Sunnova Expands its Solar and Storage Services to Washington, D.C.

Rhea-AI Summary

Sunnova Energy International (NYSE: NOVA) announced its entry into the District of Columbia residential solar market. Homeowners can now access various loan products, including the SunSafe solar + battery storage service. Given D.C.'s ambitious renewable energy goals, Sunnova aims to support energy independence while providing affordable energy solutions. With average electricity rates in D.C. rising 63% since 2000, Sunnova's offerings allow customers to manage energy costs effectively. The company's systems come with a 25-year maintenance and warranty coverage, ensuring durability and reliability.

Positive

• Expansion into D.C. opens new market opportunities for Sunnova.
• Access to cost-saving solar + battery storage solutions for homeowners.
• Potential for significant market demand given D.C.'s renewable energy goals.
• 25-year warranty on solar systems providing long-term customer assurance.

Negative

• None.

Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), one of the leading U.S. residential solar and storage service providers, announced today it will begin offering its services to the District of Columbia. Homeowners in D.C. will now have access to all of Sunnova’s loan products, including the flagship solar-only system, Sunnova SunSafe® solar + battery storage service, and +SunSafe® add-on battery service. Additionally, for homeowners that are looking to go solar but require a new roof, Sunnova will coordinate roof replacement service by a licensed contractor.

(Graphic: Business Wire)

“Now more than ever, decentralized and decarbonized energy solutions are at the forefront of consumer demand,” said William J. (John) Berger, Chief Executive Officer of Sunnova. “Washington D.C. has the most ambitious renewable energy goal in the country, and we are looking forward to helping the state realize this goal while providing a better energy service at a better price.”

From 2008-2017, power outages in D.C. affected over 2.5 million people¹. With Sunnova SunSafe and +SunSafe, customers will have access to backup power that will run their essential appliances. Unlike a solar-only system, Sunnova SunSafe produces energy during the day and sends excess energy to the rechargeable battery for use at night, or anytime it’s needed.

“Our expansion into the D.C. market is coming at a pivotal time. As the new administration settles in and takes steps towards increasing renewable energy deployment, Sunnova will be dedicated to supporting D.C. homeowners gain access to some of the most affordable, integrated energy solutions out there,” said Michael Grasso, Chief Marketing Officer of Sunnova.

Residential electricity prices have risen steadily year after year, in Washington D.C., the average rate increased 63% since 2000². Sunnova’s solar services will allow homeowners to take control of their energy costs by producing their own clean, renewable and affordable energy. By going solar with Sunnova, customers can lock in one low rate and always know what they are paying for. Sunnova SunSafe and Sunnova +SunSafe also provide protection from peak utility rates to optimize homeowner savings and maximize net metering credit. Intelligent control technology within the system makes the experience for customers hassle free, automatically managing the flow of energy between the solar energy system, the battery, the home and the electric grid.

Sunnova customers can rest assured knowing their home solar and solar + battery storage systems are covered by 25 years of Sunnova Protect™ featuring worry-free, maintenance, monitoring, repairs, and replacements. Sunnova’s add on +SunSafe batteries are covered by a manufacturer’s warranty where Sunnova will coordinate all maintenance and repairs as well as cover any costs for the repair or replacement of covered parts.

About Sunnova

Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service 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^TM.

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1 https://switchon.eaton.com/plug/blackout-tracker

2 https://www.eia.gov/electricity/data/eia861m/

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210211005936/en/

FAQ

What services does Sunnova offer in Washington D.C. as of October 2023?

Sunnova offers solar-only systems and SunSafe solar + battery storage services to homeowners in Washington D.C.

How have residential electricity prices in D.C. changed over the years?

Residential electricity prices in Washington D.C. have increased by 63% since 2000.

What is the significance of Sunnova's expansion into the D.C. market?

Sunnova's expansion aligns with D.C.'s ambitious renewable energy goals and enhances its market presence.

How long is the warranty coverage for Sunnova's solar systems?

Sunnova provides a 25-year warranty covering maintenance and repairs for its solar systems.

What is the SunSafe service offered by Sunnova?

SunSafe is a solar + battery storage service that allows homeowners to store energy for use at night or during outages.