Vivint Solar secures US$280 million for residential project funding



Major US residential PV provider, Vivint Solar has secured new tax equity transactions that would enable the company to fund around US$280 million worth of PV system installations.

The company said it had already expanded operations in key markets such as California, New Jersey, Maryland and Massachusetts and would be expanding into further regions in 2014.

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“In 2013, we grew our customer base by nearly 300% with our past fundraising efforts,” said Greg Butterfield, CEO of Vivint Solar. “This new US$280 million tax equity funding enables us to continue our expansion plans to deliver affordable solar solutions to homeowners.”

According to GTM Research, Vivint Solar is the second largest US residential PV installer after SolarCity.

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