Sunnova Brings Solar and Storage to Ohio and North Carolina
April 20 2021 - 4:40PM
Business Wire
Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), one
of the leading U.S. residential solar and storage service
providers, announced today it will begin offering its services in
Ohio and North Carolina. Both states will have access to Sunnova’s
SunSafe® solar + battery storage service, and +SunSafe® add-on
battery service, which will allow homeowners to maintain energy
resiliency in the face of potential grid crises and rising
electricity rates. Sunnova will also be the first national
residential solar and energy storage service provider with
extensive 25-year system and battery coverage to offer its services
in Ohio1.
“Sunnova is proud to be first in Ohio. The state’s solar prices
have fallen 45 percent in the last five years as per Solar Energy
Industries Association’s data, and our goal is to enhance Ohio’s
access to clean, affordable energy and help the state reach its
renewable energy targets,” said Michael Grasso, Chief Marketing
Officer of Sunnova. “As we expand to new markets and grow our
customer base, we are also looking forward to growing our key
network of dealers which means supporting more renewable energy
jobs.”
Between 2015 and 2019, the amount of time Ohio residents lost
power each year nearly doubled2. Sunnova’s SunSafe and +SunSafe
services in Ohio and North Carolina will increase homeowners’
energy independence by allowing them to produce their own clean
energy and store excess in the battery for later use. As soon as
the grid is down, homeowners can simply switch to using the stored
energy and run the electrical appliances of their choosing3.
“North Carolina is a key market for us; the state has set solid
goals to reduce its carbon emissions by 2030 and rooftop solar is a
critical part of the solution,” continued Grasso. “North Carolina
is only second to Florida in the number of tropical cyclone
landfalls which have caused hundreds of thousands of North
Carolinians to lose power. Sunnova is not only looking to help
relieve the grid stress that can arise from such extreme weather
events but more importantly, we want to provide homeowners the
energy reliability and resiliency they need to keep their families
safe.”
According to the U.S. Energy Information Association, North
Carolina and Ohio have seen their electricity rates rise by 15% and
16% respectively from 2009 to 2019. Sunnova’s services will help
homeowners take control over their energy costs. By going solar
with Sunnova under the Easy Own PlanTM loan, homeowners will no
longer need to guess what the utility provider will be charging
them next month or six months down the line, they will always know
the cost of solar with Sunnova.
Customers in both states will also be covered by Sunnova
Protect™, featuring worry and hassle-free maintenance, monitoring,
repairs, and replacements for their solar systems and batteries4.
Sunnova’s +SunSafe add-on battery service can also be added to
homes that have existing solar systems, allowing the company to
power energy independence and the customer to live life
uninterrupted.
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 our expansion into new markets, increase in
customer base, dealers, and growth, and other statements regarding
the future. 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 implement of business plan, the impact of
COVID-19, our ability to successfully integrate the SunStreet
Energy Group, LLC acquisition, 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 annual
report on Form 10-K for the year ended December 31, 2020. 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.
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®.
1 Refer to the Limited Warranty agreement for complete warranty
terms and limitations, including the specifications for energy
retention over the life of the battery 2 The reliability trend is
based on the comparison of the SAIDI data [“SAIDI with MED” column]
from the EIA “Reliability” reports from 2015 – 2019 for all data
points related to the state of OH. Annual reliability data for each
market are available in zip files located at
https://www.eia.gov/electricity/data/eia861 3
https://www.sunnova.com/batteryduration/ 4 Refer to your Limited
Warranty agreement for your complete warranty terms and
limitations
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version on businesswire.com: https://www.businesswire.com/news/home/20210420006173/en/
Media Contact Alina Eprimian
alina.eprimian@sunnova.com
Investor & Analyst
Contact Rodney McMahan Vice President, Investor
Relations Rodney.McMahan@sunnova.com 281.971.3323
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