Sunnova Launches Solar + Storage Lease Service Offerings in Nine States
June 02 2021 - 06:55AM
Business Wire
Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), one
of the leading U.S. residential solar and storage service
providers, has expanded its lease service offerings, for solar +
Tesla and Generac storage systems, to nine new markets. Illinois,
Maryland, New Mexico, Pennsylvania, South Carolina, Texas, Florida,
New York and Rhode Island homeowners, will now have the flexibility
to choose between our new lease or existing loan offerings, when
selecting a solar + storage system to power their home.
Additionally, twenty-two new states will now have access to Enphase
batteries through our loan program.
“We’re here to ensure our customers have access to energy
services and financing options that make the most sense for their
unique situations and that ultimately help them achieve energy
independence,” said Michael Grasso, Chief Marketing and Growth
Officer at Sunnova. “We also want to empower Sunnova’s local
dealers to help families find the best energy options for their
individual needs, and these expansions help us realize that
goal.”
As families continue to spend more time at home and increasingly
experience power outages as we enter hurricane and wildfire
seasons, the demand for reliable and resilient energy will continue
to grow. In 2020, Sunnova’s dealers installed three times the
number of battery systems compared to 2019, and more than doubled
the number in Q1 of 2021, compared to the same quarter last year.
“Sunnova’s goal is to consistently anticipate our customers’ needs
and diversify and innovate our offerings accordingly,” said
Grasso.
This lease expansion is an addition to Sunnova’s wide suite of
offerings and will provide customers with:
- balanced billing, where they pay a flat, predictable monthly
rate based on the equipment cost,
- competitive pricing without having to apply for federal and
state incentives and rebates,
- insurance coverage taken on by Sunnova – at no extra cost,
and
- 25-year energy guarantee through Sunnova Protect®, with the
balanced billing option.
Batteries are essential for storing the excess energy produced
by a solar system and providing that stored energy for use during a
power outage. Intelligent software automatically manages the
battery system when the centralized grid goes down and seamlessly
provides reliable back-up power to the essential appliances in your
home. Decentralized and decarbonized solar + storage solutions not
only provide homeowners with resiliency but can also help
homeowners lower utility bills, while helping the respective states
reach their clean energy targets.
The Enphase battery retrofit will allow customers with an
existing home solar system to easily add energy storage. The
retrofit will take the form of a new loan offering including
25-year coverage with Sunnova Protect®, also encompassing
monitoring system production, repairs and replacements.
Learn about Sunnova’s current solar + storage promotions.
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®.
Disclaimers
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.
The amount of power available from the battery during a power
outage is limited, depending on the loads connected, customer usage
and battery configuration (i.e., batteries in certain areas may be
set up 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. To see how long your battery will
last during an outage, go to
https://www.sunnova.com/batteryduration/.
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, our goals, the
demand for reliable, resilient energy and energy storage, the
ultimate ability to achieve energy independence, increased power
outages, the ability of states to reach clean energy targets, 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 our
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210602005276/en/
Media Contact Alina Eprimian
Media Relations Alina.Eprimian@sunnova.com
Investor & Analyst
Contact Rodney McMahan Vice President, Investor
Relations Rodney.McMahan@sunnova.com 281.971.3323
Sunnova Energy (NYSE:NOVA)
Historical Stock Chart
From Feb 2024 to Mar 2024
Sunnova Energy (NYSE:NOVA)
Historical Stock Chart
From Mar 2023 to Mar 2024