Vivint Solar (NYSE: VSLR), a leading full-service residential solar provider, announced the installation of more than 2,700 rooftop solar panels at Vivint Smart Home Arena, which is the home of the Utah Jazz and the premier sports and entertainment venue of the Intermountain West, located in downtown Salt Lake City. This full array of solar panels marks one of the largest rooftop solar energy systems among indoor sports venues in the United States.
Covering more than 80,000 square feet on the arena rooftop and generating nearly 700 kilowatts of energy, the panels were provided by Vivint Solar and installed by Hunt Electric. This solar installation is one of the initial upgrades made as part of an ongoing $125 million renovation by the Larry H. Miller Group of Companies of Vivint Smart Home Arena, which is now among the first professional sporting venues capable of generating its own energy.
“The top-to-bottom renovation of the arena has begun on the roof with the installation of solar panels, which reflects our desire to implement sustainable practices,” said Jim Olson, president of the Vivint Smart Home Arena. “The overall building transformation will incorporate environmental and energy improvements, enhance the experience for our guests, and return the arena to a first-class venue.”
The new system is the equivalent to completely offsetting the electricity for 100 homes per year or powering approximately 89 home games for the Utah Jazz. It is expected to produce enough energy to equal one million pounds of coal or the benefit of planting of 5,000 trees. Vivint Solar and the Larry H. Miller Group of Companies have worked together to bring nearly three quarters of a megawatt solar energy system to a city that is ranked sixth in the nation by the American Lung Association for poor air quality.
“Working with the Larry H. Miller Group to make Vivint Smart Home Arena a solar-powered venue is an exciting accomplishment,” said Vivint Solar CEO David Bywater. “It’s not only contributing to the arena’s technological renovations, but it’s a clean energy decision that is going to make a huge environmental impact on a community deeply affected by the inversion. We hope it encourages other venues to choose clean, renewable energy as a major source of electrical power.”
Vivint Solar, a sister company of Vivint Smart Home, has become a leader in the solar industry with over 575 megawatts installed in 14 different states across the country.
“It was a privilege to couple our long-standing relationships with the Larry H. Miller Group and Vivint Solar to design and build a unique solar-powered solution for Vivint Smart Home Arena,” said Richard Hunt, Hunt Electric CEO. “We are proud to support this endeavor and emphasize our commitment to sustainability through transforming energy consumption for our customers. The scale and environmental impact of the installation is remarkable as it reduces the toxic load on our air quality by the equivalent of 31.7 million miles of vehicular traffic.”
About Vivint Solar
Vivint Solar is a leading provider of distributed solar energy – electricity generated by a solar energy system installed at a customer’s location – to residential customers in the United States. Vivint Solar’s customers pay little to no money upfront, typically receive significant savings relative to utility generated electricity and continue to benefit from guaranteed energy prices over the 20-year term of their contracts. Vivint Solar finances, designs, installs, monitors and services the solar energy systems for its customers. Vivint Solar also sells solar energy systems; customers can pay cash of finance the purchase through one of Vivint Solar’s industry-leading finance partners. For more information, visit www.vivintsolar.com or follow @VivintSolar on Twitter.
Note on Forward-looking Statements
This press release contains forward-looking statements as defined within the meaning of the federal securities laws. 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, including but not limited to the risks set forth in the registration statements and reports that Vivint Solar files with the U.S. Securities and Exchange Commission, which are available on the Investor Relations section of our website at www.vivintsolar.com. Vivint Solar does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
