Vivint Smart Home Brings Smart Energy Production Data to Vivint App

Rhea-AI Summary

Vivint Smart Home (NYSE: VVNT) has introduced a new feature for its Smart Energy customers, allowing them to monitor solar energy production and environmental impact through the Vivint app. This integration provides customers with data on energy generation, savings compared to grid energy, and environmental benefits. Initially available to users with Enphase and SolarEdge inverters installed by Freedom Forever, this feature enhances the smart home experience and aims to empower customers with valuable energy usage insights.

Positive

• Launch of solar energy monitoring feature in Vivint app to enhance customer experience.
• Integration allows customers to track energy generation and potential savings.
• Focus on expanding Smart Energy services aligns with industry growth.

Negative

• Feature initially limited to customers with specific inverter types (Enphase and SolarEdge).

Vivint customers will now be able to monitor their solar energy production and environmental impact directly via the Vivint app

PROVO, Utah--(BUSINESS WIRE)-- Vivint Smart Home, Inc. (NYSE: VVNT), a leading smart home company, today announced a new feature for Vivint Smart Energy customers that allows them to view solar production data from their solar panels directly in the Vivint app. This feature is the next step in further integrating solar energy into the Vivint Smart Home experience and helping customers achieve a smarter, greener, and safer home that saves them money.

Monitored directly through the Vivint app, Vivint customers will have the ability to view the production of clean energy produced by their solar systems, including data on how much energy their panels generate, insights into how well their energy production is working, their potential savings over using energy from the grid, and what kind of environmental impact their system is having.

“Smart Energy has been a major focus for us over the past couple of years as we look to expand our industry-leading smart home experience for our customers,” said Evan Pack, senior vice president of energy at Vivint. “This new integration is another step towards making the home smarter as well as empowering our customers with the data they need to be smarter with their energy use. We’re excited to bring this new feature to customers and look forward to adding more features in the future.”

The new feature integrates solar panel data directly into the Vivint app, so customers are able to view all of the information about their systems in one place, creating a seamless experience and highlighting the value of their solar systems. The feature will be available to existing Vivint customers with an Enphase inverter and to customers with SolarEdge inverters that are installed by Freedom Forever, with plans to expand to additional customers in the near future. Customers will begin seeing their solar data populate in the Vivint app over the coming days.

For more information about Vivint Smart Energy, visit: vivint.com/solar

About Vivint Smart Home
Vivint is a leading smart home company in the United States. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24/7 customer care and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1.9 million customers throughout the United States. For more information, visit https://www.vivint.com.

Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, including statements regarding, among other things, the Company’s plans, strategies and prospects, both business and financial, including without limitation statements regarding, among other things, the Company’s plans and strategies around Vivint Smart Energy, the technical effectiveness and financial or other benefits to customers of solar systems purchased through Vivint Smart Energy including the availability of and benefits associated with a Vivint Smart Energy customer’s ability to view solar production data from their solar systems directly in the Vivint app. Generally, statements that are not historical facts, including statements concerning the Company’s possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or similar expressions. 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, including to those discussed in "Risk Factors" and elsewhere in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2021, which was filed on March 1, 2022, as such factors may be updated from time to time in the Company’s periodic filings with the SEC, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Although Vivint Smart Home believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in those statements will be achieved or will occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Except as required by law, Vivint Smart Home does not undertake and expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. You should read the documents Vivint Smart Home has filed with the SEC, including the Form 10-K/A and the Company’s other periodic filings, for more complete information about Vivint Smart Home. These documents are available on both the EDGAR section of the SEC's website at www.sec.gov and the Investor Relations section of Vivint’s website at www.vivint.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221128005033/en/

Media Contact (Vivint):

Heidi Mendez

Vivint Public Relations

press@vivint.com

Source: Vivint Smart Home, Inc.

FAQ

What is the new feature launched by Vivint Smart Home?

Vivint Smart Home launched a solar energy monitoring feature within its app, allowing customers to track solar production and environmental impact.

Who can access the new solar energy monitoring feature?

The feature is available to Vivint customers with Enphase inverters and SolarEdge inverters installed by Freedom Forever.

How does the new feature benefit Vivint customers?

It provides customers with insights into their solar energy generation, potential savings, and environmental impact.

When will customers start seeing solar data in the Vivint app?

Customers will begin to see their solar data populate in the Vivint app over the coming days.