At the time of the merger, Vivint Solar had installed a total of 1.29 gigawatts of power for over 188,000 customers[3] in 23 U.S. states (Arizona, California, Colorado, Connecticut, Florida, Hawaii, Illinois, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New Mexico, New York, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Vermont, and Virginia).[4][5]
Vivint Solar was founded in October 2011 as the solar division of the home automation and security company Vivint.[6] The company marketed solar as part of its Smart Home product, with customers able to track energy consumption to save electricity.[7]
In July 2015, SunEdison announced plans to buy Vivint Solar for US$2.2 billion,[14] but the deal fell through by March 2016 with Vivint Solar suing for a "willful breach" of the planned merger. Shortly after, SunEdison entered bankruptcy.[15]
The company entered the home energy storage market in 2017, announcing a partnership with Mercedes-Benz Energy to offer home storage batteries.[20][21] The partnership was announced less than a year later, with LG Chem becoming the company''s battery provider.[22]
In 2018, The Attorney General of New Mexico filed a lawsuit against Vivint Solar, Inc. saying it was engaging in unfair and unconscionable business practices including clouding titles to consumers'' homes, fraud and racketeering.[23] Later in 2018, Vivint counter-sued the New Mexico Attorney General.[24][25]
In July 2020, Sunrun announced that it would acquire Vivint Solar for $3.2 billion.[26] By early October 2020, the acquisition was completed following the approval by regulators and stockholders of both companies, creating a valuation of approximately $22 billion.[27]
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Vivint is headquartered in Lehi, Utah, and operates in 22 U.S. states. If Vivint is not available in your area, call the number on your screen to speak with a solar advisor to find other options.
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