Sunnova Grows its Virtual Power Plant Network to Support the Grid and Compensate Customers
April 03 2024 - 7:00AM
Business Wire
Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), an
industry-leading adaptive energy services company, announced
continued investments and expansion to its virtual power plant
(VPP) network, providing increased reliability, reduced emissions,
and lower costs.
With its VPP investments, Sunnova is boosting accessibility in
California, Connecticut, Massachusetts, New York, Puerto Rico,
Rhode Island, and Texas to enable customers to rapidly access
stored battery power during periods of peak demand – and in some
cases send excess power back to the electrical grid – reducing
strain on the grid and minimizing blackouts.
The clean power produced by Sunnova’s rooftop solar and battery
storage customers helps offset the need for utilities to use
heavily polluting traditional power plants during peak demand
periods. In return for their demand battery response and
contribution, customers are compensated for the power supplied by
their batteries in most programs.
“We are revolutionizing the role of solar and storage while
putting money back into our customers’ pockets – and the response
has been overwhelming,” said William J. (John) Berger, Sunnova’s
chief executive officer. “Our customer base of more than 419,000
comprises an estimated 1-gigawatt hour of storage capacity, and
this vast clean power source will go a long way in supporting
struggling grids, decarbonizing our energy systems, and
compensating participating customers – creating a win-win-win for
everyone involved. The future of home energy services is here.”
One recent example of Sunnova’s VPP leadership is demonstrated
through the LUMA Battery Emergency Demand Response Program (BEDRP)
in Puerto Rico. As the leading residential solar and battery
storage services company in Puerto Rico, Sunnova currently manages
more than 1,000 enrolled customers, where capacity of approximately
10 megawatt hours is provided to supplement LUMA’s resilience
against outages. By voluntarily participating in the program
through the Sunnova Flex Power Program, Sunnova customers play an
active role in bolstering the grid and supporting a reliable power
supply for Puerto Ricans.
“Electricity demand is being driven to record levels and the
power grid is not ready – but VPPs can offer critical help,” said
Berger. “We see VPPs as insurance for the grid, as they are ready
now to provide power in times of need and tackle the impending
challenges ahead of a constrained electric system. We are proud to
be expanding our VPP service to help customers combat the
skyrocketing price of electricity and shore up the grid in times of
need.”
When the grid is under stress, Sunnova receives LUMA’s signal
and discharges enrolled battery storage via the Sunnova Sentient™
platform, reducing grid demand, minimizing blackouts, and keeping
the power on. As of March 2024, this Sunnova VPP has helped prevent
five grid outages that could have potentially impacted several
hundred thousand homes on the Island. The company’s VPP has also
been used to provide additional reserve to the grid in moments when
generation has been running below recommended reserves. Today’s
announcement highlights how this success can be replicated across
the country.
“Our customer base is rapidly expanding, and we're at a pivotal
moment in enrolling customers into VPPs,” said Michael Grasso,
Sunnova’s Chief Revenue Officer. “This comes at a time when energy
storage is increasingly becoming mainstream, and the delivery of
grid services through our VPP is becoming an everyday activity.
Sunnova is proud to be at the tip of the spear when it comes to
these revolutionary VPP programs, and we’re proud to not only help
our customers but to help improve the overall resilience of our
country’s energy grids.”
Under today’s announcement, Sunnova has expanded its operational
VPP offerings to several programs nationwide, including:
- California – Power Grid Protect and Emergency Load
Reduction Program
- New York – Battery Reward incentive program
- Northeast – Connected Solutions Demand Response Programs
(Massachusetts, Rhode Island, and Connecticut)
- Puerto Rico – Sunnova Flex Power Program through the
LUMA Battery Emergency Demand Response Program
- Texas – Adaptive Retail Energy Plan (ERCOT)
“As policymakers begin to see the success of existing VPP
programs nationwide, they are rapidly moving to establish and
implement similar VPP initiatives with the goal of enhancing grid
resilience and saving ratepayers money amidst surging energy
demands,” said Meghan Nutting, Sunnova’s Executive Vice President,
Regulatory and Government Affairs. “With an impressive 24% battery
attachment rate among new customer originations last quarter, our
growing number of customers are primed to participate in VPP
programs as they come online.”
The announcement represents Sunnova's continued dedication to
fostering energy choice, enriching customer experiences, empowering
communities, and advancing the overall energy landscape across the
United States.
Sunnova’s VPP programs utilize its innovative energy management
solutions and proprietary Sunnova Sentient™ technology platform,
which optimizes energy management, enhances reliability and
resiliency, provides demand response and grid support while
providing additional revenue streams and offers greater energy
independence for its network of customers.
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version on businesswire.com: https://www.businesswire.com/news/home/20240403034068/en/
Sunnova Media Contact: Ryan Bechtold
Ryan.Bechtold@sunnova.com
Sunnova Investor Contact: Rodney McMahan 877-770-5211
IR@sunnova.com
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