Vivint Solar and Renovate America partner on rooftop solar offering

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Vivint is now offering Renovate America's Home Energy Renovation Opportunity (HERO) program. Credit: Vivint Solar

US-based residential PV provider Vivint Solar and financing firm Renovate America are partnering on a scheme to help US homeowners get access to rooftop solar.

Renovate America is a leading provider of residential Property Assessed Clean Energy (PACE) financing. Vivint is now offering Renovate America's Home Energy Renovation Opportunity (HERO) program, which also helps finance solar and energy efficiency systems, as its PACE financing option.

Homeowners will be able to use HERO financing to purchase Vivint Solar systems and pay for them over time through their local property taxes. Payments are made at a fixed interest rate for terms of 5-20 years, and the interest on the payments may be tax deductible. Meanwhile, should the original residents move out of the property, any remaining balance on the assessment may transferable to any new home owners.

Vivint is now rolling out the HERO Program throughout California. Both companies are also working with state and local governments to expand their product offering nationwide.

Thomas Plagemann, executive vice president of capital markets at Vivint Solar, said: “We are excited to work together with Renovate America to provide this innovative solar financing product that will make solar available to a wider range of consumers, including those who either do not have the upfront capital for a solar energy system or for whom traditional loans, Power Purchase Agreements or Solar System Lease Agreements are not viable options.”

Read Next

January 21, 2022
Toronto-based renewables developer Amp Energy has closed on a US$350 million credit facility to advance on a global portfolio of renewables and battery energy storage assets.
PV Tech Premium
January 18, 2022
Solar project developer Eco Energy World is aiming to “aggressively” grow its US PV pipeline after formally entering the market last week and intends to replicate the cheaper engineering, procurement and construction (EPC) costs it sees in Europe in the country. PV Tech Premium speaks to CEO Svante Kumlin to find out more.
January 16, 2022
The US Government has appealed against the reinstatement of an exemption from Section 201 tariffs for bifacial modules.
January 14, 2022
The US Department of Energy (DOE) has launched a “Building a Better Grid” initiative to catalyse the development of “new and upgraded high-capacity electric transmission lines” across the US under President Joe Biden’s US$1 trillion Bipartisan Infrastructure Law.
January 13, 2022
Lightsource bp has closed on a US$533 million financing package for the development of 480MW of solar PV across the US as the company continues to expand its operations in the country.
January 12, 2022
Global Infrastructure Partners (GIP) alongside co-investors has closed on a US$500 million investment in independent power producer (IPP) BrightNight LLC to fund the company’s development efforts as well as the construction and operations of its projects.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal