Savant Teams with Sunnova to Deliver Smart Power Solutions

Rhea-AI Summary

Sunnova Energy International (NYSE: NOVA) has partnered with Savant Systems to enhance its Energy as a Service (EaaS) offerings. Starting Q1 2023, Savant's intelligent load management and smart energy software will be integrated into Sunnova's Adaptive Home^® services. This collaboration aims to optimize energy management by seamlessly monitoring and controlling grid and solar energy, making clean energy more accessible and affordable. The solution supports various energy modes, extending the life of connected devices and reducing overall energy costs.

Positive

• Partnership with Savant enhances energy service offerings.
• Integration of smart load management technology improves energy efficiency.
• Supports customer control over energy usage, promoting sustainability.

Negative

• None.

Sunnova selects Savant as their preferred provider of load management technology and smart energy software for the Sunnova Adaptive Home^®

HYANNIS, Mass., Dec. 5, 2022 /PRNewswire/ -- Savant Systems, Inc., a leader in smart home and smart power, has announced an agreement with Sunnova Energy International, Inc. ("Sunnova") (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, to add Savant's intelligent load management and control solution to Sunnova's Energy as a Service offerings for customers across the U.S., beginning Q1 of 2023.

A Savant/Sunnova smart power solution seamlessly monitors and controls energy from the grid as well as home solar systems and generator power, creating an optimized ecosystem for any home. Through this agreement with Savant, Sunnova's growing portfolio of energy service solutions allows customers to integrate the use of solar, battery storage, energy control and management technologies, making clean energy more accessible, reliable and affordable.

"Savant is excited to team with Sunnova, bringing intelligent electrification infrastructure to all residential applications," explained Savant CEO Robert Madonna. "Our innovative load management system advances the renewable energy experience, extending the life of any local power source. With Sunnova's growing installation footprint and Savant's network of dealers, our objective is to make best-in-class energy management solutions readily available, reducing both carbon emissions and overall energy costs."

"Our relationship with Savant is about increasing Sunnova's ability to monitor and manage the power service for our customers, both on and off the grid," said Michael Grasso, Chief Marketing and Growth Officer at Sunnova. "Sunnova provides a better energy service at a better price and by integrating data from Savant's smart energy solutions we will be able to offer more control to our customers. With the addition of Savant, Sunnova is further Powering Energy Independence™ by giving customers the ability to seamlessly monitor and control energy usage in their Sunnova Adaptive Home^®."

Scalable, Best-in-Class Smart Power for Every Home
A Savant Power System is engineered to scale, delivering the benefits of smart power for any application. Systems can be designed to provide revenue-grade monitoring and control, making every conventional electrical panel smart at an affordable price for any home. At the heart of this scalability is Savant's smart energy software and innovative power modules, with 20, 30, and 60-AMP models designed to fit industry-leading, standard electrical panels. Savant offers both Wi-Fi and LTE connectivity, ensuring that homeowners retain control even when the grid goes down and Wi-Fi becomes unavailable.

Convenient Energy Modes
A Savant Power System will extend the life of connected batteries, inverters, and generators by dynamically shedding loads for maximum efficiency. Energy Modes can be activated at the touch of a button thanks to Savant's award-winning Scenes Engine and each mode can be personalized based on lifestyle. Users will have access to Eco Mode, Storm Watch Mode, and Off-Grid Mode, enabling homeowners to be ready for any scenario while prioritizing the use of stored energy and local generation to reduce grid dependence. 

For more information on the Savant Power System, visit www.savant.com/power

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About Savant
Headquartered in Massachusetts, Savant Systems, Inc., is a global leader in smart home, intelligent lighting and energy solutions for consumers, businesses, utility companies and more. Along with GE Lighting, a Savant company and Savant Power System, Savant Systems, Inc. offers the most diverse portfolio of DIY and professionally installed smart products available at thousands of leading retail stores and through a network of authorized integrators. Engineered to customize any space, Savant's innovative solutions unite all the vital pillars of any connected environment – climate, lighting, entertainment, security, and energy – together into a premier integrated experience controlled by intuitive award-winning software for iOS and Android. Learn more at savant.com.

About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading U.S. Energy as a Service (EaaS) 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®. For more information, please visit sunnova.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act 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," "expect," "plan," "anticipate," "going to," "could," "intend," "target," "project," "contemplates," "believe," "estimate," "predict," "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 press release include, but are not limited to, statements regarding the benefits and impact of the agreement and Sunnova's current and future product offerings to consumers. 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 forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, changes in regulations applicable to our business, fluctuations in the solar and home-building markets, availability of capital, supply chain uncertainty, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Sunnova's filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2021, and our subsequent Quarterly Reports on Form 10-Q. The forward-looking statements in this press 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.

Savant Media Contact:
Micah Sheveloff for WIRC Media
(727) 258-4770 / wirc1@wircmedia.com 

Sunnova Media Contact:
Matt Dallas
917-363-1333
matt.dallas@icrinc.com

Sunnova Investor & Analyst Contact:
Rodney McMahan
281-971-3323
Rodney.McMahan@sunnova.com

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SOURCE Savant Systems, Inc.,

FAQ

What is the partnership between Sunnova and Savant about?

Sunnova has selected Savant as its preferred provider of load management technology and smart energy software to enhance its Energy as a Service offerings.

When will the Savant technology be available to Sunnova customers?

The integration of Savant's technology into Sunnova's services will begin in Q1 of 2023.

How does the Savant technology benefit Sunnova customers?

It allows for seamless monitoring and control of energy from both the grid and solar systems, promoting energy efficiency and cost savings.

What is the stock symbol for Sunnova Energy International?

The stock symbol for Sunnova Energy International is NOVA.

What type of solutions will Sunnova offer with Savant's technology?

Sunnova will offer solutions that include smart monitoring, load management, and various personalized energy modes to enhance energy independence.