Vivint Solar (NYSE: VSLR), today (3/5) announced financial results for the fourth quarter and full year ended December 31, 2018.
Fourth Quarter 2018 Operating Highlights
Key operating and development highlights include:
- MW Booked of approximately 63 MWs for the quarter.
- MW Installed of approximately 54 MWs for the quarter. Total cumulative MWs installed were approximately 1,061 MWs.
- Installations were 7,730 for the quarter. Cumulative installations were 154,598.
- Estimated Gross Retained Value increased by approximately $62 million during the quarter to approximately $2.0 billion. Estimated Gross Retained Value per Watt at quarter end was $2.06.
- Cost per Watt was $3.12, a decrease from $3.21 in the third quarter of 2018 and an increase from $2.95 in the fourth quarter of 2017.
Financing Activity
As of December 31, 2018, the company had $325 million in undrawn capacity in the aggregation facility, $72 million in undrawn capacity in the forward flow loan facility, and approximately 84 MWs of available installation capacity remaining in its tax equity funds.
