Hurricane Beryl’s Devastating Impact on Houston Power Grid Reinforces Value of Sunnova Solar + Storage Service for Homeowners

Rhea-AI Summary

Sunnova Energy International (NYSE: NOVA) highlights the value of its SunSafe® solar + battery storage service following Hurricane Beryl's impact on Houston's power grid. While the storm left 2.7 million residents without power, Sunnova's customers maintained uninterrupted electricity. CEO William J. Berger emphasized the importance of energy independence during natural disasters, noting Sunnova's service across 51 US states and territories.

The company's solar + storage systems are backed by a 25-year Sunnova Protect™ service guarantee and 24-hour monitoring. Sunnova's service teams have grown 230% since 2020, ensuring rapid response times. The company offers custom designs and financing options for new customers, with services available through their website, direct phone line, and The Home Depot locations nationwide.

Positive

• Sunnova's SunSafe® solar + battery storage systems provided uninterrupted power during Hurricane Beryl
• Company has grown service teams by 230% since 2020
• Offers 25-year Sunnova Protect™ service guarantee and 24-hour system monitoring
• Operates in 51 US states and territories
• Partnership with The Home Depot provides additional customer acquisition channel

Negative

• None.

Insights

Energy Market Analyst

The recent impact of Hurricane Beryl on Houston's power grid underscores the growing importance of decentralized energy solutions. Traditional power infrastructure is increasingly vulnerable to extreme weather events, making solar and battery storage systems a compelling alternative. Sunnova's SunSafe® service highlights a practical application of such technology, which ensured continued power for its customers during the disruption.

From an investor’s perspective, the incident showcases potential growth avenues for Sunnova, especially as climate-related disruptions become more frequent. The resilience of their technology during a high-profile event may spur increased demand for their services, potentially leading to higher revenue streams and market share gains. Additionally, the company's strategic partnership with The Home Depot provides a broad platform for market penetration, enhancing customer acquisition potential.

However, it's essential to remain cautious about overreliance on such incidents for long-term growth forecasts. While short-term interest and sales may spike, sustained performance will depend on broader adoption rates and the company's ability to innovate and maintain competitive advantages over emerging challengers.

Tech Expert

From a technological standpoint, the performance of Sunnova's SunSafe® solar + battery storage system during Hurricane Beryl demonstrates the robustness and reliability of their technology. The ability to provide uninterrupted power in the face of grid failures is a significant technological achievement, particularly given the scale of the disruption in Houston.

The use of a Global Command Center equipped with advanced analytics and remote monitoring capabilities further emphasizes Sunnova's commitment to leveraging technology for enhanced customer service. These features not only improve operational efficiency but also offer a competitive edge by ensuring rapid response times and continuous support.

For retail investors, understanding the technological strengths of Sunnova's offering is crucial. The integration of cutting-edge technologies not only enhances customer satisfaction but also positions Sunnova as a market leader in the residential solar sector. This technological edge could translate into sustained growth and profitability, provided the company continues to invest in innovation and maintain high service standards.

HOUSTON--(BUSINESS WIRE)-- Sunnova Energy International, Inc. ("Sunnova") (NYSE: NOVA), an industry-leading adaptive energy services company, reinforced the value of Sunnova SunSafe® solar + battery storage service in the aftermath of Hurricane Beryl and reminded homeowners of its readiness to support their energy independence.

Natural disasters like Hurricane Beryl, which recently impacted Houston – headquarters of Sunnova – and the surrounding region, demonstrate the advantages of residential rooftop solar and battery storage over exclusive reliance on the aging power grid. Hurricane Beryl dealt a crippling blow to Houston’s power grid, disrupting power for nearly 2.7 million residents, with several thousand customers still without electricity today.

But for Sunnova SunSafe® solar + battery storage customers, the power stayed on during the storm and remained on in its aftermath, proving that in times of an emergency, a solar + storage system provides homeowners energy security and peace of mind. Sunnova’s SunSafe® solar + battery service pairs solar energy generation with battery storage, allowing customers to access solar power even when the sun is down, or the grid is out.¹

Sunnova’s solar + storage systems experienced uninterrupted power throughout the storm protecting the homes of Houston-area customers and employees – including Sunnova CEO William J. (John) Berger, who gave a live interview with CNBC in the middle of the hurricane.

“Future disasters like Hurricane Beryl aren’t an ‘if,’ but a ‘when,’” said Berger. “While it was Houston’s grid this time, grid failure happens all over – from hurricanes in Puerto Rico and Florida to wildfires in California and Hawaii. Sunnova has a proud history of serving customers through these disasters and providing resilient solar and battery storage services across 51 US states and territories.”

Sunnova’s residential solar + storage systems are backed by the industry-leading, 25-year Sunnova Protect™ service guarantee, 24-hour remote system monitoring, and the continuous support of its dedicated customer care call centers and field service technicians. Having grown more than 230% since 2020, the company’s service teams provide rapid response times for Sunnova customers to help ensure the power keeps flowing. Additionally, Sunnova’s state-of-the-art Global Command Center in Houston is equipped with cutting-edge technologies, analytics, and tailored solutions to enhance the customer experience.

“Sunnova stands ready and able to partner with customers to help power their energy independence with our battle-tested solar + storage systems,” said Michael Grasso, Executive Vice President and Chief Revenue Officer at Sunnova. “While overburdened, aging US power grids are showing their strain, our residential solar offerings provide the power to live life uninterrupted®.”

New customers can visit Sunnova or call Sunnova directly to inquire about solar + storage for their home, get a custom design and quote and discuss tailored financing and other energy solutions at 1-833-772-3358. In addition, Sunnova’s strategic partner, The Home Depot, provides customers an avenue to meet with Sunnova representatives to find the right solutions for their home. The Home Depot has more than 2,000 locations across the US – find a store by visiting their website.

_________________________ 1 The amount of power available from the battery during a power outage is limited, depending on numerous factors, including the loads connected and battery configuration.

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™. For more information, visit http://www.sunnova.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240717254076/en/

Sunnova Media Contact:

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 solar + storage systems perform during Hurricane Beryl?

Sunnova's SunSafe® solar + battery storage systems provided uninterrupted power to customers throughout Hurricane Beryl, while 2.7 million Houston residents lost electricity due to grid failure.

What guarantee does Sunnova (NOVA) offer for its solar + storage systems?

Sunnova offers a 25-year Sunnova Protect™ service guarantee for its residential solar + storage systems, along with 24-hour remote system monitoring and continuous support from dedicated customer care and field service teams.

How has Sunnova (NOVA) expanded its service capabilities since 2020?

Sunnova has grown its service teams by more than 230% since 2020, enabling rapid response times for customers to ensure continuous power supply.

Where can customers purchase Sunnova's (NOVA) solar + storage systems?

Customers can inquire about Sunnova's solar + storage systems through the company's website, by calling 1-833-772-3358, or by visiting The Home Depot stores, which have over 2,000 locations across the US.