One of the United States’ leading residential solar providers, Vivint Solar, has expanded its services into the great southern state of Texas, with operations beginning first in the state’s capital, Austin.
Vivint Solar is the second-leading residential solar provider in the United States according to July figures from GTM Research, placing it second behind SolarCity, who itself earlier this month expanded its own solar operations into Austin, Texas. The rush to expand residential solar services into Texas by the country’s big-name residential solar providers is unsurprising given that recent figures from the US Energy Information Administration place Texas as currently leading the nation in energy consumption.
Additionally, Texas’ own solar capacity has grown by 65% over the last year, according to figures from the Solar Energy Industry Association (SEIA).
No wonder there is such a rush to expand residential services into the state.
“Our new market in Texas is evidence of growing demand for residential solar solutions across the country,” explained David Bywater, interim CEO of Vivint Solar. “Solar is a financially and environmentally beneficial energy solution that is becoming a mainstream energy source for homeowners, and we’re excited to now offer this affordable energy solution to the residents in Austin and beyond.”
Vivint Solar will now be providing Austin residents with the ability to receive a loan for solar energy systems, which will finance ownership of the system with little to no upfront costs. Vivint Solar’s financing options allow consumers the opportunity to take advantage of the federal investment tax credit to further lower their monthly payments, while Vivint Solar designs, installs, and maintains the resulting solar system — receiving monthly repayments to pay back the cost of the installation which are still typically cheaper than traditional utility bills.
This recent service expansion takes Vivint Solar’s current operating status into 14 states, a number which is more than likely to continue growing, considering the company’s penchant for regular and sizeable financing agreements.