Vivint Solar announced today that it is expanding into the solar market in Hawaii, just a few weeks after announcing expansion into Boston, Mass.
Power prices in Hawaii have risen 17.8 percent during the last 10 years. With Vivint Solar's power purchase agreement (PPA), customers agree to purchase the power their solar panels at rates that are lower than their typical power bill, which not only saves money, but reduces the carbon footprint generated by the home. In exchange for agreeing to the PPA, Vivint Solar designs, installs and maintains the system with no out-of-pocket costs to the customer. Using federal and state solar rebates and tax credits make it more affordable to install solar panels.
"We initially launched our solar services in New Jersey and Massachusetts, and the feedback we've received has been phenomenal. Because Hawaii is among the leaders in the nation for providing homeowners a seamless and efficient solar integration process, the state was a natural next step for Vivint Solar," said Tanguy Serra, president of Vivint Solar. "By using our solar service, the people of Hawaii will be able to rely less on traditional energy sources and rely more on the clean solar power their homes generate, and will be saving money in the process."
Brendon Merkley, COO of Vivint, said "Hawaii is one of the natural markets that is such an obvious market for solar. It's an isolated island that has limited natural resources to produce energy and their existing production capacity is from burning diesel fuel. That's just costly, and it's terribly dirty and inefficient. Hawaii with the climate that it has makes it a natural obvious market for solar power generation."
Electricity purchased from utility companies ranges from 35 to 40 cents a kilowatt hour in Hawaii, which is the highest rate in the U.S.
"A large part of our success is due to the focus we place in offering best-in-class service at every step of the process, and the customer loyalty that results from these efforts will no doubt prove critical to our continued growth," Serra said. "With Vivint Solar we are making the ability to convert to a greener home through solar affordable and accessible to everyone."
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