LEHI, Utah, Aug. 29, 2017 /PRNewswire/ -- Facing the
possibility of a regulatory proceeding that could have devastated
the solar industry and harmed Utah
rooftop solar customers, Vivint Solar joined industry leaders in
agreeing to a compromise solution to protect existing solar
customers and to preserve Utahns' ability to choose rooftop solar
in the future.
"Utahns are passionate about technological innovation, energy
independence and environmental stewardship," said David Bywater, CEO of Vivint Solar. "The
settlement clears up the uncertainty of the last nine months
created by RMP, but as with any compromise, we didn't get
everything we want in this deal. We made many concessions that were
painful and will hurt our industry, but the agreement allows us to
move forward. We believe transparency and certainty in the
regulatory process benefit all Utahns. This compromise was
necessary in Utah to enable us to
support Utah's solar pioneers as
we honor previous commitments and preserve consumer choice."
Convened by Gov. Gary Herbert, a
small group consisting of the rooftop solar industry, solar
advocates, the Utah Division of Public Utilities, the Utah Office
of Consumer Services, Rocky Mountain Power, and environmental
stakeholders, agreed to a three-year process that will help
determine the true value of rooftop solar and its long-term
benefits to all ratepayers and Utah.
Under the settlement, existing rooftop solar customers will be
grandfathered through the end of 2035. While the compromise is
expected to slow job creation in Utah's rooftop solar sector, new customers
will be able to invest in rooftop solar without unwarranted
increased charges. Additionally, through the end of 2033, they will
receive nearly the retail rate for the clean energy they provide to
the grid and that's consumed by their neighbors.
With Rocky Mountain Power's 2016 study and net metering
proposal, the benefits of rooftop solar were significantly
undervalued by narrowly looking at the value provided by solar in
one year instead of a long-term view of solar over its 35-plus year
useful life. The current compromise allows consumers, businesses
and advocates to challenge these erroneous value assumptions, the
short-term narrow view, and collect the necessary data to
accurately determine the true value of rooftop solar. As this
additional data is collected from a significant sample size and
evaluated, solar industry leaders are confident it will show that
the long-term benefits of rooftop solar outweigh its costs and
there is no subsidy.
"This compromise allows Utahns to affordably invest in rooftop
solar with the certainty of a 15-year fixed rate for energy they
export to the grid. More importantly, solar customers will be able
to generate all the power for use in their own home or business
without being penalized," said Ryan
Evans, president of the Utah Solar Energy Association. "The
transition program we've created will protect the majority of the
4,400 solar jobs in Utah and the
$400 million economic impact the
industry has in our state."
"Utah Clean Energy's priority throughout this process was to
ensure that all Utahns have the choice to power their homes with
their own solar energy," said Sarah
Wright, executive director of Utah Clean Energy. "This
settlement accomplishes that goal for the near term, ensuring a
stable solar market for Utah. It
also allows experts to work through long-term solutions for
integrating solar into our electricity system to finally end the
tug-of-war that has been going on between the utility and families
and businesses wanting to install solar."
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 over time. Offering integrated residential solar solutions
for the entire customer lifecycle, Vivint Solar designs and
installs the solar energy systems for its customers, and offers
monitoring and maintenance services. In addition to being able to
purchase a solar energy system outright, customers may benefit from
Vivint Solar's affordable, flexible financing options, power
purchase agreements, or lease agreements, where available. Through
an exclusive collaboration, Vivint Solar also offers solar plus
storage systems with Mercedes-Benz batteries. For more information,
visit www.vivintsolar.com or
follow @VivintSolar on Twitter.
Press Contacts
Vivint Solar
Helen Langan, Director of Public
Relations
385-202-6577
pr@vivintsolar.com
Agency Contact
Ashlyn Hewlett, Method
Communications
801-461-9772
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SOURCE Vivint Solar