Vivint Solar vs. Verengo Solar: Which One Is Right For You?

Vivint Solar

 

Vivint Solar Inc. was launched in 2011 under the umbrella of its parent company, Vivint, Inc., which primarily supplies home security systems. In 2014, Vivint went public and entered the New York stock exchange. Vivint currently operates in 12 states:

• Arizona
• California
• Connecticut
• Hawaii
• Maryland
• Massachusetts
• New Jersey
• New Mexico
• New York
• Pennsylvania
• South Carolina
• Utah
• Washington, DC

In 2013, Vivint was the second most popular solar power provider in the United States.

What Do Vivint Solar Panels Cost?

Vivint solar panels and installation are free if you sign a power purchase agreement (PPA). A PPA means that you’re agreeing to buy the power that the solar panels produce for the life of the contract, which is 20 years. The monthly payment depends on your state, location, and home size, so you’d have to speak to a Solar Panel Quotes agent to get an exact estimate. But on average, consumers have reported paying 20% to 30% less than their electric utility bill.

Vivint Price Per Watt

$3.18

Can I Lease Vivint Solar Panels?

Yes, Vivint offers a PPA and a lease option. Both are very similar, although a PPA will typically offer a flat monthly fee, whereas a lease is a flat fee plus any extra solar electricity you use.

What About A Free Installation?

Yes! Vivint offers free installations.

What If I Move House?

If you move, you can transfer your lease or PPA to the next tenant.

Is There Anything Else I Should Know?

I don’t want to typecast you, but if you’re seriously considering solar power, you may be somewhat of an environmentalist. While Vivint Solar is green, Vivint, Inc. was acquired by the Blackstone Group in 2015 for $2 billion dollars. The Blackstone Group is no environmental champion, and many of their companies (which includes SeaWorld) have been known to engage in unsustainable practices.

Next: What you need to know about Verengo Solar