Vivint Solar Inc. (VSLR) 2017年年度报告「NYSE」.pdf

1、2017 Annual ReportPowering People.Letter to Stockholders2017 Annual Report May 1,2018 Dear Shareholders,As we exit 2017 and begin 2018,the overall business principles of Vivint Solar remain the same.We remain focused on generating stronger unit economics,creating more efficient operations,delivering

2、 a bettercustomer experience,driving innovation,and generating attractive investor returns.We believe that by adhering to these guiding principles,we will have the most sustainable and well run residential solar companyin the industry.During the year,we made significant progress in a dynamic industr

3、y that has evolving customer desires,ahighly competitive landscape,and a changing regulatory environment.To meet growing customer demand to own their solar systems,we designed and implemented offerings in each of the markets we serve allowingcustomers to purchase their system outright.To better addr

4、ess the highly competitive landscape in the industry,we began working with our sister company,Vivint Smart Home,Inc.,leveraging its salesforce to generate customer leads for us.To help shape the regulatory environment,we were very engaged in state and federal regulatory processes,helping to mitigate

5、 potential regulatory risks to the industry.We have beenproactive in changing our business activities to maximize our long-term goals.Much of the progress we made in 2017 can be seen in the financial and operating metrics we reported.Ourrevenue for the year was over$268 million,up 98%from 2016.We in

6、stalled 184 megawatts for over 27,000 customers.On a cumulative basis,Vivint Solar has installed 865 megawatts for over 126,000 customers.Wedid this while becoming more efficient as our cost per watt decreased from$3.04 in 2016 to$2.94 in 2017.With our more efficient operations,our gross margin for