Thank you for choosing JustAnswer. Before I start, please answer the following questions.Have you tried different power outlets(without the surge protector, if you are using any)?Do you hear any "popping" or clicking noise?How old is the set?
First unplug the set for 4-5 hours. It acts like a reset and MIGHT fix the problem. This happens when there is a fault in the power supply board. I'd ask you to inquire about the warranty because the set is less than a year old and VIZIO will fix your set for free. There might be bad or burnt components such capacitors or rectifiers or fuse. Most of the times there are swollen caps or burnt resistors which need replacement. The bad components are a result of heat or cold solders etc. If you remove the main board(the one carrying the inputs) from the power board and the power stays ON, then its either the main board. When there is no glowing/blinking front light we check the main fuse of the power board(it is near the point where the power cord leaves the set) In your set the inverter will be incorporated with the power board. Prior to these you have to open the back and clean the dust and let the set cool down.
The capacitors are of rating like 1000mfd 25V. If you replace them by yourself, make sure that 1000mfd(microfarad) remains constant and the voltage is atleast 25V. A bulged capacitor looks like the one in the image below.
If you wish to take it to a repair shop it would cost you around $200-$250. You can use http://national.citysearch.com/ and search for "TV Repair"(without quotes) in your area.Or you can use http://www.tvrepairpros.com/Or you can buy the parts using the part no. I always recommend my clients to contact dealer before making a purchase. If you want to repair it yourself then you should be having proper knowledge about the internal circuitry of the TV.You should also require a multimeter and soldering equipments and schematics.
Take photographs or mental picture of connections with power board before replacing so that it won't be confusing later. I'm sorry there is no easy fix or press-a-button fix. This is an internal failure. Click on the highlighted word below for the link to open.
Hope it helps. If you have any other queries then I would be glad to assist you further.