LEHI, Utah, June 8, 2017 /PRNewswire/ -- Vivint Solar, Inc.,
(NYSE: VSLR), a leading full-service residential solar provider,
today announced that it plans to re-enter the Nevada market to bring its affordable
residential solar systems to residents. Vivint Solar announced its
intention to restore operations in the state following the Nevada
Legislature's passing of Assembly Bill 405 and stated commitment by
Governor Sandoval to sign the bill into law.
Vivint Solar closed its operations in Nevada in 2015 following regulation that
changed solar net energy metering rules and the state's primary
utility reaching its net metering cap. AB 405 reinstates a policy
that allows Nevada residents to be
reimbursed for excess rooftop solar generation, while providing
additional rights to protect consumers and their solar energy
system investments.
"We are very pleased Nevada
officials have recognized the broad public support of rooftop solar
and reestablished the state's commitment to the future of renewable
energy," said David Bywater, CEO of
Vivint Solar. "This bill demonstrates the power of building
consensus across stakeholders to find a win-win-win solution for
the residential solar industry, utilities and Nevada consumers. We look forward to bringing
jobs, consumer choice and affordable solar power back to the state
of Nevada."
Vivint Solar expects to create up to 60 jobs in Nevada in the coming months and approximately
100 total jobs once it fully resumes operations in the state.
Once it returns to Nevada,
Vivint Solar will operate in 18 states (Arizona, California, Colorado, Connecticut, Florida, Hawaii, Maryland, Massachusetts, Nevada, New
Hampshire, New Jersey,
New Mexico, New York, Pennsylvania, Rhode
Island, South Carolina,
Texas and Utah) and Washington
D.C.
About Vivint Solar
Vivint Solar is a leading full-service residential solar
provider in the United States.
With Vivint Solar, customers can power their homes with clean,
renewable energy and typically achieve significant financial
savings. Offering integrated residential solar solutions for the
entire customer lifecycle, Vivint Solar designs, installs, monitors
and services the solar energy systems for its customers. In
addition to being able to purchase a solar energy system outright,
customers may benefit from Vivint Solar's affordable, flexible
financing options or power purchase agreements. Through an
exclusive collaboration, Vivint Solar is the only residential solar
provider to offer solar plus storage systems with Mercedes-Benz
batteries. For more information, visit www.vivintsolar.com or
follow @VivintSolar on Twitter.
Note on Forward-looking Statements
This press release contains forward-looking statements as
defined within the meaning of the federal securities laws,
including statements regarding the market and regulations for
residential solar energy systems in Nevada, Vivint Solar's
expansion strategy and intention to create jobs, and the
affordability of solar power. Forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot
be predicted or quantified. Forward-looking statements should not
be read as a guarantee of future performance or results, and they
will not necessarily be accurate indications of the times at, or
by, which such performance or results will be achieved, if at all.
These statements are based on current expectations and assumptions
regarding future events and business performance as of the date of
this press release, and they are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in or suggested by the forward-looking
statements, including but not limited to the risks set forth in the
registration statements and reports that Vivint
Solar files with the U.S. Securities and Exchange
Commission, which are available on the Investor Relations section
of its website at www.vivintsolar.com. Vivint Solar does
not undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
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SOURCE Vivint Solar