Lumin’s Smart Electrical Panel Selected by Sunnova to Supercharge its Solar and Storage Offering

Rhea-AI Summary

Lumin partners with Sunnova to integrate the Lumin Smart Panel and its intelligent energy management platform into Sunnova’s Adaptive Home offering. This allows customers to benefit from whole-home backup, extended battery life, and energy savings through intelligent load management. The partnership aims to make clean energy more affordable, reliable, and resilient for tens of thousands of homeowners through Sunnova’s extensive dealer network starting in Q1 2024.

Insights

Energy Industry Analyst

The integration of Lumin's Smart Panel into Sunnova's Adaptive Home system represents a significant advancement in residential energy management. This collaboration could potentially disrupt the traditional energy market by providing consumers with more control over their energy usage, thus fostering greater energy independence. The ability to manage energy loads dynamically and the possibility of extended battery life during outages are key differentiators that may increase demand for smart home energy solutions.

From an industry perspective, this partnership underscores a growing trend towards the electrification of homes, leveraging smart technology to optimize energy consumption. The scalability and hardware-agnostic nature of Lumin's platform suggest that it can be adopted widely without being confined to specific battery or solar panel brands, which could accelerate market penetration.

Moreover, the eligibility for tax credits and rebates under the Inflation Reduction Act (IRA) is likely to enhance consumer adoption rates. This financial incentive could make the technology more accessible, particularly as it can potentially cover up to 100% of the system's cost for qualifying homeowners. Such incentives are critical in driving the transition to cleaner energy solutions and can have a noticeable impact on Sunnova's sales and market share.

Financial Analyst

The announcement of the partnership between Lumin and Sunnova could be seen as a strategic move to capitalize on the growing demand for sustainable and resilient energy solutions. For investors, Sunnova's stock (NYSE: NOVA) may be influenced by this development, as it reflects the company's proactive approach to expanding its product offerings and potentially increasing its customer base.

Investors will be monitoring the execution of this partnership, particularly the roll-out starting in Q1 2024, as it could impact Sunnova's revenue streams and profitability. The adoption rate of the Adaptive Home system post-integration will be a critical metric. If successful, this could lead to upward revisions in revenue forecasts and possibly enhance investor confidence in Sunnova's growth trajectory.

It is also important to consider the competitive landscape. If the Lumin Smart Panel integration offers a superior value proposition compared to competitors, Sunnova could gain a competitive edge. However, if competitors respond with similar innovations, the market may become more saturated and the unique selling proposition of the Adaptive Home system may be diminished.

Sustainability Expert

The partnership between Lumin and Sunnova is a testament to the increasing focus on sustainability and energy efficiency within the residential sector. By providing homeowners with tools to manage their energy consumption more effectively, this initiative supports broader climate goals by potentially reducing overall energy usage and reliance on non-renewable energy sources.

The intelligent load management facilitated by the Lumin Smart Panel can lead to more efficient use of renewable energy resources, particularly when combined with solar power and battery storage. This can contribute to the decarbonization of the electricity grid and help mitigate the effects of climate change by reducing greenhouse gas emissions associated with energy production and consumption.

Additionally, the resilience offered by whole-home backup is increasingly valuable in the context of extreme weather events and power outages. By enhancing the reliability of renewable energy systems, this partnership could play a role in accelerating the transition to a more sustainable and resilient energy infrastructure.

Lumin Smart Panel integration provides Sunnova Adaptive Home customers with whole-home backup, extended battery life, and energy savings through intelligent load management.

CHARLOTTESVILLE, Va.--(BUSINESS WIRE)-- Lumin, the pioneer and leading provider of responsive energy management solutions, today announced a partnership with Sunnova Energy International, Inc. (“Sunnova”) (NYSE: NOVA), one of the nation’s leading adaptive energy services companies, to integrate the Lumin Smart Panel and its intelligent energy management platform into Sunnova’s Adaptive Home offering. Through the partnership, the Lumin Smart Panel will be available to tens of thousands of homeowners through Sunnova’s extensive dealer network starting in Q1 2024.

The Sunnova Adaptive Home combines solar power, battery storage, and smart energy management to make clean energy even more affordable, reliable, and resilient. By integrating the Lumin Smart Panel into the Adaptive Home offering and its energy management software into the Sunnova app, Sunnova provides its customers with superior comfort, insight, and control over their energy usage.

