Sunnova and Generac Team up to Provide Homeowners With Greater Energy Independence
February 12 2020 - 08:30AM
Business Wire
Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a
leading U.S. residential solar and storage service provider, today
announced a strategic partnership with Generac Power Systems, Inc.
(“Generac”) (NYSE: GNRC), a leading global designer and
manufacturer of energy technology solutions and other power
products.
In addition to leveraging both companies’ extensive dealer and
installer networks, the partnership will make Sunnova the exclusive
Lease and Power Purchase Agreement (PPA) provider for the PWRcellTM
energy storage system (“PWRcell system”) sold by contractors using
Generac’s PowerPlay design and quoting platform in the U.S. and its
territories.
Sunnova and Generac will offer Generac’s PWRcell system with
Sunnova’s Lease, PPA, Loan and other financing agreement offerings
through Sunnova’s approved vendor list. Sunnova is the only Generac
partner to bring a 25-year service agreement to the PWRcell system,
which is the longest term for a Generac partner. The PWRcell system
will provide homeowners greater flexibility to install and size
their storage capacity by offering customers the option of a
modular battery system so that they can customize their solar
storage needs.
“We want to empower our customers to find the solar and storage
solutions that best fits their energy needs, and we believe our
partnership with Generac will provide even more top-quality storage
options to a broader array of homeowners,” said Michael Grasso,
EVP, Chief Marketing Officer at Sunnova. “Generac’s strong consumer
brand and history of powering homes during critical times directly
aligns with our mission: to Power Energy Independence. Generac’s
PWRCell system, paired with Sunnova’s comprehensive suite of solar
products and services, will advance our vision of bringing solar to
more and more homes across America.”
“We are excited to work with Sunnova, a market leader in the
sales, installation and servicing of solar and storage systems,”
said Russ Minick, Chief Marketing Officer at Generac. “Sunnova’s
service offerings combined with Generac’s PWRcell technology and
our vast network of installers make energy storage solutions
accessible to even more homeowners.”
ABOUT SUNNOVA®
Sunnova Energy International Inc. (NYSE: NOVA) is a leading
residential solar and energy storage service provider, with
customers across the U.S. and its territories. Sunnova's goal is to
be the source of clean, affordable and reliable energy, with a
simple mission: to power energy independence so that homeowners
have the freedom to live life uninterrupted™. For more information,
please visit sunnova.com.
ABOUT GENERAC:
Generac Power Systems, Inc. is a leading global supplier of
backup power and prime power products, systems, engine-powered
tools, and energy storage systems. In 1959, our founder was
committed to designing, engineering and manufacturing the first
affordable backup generator. More than sixty years later, the same
dedication to innovation, durability and excellence has resulted in
the company’s ability to expand its industry-leading product
portfolio into homes and small businesses, on job sites, and in
industrial and mobile applications across the globe. Generac offers
single engine backup and prime power systems up to 2 MW and
paralleled solutions up to 100 MW, and uses a variety of fuel
sources to support power needs for our customers. Generac hosts
Power Outage Central, the definitive source of U.S. power outage
data, at Generac.com/poweroutagecentral. For more information about
Generac and its products and services, visit www.generac.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements generally relate to future
events or Sunnova’s future financial or operating performance. In
some cases, you can identify forward looking statements because
they contain words such as "may," "will," "should," "expects,"
"plans," "anticipates,” “going to,” "could," "intends," "target,"
"projects," "contemplates," "believes," "estimates," "predicts,"
"potential" or "continue" or the negative of these words or other
similar terms or expressions that concern Sunnova’s expectations,
strategy, priorities, plans or intentions. Forward-looking
statements in this release include, but are not limited to,
statements regarding the PWRcell energy storage system providing
homeowners greater flexibility installing and sizing their storage
capacity; Sunnova’s belief that the partnership will provide even
more top-quality storage options to a broader array of homeowners;
that Generac’s PWRCell energy storage system, paired with Sunnova’s
comprehensive suite of solar products and services, will advance
Sunnova’s vision of bringing solar to more and more homes across
America; and that Sunnova’s service offerings combined with
Generac’s PWRcell technology and Generac’s vast network of
installers make energy storage solutions accessible to even more
homeowners. Sunnova’s expectations and beliefs regarding these
matters may not materialize, and actual results in future periods
are subject to risks and uncertainties that could cause actual
results to differ materially from those projected, including risks
regarding our ability to forecast our business due to our limited
operating history, our competition, fluctuations in the solar and
home-building markets, our ability to attract and retain dealers
and customers and our dealer and strategic partner relationships.
The forward-looking statements contained in this release are also
subject to other risks and uncertainties, including those more
fully described in Sunnova’s filings with the Securities and
Exchange Commission, including Sunnova’s prospectus filed to
provide you with the best economic benefit, which may affect the
amount of back-up power available). Solar systems and/or batteries
may require repairs after weather events and such repairs may be
delayed due to forces outside of our control. No assurances can be
given that the solar system or the battery will always work. You
should never rely upon either of these to power life support or
other medical devices. 6. Limitations apply. Refer to warranty
agreement for details. pursuant to Rule 424(b) under the Securities
Act of 1933, as amended, on July 26, 2019 and in Sunnova's other
filings with the SEC, which are available free of charge on the
SEC's website at: www.sec.gov. The forward-looking statements in
this release are based on information available to Sunnova as of
the date hereof, and Sunnova disclaims any obligation to update any
forward-looking statements, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200212005461/en/
Kelsey Hultberg, kelsey.hultberg@sunnova.com Ashley Kast,
akast@punch-pr.com | 608-633-2404
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