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Vivint Solar, Inc. (NYSE: VSLR), a leading full-service residential solar provider, accepted a Green Business Award from Utah Business Magazine for its efforts to achieve a compromise for rooftop solar in the state. The award program recognizes companies and organizations that have contributed to the greater wellbeing of Utahns through corporate initiatives, green leadership, innovation, community impact or energy conservation.

"We are honored to receive this distinguished award in our home state," said Vivint Solar CEO David Bywater. "We're proud to stand alongside those who are finding creative and innovative ways to address Utah's most pressing sustainability issues."

In November 2016, Vivint Solar was party to a regulatory proceeding at the Public Service Commission of Utah that could have seriously harmed the rooftop solar industry and residential rooftop solar customers. Vivint Solar, solar advocates and the Utah solar industry asked Governor Gary Herbert for help to negotiate a reasonable outcome.

After months of negotiations, Vivint Solar, Rocky Mountain Power, the solar industry, solar advocates, and the state agencies agreed to a compromise solution in October 2017 to protect existing solar customers and to preserve Utahns' ability to choose rooftop solar in the future.

As part of the settlement, the rooftop solar industry, solar advocates, the Utah Division of Public Utilities, the Utah Office of Consumer Services, Rocky Mountain Power and environmental stakeholders agreed to a three-year process to determine the true value of rooftop solar and its long-term benefits to all ratepayers and Utah.

David Bywater joined Governor Herbert at the signing ceremony, where the governor lauded the settlement as a model of consensus building, saying, "We have a lot of issues in the state of Utah where we hope we could come together and have a frank, open conversation with civility. That's what happened here."