Solar Power WorldNovember 12, 2019353
Vivint Solar offers multiple options for homeowners to benefit from solar energy, including loans which facilitate direct ownership of solar-powered systems, and PPAs or leases for solar panels which allow homeowners to benefit from solar energy without owning it themselves. PPAs are contracts in which a solar company, like Vivint Solar, arranges for the design, permitting, financing for solar panels, and installation of a solar-powered system, and in exchange, the homeowner agrees to purchase the solar energy the solar-powered system produces. This option allows homeowners to benefit from powering their home with solar energy, with the convenience of having Vivint Solar finance the solar-powered system, own it, operate and maintain it on behalf of the homeowner. In California, when homeowners choose the PPA option, they can now include a battery along with their solar panels.
“As we look to offer more viable options, we see a clear need, especially in markets like California, to provide a number of solutions for solar energy and storage. This includes the new option of a PPA that features solar-plus-storage,” said David Bywater, CEO of Vivint Solar. “Residential solar paired with a battery will help keep the lights on and provide power when homeowners need it the most.”
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