Agreement Will Support Growth for Both Organizations
PROVO, Utah & SAN FRANCISCO–(BUSINESS WIRE)– Vivint Solar™, a leader in simple, affordable solar solutions, is partnering with Clean Power Finance to bring more affordable financing options to homeowners interested in clean energy. As a leading provider of residential financing for the solar industry, Clean Power Finance will provide unparalleled support, enabling both organizations to expand into more markets throughout the United States.
The partnership with Clean Power Finance supports Vivints focus on delivering world-class solar solutions while extending the company's ability to offer affordable solar power to more consumers. According to the Solar Energy Industries Association, residential installations in the United States grew by 21 percent toward the end of 2011, and analysts and industry experts expect to see continued demand for residential solar in 2012 and beyond.
Customers of Vivint Solar enjoy a variety of cost and energy saving benefits, including free installation, monitoring and maintenance of solar panels. The Clean Power Finance partnership will allow Vivint Solar to expand its existing financing and maintenance options for homeowners, which include the ability to purchase the power generated by the panels for a lower rate than consumers typically pay their utility, and locking in lower monthly electricity rates for 20 years.
Vivint Solar works with the leading solar vendors and is the only solar provider in the nation that can offer experienced, award-winning field and customer service, keeping all functions in-house and never outsourcing.
"This partnership supports Vivint's commitment to provide customers with world-class service," said Tanguy Serra, president of Vivint Solar. "Clean Power Finance's track record in consumer solar financing is unprecedented and it was important to us that their transparent, non-exclusive model supported our brand and business. Collaborations like this will help fuel Vivint's continued success in the growing residential solar market."
Clean Power Finance connects investors and capital markets with solar installers and salespeople, helping nationwide partners like Vivint Solar drive their businesses with a suite of online solar sales and design software tools and white label residential solar finance products that partners can brand and market as their own.
"Clean Power Finance is committed to expanding the residential solar market by making competitive, white label finance products available to top sales and service providers like Vivint Solar," said Nat Kreamer, CEO of Clean Power Finance. "This partnership will help many more homeowners across the U.S. realize the economic benefits of clean, renewable solar energy."
About Vivint Solar
Vivint Solar is a leading provider of simple, affordable solar solutions. As an early adopter of the power purchase agreement (PPA) model, Vivint Solar designs, installs, and maintains cost-effective solar energy systems. The company provides award-winning service and support while saving customers money and protecting the environment. For more information, visit www.vivintsolar.com.
About Clean Power Finance
Clean Power Finance is driving the mass-market adoption of residential solar by building an online marketplace to connect the solar industry and the capital markets. The company provides solar professionals, manufacturers and distributors with access to a variety of white label residential finance products and easy-to-use solar sales quoting and design tools. For investors and lenders, the company makes it easy to invest in residential solar projects that provide reliable rates of return. Founded in 2007, Clean Power Finance is funded by Kleiner Perkins Caulfield & Byers (KPCB), Google Ventures and Claremont Creek Ventures. To learn more about how Clean Power Finance can accelerate the growth of
your business, please visit www.cleanpowerfinance.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50159512&lang=en
Megan Herrick, 801-705-6294
Director of Public Relations
Source: Vivint Solar and Clean Power Finance