Press Release Details

Vivint Solar and Porch Team Up to Help Homeowners Go Solar

Sep, 20 2018

LEHI, Utah, Sept. 20, 2018 /PRNewswire/ -- Vivint Solar, Inc. (NYSE: VSLR), a leading full-service residential solar provider, today announced a strategic collaboration with Porch Inc. ("Porch"), a nationally recognized home services platform, to offer solar energy systems to homeowners. Vivint Solar is the first solar panel provider to make its products and services available on Porch.

"Forming relationships with innovative companies helps us reach new audiences and expand our customer base," said Vivint Solar CEO David Bywater. "Our collaboration with Porch enables us to bring rooftop solar to a highly engaged community of homeowners interested in improving their home and saving money with clean, renewable energy." 

Porch is the industry-leading partner that connects homeowners with qualified professionals who can fulfill jobs ranging from handyman and electrician services to painting and roofing repair. Porch will connect homeowners directly with Vivint Solar to fulfill rooftop solar needs upon request.

Homeowners will be able to purchase a system from Vivint Solar outright or finance the purchase with monthly payments through one of the institutions Vivint Solar has relationships with, or through their preferred lender. Homeowners can also lease a system or pay for a system via a power purchase agreement (PPA) in states where these solar plans are available.

"With a national footprint and strong track record of delivering high-quality service, we know Vivint Solar is the perfect choice to help us meet the demand for our customers who are going solar," remarked Matt Ehrlichman, CEO of Porch.

Vivint Solar expects to expand the collaboration to all 22 states in which it operates by the end of the year: Arizona, California, Colorado, Connecticut, Delaware, Florida, Hawaii, Illinois, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New Mexico, New York, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Vermont and Virginia. 

About Vivint Solar 

Vivint Solar is a leading full-service residential solar provider in the United States. With Vivint Solar, customers can power their homes with clean, renewable energy and typically achieve significant financial savings over time. Offering integrated residential solar solutions, Vivint Solar designs and installs the solar energy systems for its customers and offers monitoring and maintenance services. In addition to being able to purchase a solar energy system outright, customers may benefit from Vivint Solar's affordable, flexible financing options, power purchase agreements, or lease agreements, where available. For more information, visit www.vivintsolar.com or follow @VivintSolar on Twitter.

About Porch

Launched Sept 2013 as an online home improvement network connecting homeowners with qualified professionals, Porch has grown into the industry leading partner for the home. With more than 300,000 active professionals across the U.S., Porch partners with large retailers like Walmart, Lowe's, and Pottery Barn to provide home services fulfillment for their customers, as well as direct-to-consumer access to every home service through Porch.com. Focused on assisting customers at every stage of the "home journey" – including moving in, installations, assembly, repairs and ongoing maintenance – last year alone, the company facilitated over 2 million home-related projects, generating approximately $1 billion in revenue for small business owners and sole proprietors in specialty areas such as plumbing, roofing, electrical work, carpentry, and more.

Note on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These statements are based on current expectations and assumptions regarding future events and business performance as of the date of this press release, and they are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Although Vivint Solar believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in those statements will be achieved or will occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Except as required by law, Vivint Solar does not undertake and expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. You should read the documents Vivint Solar has filed with the Securities and Exchange Commission ("SEC") for more complete information about the Vivint Solar. These documents are available on both the EDGAR section of the SEC's website at www.sec.gov and the Investor Relations section of Vivint Solar's website at investors.vivintsolar.com/.

 Press Contact

Vivint Solar
Helen Langan
Senior Director of Communications 
385-202-6577
pr@vivintsolar.com

Porch
Amanda Wooley
Senior Communications Manager, Porch
PR@Porch.com
Phone: 360.319.1738

 

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SOURCE Vivint Solar

Stock Price

NYSE: VSLR 5.76 +3.6% Change: +0.20 Volume: 348,651 View details November 16, 2018

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Contact

Investors

Rob Kain
Vice President, Investor Relations
855-842-1844
ir@vivintsolar.com

Press

Helen Langan
Director, Public Relations
385-202-6577
pr@vivintsolar.com

Government Affairs

Erica Dahl
Vice President, Government Affairs
385-455-5501
erica.dahl@vivintsolar.com