Vivint Solar said that ‘retained value’ increased by approximately US$11kw off grid solar system 13 million during the quarter to approximately US$793 million, up 99% year on year. 'Estimated retained value' per-watt was US$1.98.

The company reported a higher cost per watt of US$3.12 compared to US$3.00 1kw off grid solar system in the second quarter of 2015 and flat compared to the third quarter of 2014.

Total revenue for the quarter was US$22.5 million, compared to US$16.1 in t1kw off grid solar system he prior quarter and up 170% from US$8.3 million in the third quarter of the prior year. Net loss for the quarter was US$50.3 million.

Operating leases and incentives revenue was US$21.8 million, up 205% from US$7.1 million in the third quarter of the prior year.

US installer Sunrun is to trial a new automated solar permitting system as pa1kw off grid solar system rt of a range of cost-cutting projects funded by the Department of Energy.

The department yesterday announced US$22.7 million to help bring to market new technologies aimed at reducing the costs of solar in the country.

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