Sunnova Unveils Adaptive Retail Energy Plan in Texas in Collaboration with David Energy, Powered by Virtual Power Plant Technology

Rhea-AI Summary

Sunnova Energy International (NYSE:NOVA) has partnered with David Energy to introduce an innovative Adaptive Retail energy plan in Texas. This plan utilizes Sunnova's SunSafe® solar and battery systems to establish a virtual power plant (VPP), enhancing energy reliability and flexibility. By leveraging distributed energy resources (DERs), this collaboration aims to optimize electricity costs for consumers while improving grid stability. Customers will benefit from the lowest retail rates and potential annual VPP credits. This initiative marks a significant shift from traditional power generation, promoting cleaner and more resilient energy solutions.

Positive

• Introduction of Adaptive Retail energy plan allows access to lower retail rates.
• Creation of a virtual power plant improves energy reliability and flexibility.
• Customers can earn VPP credits annually, reducing overall energy costs.
• Optimization of battery interactions enhances grid stability.

Negative

• None.

Sunnova and David Energy Disrupt Traditional Power Generation Model with Sunnova’s New Adaptive Retail Energy Plan, Empowering Texas Customers to Access Lowest Retail Rates

HOUSTON--(BUSINESS WIRE)-- Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, has teamed up with David Energy, a software-driven retail energy provider in Texas, to bring its Adaptive Retail energy plan to the Texas marketplace.

The Adaptive Retail energy plan leverages Sunnova SunSafe® solar and battery storage systems to create a virtual power plant (VPP) that optimizes the interactions of the fleet with the electric grid. By aggregating the battery storage and generation capacity of its customers, Sunnova can provide a more reliable and flexible source of energy that can respond to changes in demand and market conditions.

Together, Sunnova and David Energy will leverage their distributed energy resource management software to optimize their customers' distributed energy resources (DERs) and create a VPP in Texas. Sunnova’s fleet of batteries will react in real time to David Energy’s platform, which dispatches the fleet based on the price of energy in the wholesale market. In addition, David Energy’s platform will allow these DERs to integrate the value of demand response and bid their capacity into Electric Reliability Council of Texas’s (ERCOT) ancillary markets for the creation of the lowest energy rates for Sunnova’s customers.

"Our Adaptive Retail plan represents a significant departure from the traditional centralized power generation model, putting more control and flexibility in the hands of our customers,” said William J. (John) Berger, CEO of Sunnova Energy International Inc. "By leveraging our customers' Sunnova SunSafe® systems through a VPP, we can create a more reliable and cost-effective source of energy for the electric grid, while also providing our customers with the best possible prices."

"By combining a retail energy plan with software that connects to a broad range of devices many customers already have, David Energy’s platform can turn Texans’ homes into power plants. The potential to bring hundreds of megawatts of much needed flexible capacity to ERCOT via these VPPs in the near future is very real," said James McGinniss, CEO and founder of David Energy. “We are thrilled to collaborate with Sunnova on their Adaptive Retail plan and to help prove that DERs are quickly becoming a force to be reckoned with in ERCOT and beyond.”

“The introduction of our Adaptive Retail rate in Texas marks a major milestone in Sunnova’s efforts to integrate the Sunnova Adaptive Home™ into broader power markets,” said Michael Grasso, EVP, Chief Revenue Officer at Sunnova. “The technology embedded into each Sunnova system allows our Texas customers to access the lowest retail rates, earn VPP credits annually, and reduce their overall energy costs.”

By optimizing battery interactions with the electric grid, Sunnova and David Energy are reducing monthly customer electricity costs and promoting a cleaner grid. Through this collaboration, Sunnova and David Energy are paving the way for a cleaner and more resilient energy future in Texas. The collaboration of DERs will provide grid services that will enhance grid stability and improve the reliability of the ERCOT service area.

To join the Sunnova Adaptive Retail plan waitlist, please enter your information here.

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 and businesses have the freedom to live life uninterrupted®. For more information, please visit sunnova.com.

About David Energy
David Energy is a software-enabled retail energy provider on a mission to empower customers to build a cheaper, cleaner, more resilient electricity grid. We offer customers smarter energy rates, greater transparency, and more control over how and when they use energy by connecting their DERs to our platform. Learn more at www.davidenergy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230308005151/en/

Media Contact

Sunnova: Kelsey Hultberg

Kelsey.hultberg@sunnova.com

David Energy: Sophia Cowles

sophia@davidenergy.com

Investor & Analyst Contact

Rodney McMahan

281-971-3323

Rodney.McMahan@sunnova.com

Source: Sunnova Energy International Inc.

FAQ

What is Sunnova's Adaptive Retail energy plan in Texas?

Sunnova's Adaptive Retail energy plan is a new initiative that leverages solar and battery storage to create a virtual power plant, optimizing energy costs and reliability for customers in Texas.

How does the partnership with David Energy benefit Sunnova's customers?

The partnership enables Sunnova's customers to access lower retail rates and earn credits through the virtual power plant created with David Energy's technology.

What impact does the Adaptive Retail energy plan have on energy costs?

The Adaptive Retail energy plan aims to reduce monthly electricity costs for customers by optimizing battery interactions with the grid.

What technology does Sunnova use in its energy plan?

Sunnova utilizes its SunSafe® solar and battery systems integrated with David Energy's software to optimize distributed energy resources.

When was the Adaptive Retail energy plan announced?

Sunnova announced the Adaptive Retail energy plan on March 8, 2023.