Vivint Solar Snags $280M More For Solar Installs

Provo, Utah-based Vivint Solar, which installs residential solar power nationwide, said this week that it has completed three new tax equity transactions which will fund approximately $280M worth of solar systems. Source of the funds were not disclosed. The new funding will go towards power purchase agreements (PPAs), which are being used by Vivint Solar and others to fund the installation of solar power systems on residential rooftops, in exchange for long term payments from homeowners for the power generated by those solar power systems. Vivint--and other solar installer and lease providers--have been tapping into financial investors interested in the positive, regular revenue streams from homeowners who have installed solar power.