Vivint Solar, provider of simple and cost-effective solar energy systems, has announced that a subsidiary of U.S. Bancorp, parent company of U.S. Bank, has given it a commitment for renewable energy tax equity in support of the $75 million that will be directed towards establishing residential solar energy systems across the United States. The funding commitment will support financing for a projected 2,400 residential solar installations pipeline that will span New Jersey, Utah, Hawaii, and New York.

In a release, Dan Siegel, assistant vice president of Renewable Energy Investments for U.S. Bancorp, said that, “With Vivint’s existing product lines and customer service platform, we are confident this solar energy offering will be a success. We look forward to future opportunities such as this.”

Consumers across the U.S. are provided with simple and cost-effective solar energy systems from Vivint Solar. The company which installs monitors and maintains residential solar panels, provides residential consumers with solar panel generated power at a lower rate than what they shell out to their utility. Additionally the company employs a well-trained sales and installation team which enhances its service offering for consumers.

Consumers also have the option to set a lower monthly rate for a period of 20 years during which time Vivint Solar takes over the responsibility of installing, monitoring, and maintaining the panels for its customers. The company collaborates with a number of solar vendors across the industry. These include Enphase Energy, provider of microinverter, and Zep Solar, supplier of mounting system.

Tanguy Serra, president of Vivint Solar, said that, “We are excited to partner with U.S. Bancorp to offer consumers a simple, affordable solar product with best-in-class equipment. This partnership puts our company in an excellent position to bring the benefits of solar energy to a broader range of consumers.”

Vivint Solar has established for itself a reputation as one of the leading providers of simple and cost-effective solar solutions and was one of the first implementers of the power purchase agreement (PPA) model. The company delivers its customers with award-winning service and support which is both cost-effective and is environment friendly. 

In other news, Vivint Solar recently announced the availability of simple, affordable consumer solar solutions, supported by a unique service model that provides even more benefits for residential solar energy customers.