Vivint Solar rides high on Q1 performance


Utah-based Vivint Solar – a leader in residential solar installations across the U.S. – has announced extremely positive first quarter financial results for 2015.

The solar company increased its year-on-year revenue by 172% in Q1 2015, reaching $9.5 million compared to $3.5 million posted in Q1 2014. Vivint installed 46 MW of solar PV in the first quarter, a 131% increase in the space of 12 months that took the company’s installed portfolio to 274 MW. A further 50 MW is in the pipeline, according to the company.

Cumulative installations across the States now stands at 42,146 following a 100% year-on-year increase that saw 6,426 new customers added in the first quarter. Estimated nominal contracted payments remaining – a metric used by the lease provider to calculate future income – was boosted by a further 146% in the first quarter, taking the total future revenue figure to $1.2 billion.

In turn, this performance increased Vivint’s retained value per watt by 138%, reaching $2.05/W, with the company stepping up its operating expenses significantly in order to continue its expansion: expenses grew from $33.4 million in Q1 2014 to $58.2 million in Q1 2015.

Over the course of the first quarter, Vivint was able to attract investment from private funds totaling $350 million, which the company calculate can be used to install solar energy systems with a value of approximately $865 million, or 193 MW of future deployments.

Vivint also revealed that it has a "commitment letter" from two investors for a new $100 million fund which, once finalized, would underpin a further solar energy installation expansion of around 63 MW, worth a market value of $285 million.

For the second quarter of the year, Vivint forecasts MW installations to grow to between 63 MW and 67 MW, generating total revenue of $14 – $15 million. Over the course of 2015, Vivint was happy to reiterate its earlier guidance of 290 – 310 MW installed.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.