Lumin’s Control What Matters^TM load management approach and hardware-agnostic platform provide the Sunnova Adaptive Home with a scalable and highly cost-effective tool for advancing home electrification. While typical home battery systems are limited to backing up only a few circuits, Adaptive Homes powered by Lumin Smart panels provide homeowners access to all circuits through responsive load management, enabling and extending whole-home backup. By dynamically managing loads to stay below the customer’s power threshold, the Lumin Smart Panel gives homeowners access to the circuits that matter to them. It enables longer battery life during a power outage and intelligently responds to user preferences and environmental conditions. Features include setting circuit schedules and limits based on time-of-use rates, net metering policies, and demand charges to optimize energy use and save homeowners money on utility bills. The Lumin Smart Panel is eligible for state and federal tax credits plus Inflation Reduction Act (IRA) electrification rebates that can cover up to 100% of the cost of a new system for qualifying homeowners.

“Lumin’s smart energy management platform provides the ideal combination of performance, compatibility, and affordability that aligns perfectly with Sunnova’s commitment to powering energy independence,” said Michael Grasso, Chief Revenue Officer at Sunnova. “We’re thrilled to integrate Lumin into our Adaptive Home offering and collaborate with their team in delivering the highest value home energy experience to our customers.”

“To meet our climate goals, we must make intelligent home energy management more accessible and affordable for all homeowners,” said Kelly Warner, CEO of Lumin. “Sunnova is an industry leader in providing intelligent energy solutions to homeowners across the economic spectrum. Integrating our retrofit-ready smart panel technology with Sunnova’s Adaptive Home is not just a no-brainer – it’s a game-changer for accelerating the energy transition.”

“Most homeowners investing in solar and storage want access to more than two or three loads during a power outage—they want to control what matters most to them,” said Alex Bazhinov, Founder and President of Lumin. “We’re thrilled to partner with industry leader Sunnova to provide their customers with an intelligent, affordable solution that unlocks whole-home backup, extends battery backup time, and provides the ultimate solution to automate and control energy use in the home.”

The collaboration builds on the growth of Lumin’s recent partnership with ABB. Lumin’s technology is now installed in more than 45 states and territories by a growing network of more than 400 certified installers.

About Lumin

Lumin® is the pioneer and leading provider of responsive energy management solutions. Through its innovative Control What Matters^TM approach, Lumin offers the only universally compatible, retrofit-ready load management platform that is out-of-the-box compatible with all residential batteries and load centers. By making ordinary circuits smart, Lumin grants comprehensive control over the home microgrid, enabling whole-home backup, electrification, and participation in demand response programs. Through the user-friendly Lumin app, homeowners can monitor their energy use, create on-grid and off-grid circuit management schedules, and automate time-of-use rate avoidance, providing maximum energy control. Backed by a network of installers across the U.S. and Canada, Lumin’s technology is paving the way for an all-electric, clean energy future. Discover more at www.luminsmart.com.

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/20240130077209/en/

Lumin Media Contact

Kenny Gayles

P: 800.793.8013 ext: 702

press@luminsmart.com

Source: Lumin

FAQ

What is the partnership between Lumin and Sunnova about?

The partnership involves integrating the Lumin Smart Panel and its intelligent energy management platform into Sunnova’s Adaptive Home offering, providing customers with whole-home backup, extended battery life, and energy savings through intelligent load management.

What are the benefits of the Lumin Smart Panel integration for Sunnova’s Adaptive Home customers?

Customers will benefit from whole-home backup, extended battery life, and energy savings through intelligent load management, making clean energy more affordable, reliable, and resilient.

When will the Lumin Smart Panel be available to homeowners through Sunnova’s dealer network?

The Lumin Smart Panel will be available starting in Q1 2024 through Sunnova’s extensive dealer network.

What is the Sunnova Adaptive Home offering?

The Sunnova Adaptive Home combines solar power, battery storage, and smart energy management to make clean energy even more affordable, reliable, and resilient.

What features does the Lumin Smart Panel offer to homeowners?

The Lumin Smart Panel offers features such as setting circuit schedules and limits based on time-of-use rates, net metering policies, and demand charges to optimize energy use and save homeowners money on utility bills.