98% of Sunnova Customer Systems Remained Intact During Hurricanes Milton and Helene

Rhea-AI Summary

Sunnova Energy International (NYSE: NOVA) reported that 98% of its rooftop solar systems remained intact during Hurricanes Milton and Helene, demonstrating the resilience of their power solutions. Approximately 19,000 customers in Florida and 13,000 customers across the U.S. Southeast were unaffected when local power infrastructure was crippled. In total, over 100,000 customers in hurricane-affected areas experienced no material damage to their Sunnova systems.

Sunnova solar + storage customers benefited from battery power for an average of 25-26 hours in the week following each hurricane. The company emphasizes its commitment to providing reliable, off-grid power solutions backed by a 25-year service guarantee through Sunnova Protect™. Sunnova serves over 400,000 customers across 51 U.S. states and territories.

Positive

• 98% of Sunnova's rooftop solar systems remained intact during Hurricanes Milton and Helene
• Over 100,000 customers in hurricane-affected areas experienced no material damage to their systems
• Solar + storage customers benefited from battery power for an average of 25-26 hours post-hurricane
• Company serves over 400,000 customers across 51 U.S. states and territories

Negative

• None.

Insights

Energy Infrastructure Analyst

The resilience of Sunnova's solar systems during Hurricanes Milton and Helene demonstrates the potential of decentralized energy solutions in disaster-prone areas. With 98% of systems remaining intact and providing power for an average of 25-26 hours post-hurricane, this showcases a significant advantage over traditional grid infrastructure.

The performance of these systems during extreme weather events could drive increased adoption of solar + storage solutions, particularly in hurricane-prone regions. This may lead to a shift in energy infrastructure investment, potentially benefiting companies like Sunnova that offer resilient, off-grid power solutions.

However, investors should note that while this news is positive for Sunnova's reputation, it doesn't directly translate to immediate financial gains. The long-term impact on customer acquisition and market share will be more telling for the company's future growth and profitability.

HOUSTON--(BUSINESS WIRE)-- Sunnova Energy International, Inc. ("Sunnova") (NYSE: NOVA), an industry-leading adaptive energy services company, announced today that in the wake of significant destruction from Hurricanes Milton and Helene, 98% of its resilient Sunnova rooftop solar systems were unaffected – a strong demonstration of the resilience of Sunnova’s power solutions.

CEO John Berger and team in Sunnova’s Global Command Center as Hurricane Milton approaches (Photo: Business Wire)

Sunnova systems remained intact for approximately 19,000 customers in Florida during Hurricane Milton, and more than 13,000 customers across the U.S. Southeast during Hurricane Helene when power infrastructure was crippled and unable to deliver electricity to residents. In total, Sunnova systems for more than 100,000 customers in hurricane-affected areas, including Puerto Rico and Texas, this season have experienced no material damage.

Sunnova solar + storage customers living in the hurricane-affected areas benefitted from battery power for an average of 25 hours in the seven days after Hurricane Milton’s landfall. Similarly, Sunnova solar + storage customers benefitted from battery power for an average of 26 hours in the aftermath of Hurricane Helene in the following seven days following the storm while millions of people were without power.

“Our thoughts go out to all those who experienced the devastating impact of Hurricanes Milton and Helene,” said William J. (John) Berger, President and Chief Executive Officer at Sunnova. “We understand the importance of having power when you need it most. I am proud of our teams that did their part to help our customers and communities in this time of need. Powering families through these deadly storms has highlighted the robust reliability of our solar + storage systems.”

“When extreme weather hits we are all made acutely aware of the vulnerabilities of a centralized grid and transmission system,” said Paul Mathews, Chief Operating Officer at Sunnova. “We provide a valuable alternative solution in the form of a dependable, resilient off-grid power solution backed by industry-leading service to ensure performance in the most demanding of environments.”

Whether a hurricane or simple system issue, Sunnova offers an industry-leading 25-year service guarantee to all residential solar customers through Sunnova Protect™.

Serving an extensive customer base of more than 400,000 customers spread across 51 U.S. states and territories, Sunnova remains dedicated to advancing the energy landscape through its mission of powering energy independence^TM.

About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence^TM. For more information, visit http://www.sunnova.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241017277012/en/

Sunnova Media:

Ryan Bechtold

Ryan.Bechtold@sunnova.com



Sunnova Investors & Analysts:

Rodney McMahan

281-971-3323

Rodney.McMahan@sunnova.com

Source: Sunnova Energy International Inc.

FAQ

How did Sunnova's (NOVA) solar systems perform during Hurricanes Milton and Helene?

98% of Sunnova's rooftop solar systems remained intact during Hurricanes Milton and Helene, demonstrating the resilience of their power solutions in extreme weather conditions.

How many Sunnova (NOVA) customers were affected by Hurricanes Milton and Helene?

Approximately 19,000 customers in Florida and 13,000 customers across the U.S. Southeast were unaffected when local power infrastructure was crippled during the hurricanes.

What was the average battery power duration for Sunnova (NOVA) customers after the hurricanes?

Sunnova solar + storage customers benefited from battery power for an average of 25-26 hours in the week following each hurricane, while millions of people were without power.

What service guarantee does Sunnova (NOVA) offer to its residential solar customers?

Sunnova offers an industry-leading 25-year service guarantee to all residential solar customers through Sunnova Protect™.