on them starting in 2020, it’s clear the legislature and the people of California have gone all in on the Solar Revolution.
But that would mean nothing if there is no one to serve the burgeoning market. Which is why the most recent announcement from Vivint Solar is so exciting that they are expanding their solar leasing program to the entire state.
Vivint Solar, a leading full-service residential solar provider, announced it has launched a new fixed rate solar lease plan. 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.