Leading rooftop solar company Vivint Solar and leading solar lending platform Mosaic are offering loans to Utah solar energy customers.
Vivint Solar has had a busy few months, not the least of which was its strong third quarter earnings reported back in the middle of November, which saw the company reveal increased installations and revenue for the third quarter of 2015. At the same time, however, Vivint Solar also announced that it was aligning with the United States’ leading residential solar lending platform, Mosaic, to provide loans to Vivint Solar customers for the full cost of solar energy systems.
The agreement between the two companies has resulted first in loans being provided to Vivint Solar customers in Utah, however Vivint Solar plans to extend this new loan offering option to residents in their other markets in the near future. The offered loans will allow customers the opportunity to “pay a low monthly payment” and will work just like a home mortgage, allowing customers to build equity in their solar energy system.
“We’re pleased that we can now offer another affordable financing solution to our customers,” said Chance Allred, Senior Vice President of Sales at Vivint Solar. “We want to provide our customers multiple products to choose from to enable them to ‘go solar.’ If a customer wants instant financing or wants to eventually own their own solar energy system, we can now help them do that.”
“Mosaic’s best-in-class technology platform and consumer-friendly loan products align with Vivint Solar’s mission to deliver an exceptional solar experience to consumers,” added Ted Fawcett, Vice President of Sales at Mosaic. “We’re pleased to work with the second largest residential solar company in the U.S. to make solar available to more customers in more markets.”
Earlier this week, Vivint Solar was again in the news, after it was revealed that SunEdison would be modifying its acquisition agreement with Vivint Solar, so as to mollify the concerns of SunEdison investors.
“We are excited to join the SunEdison team,” added Greg Butterfield, Vivint Solar’s chief executive officer. “We look forward to continuing to strengthen our leading platform in the residential and small commercial space.”
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