Sunnova Launches Solar + Storage Lease Service Offerings in Nine States

Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), one of the leading U.S. residential solar and storage service providers, has expanded its lease service offerings, for solar + Tesla and Generac storage systems, to nine new markets. Illinois, Maryland, New Mexico, Pennsylvania, South Carolina, Texas, Florida, New York and Rhode Island homeowners, will now have the flexibility to choose between our new lease or existing loan offerings, when selecting a solar + storage system to power their home. Additionally, twenty-two new states will now have access to Enphase batteries through our loan program.

“We’re here to ensure our customers have access to energy services and financing options that make the most sense for their unique situations and that ultimately help them achieve energy independence,” said Michael Grasso, Chief Marketing and Growth Officer at Sunnova. “We also want to empower Sunnova’s local dealers to help families find the best energy options for their individual needs, and these expansions help us realize that goal.”

As families continue to spend more time at home and increasingly experience power outages as we enter hurricane and wildfire seasons, the demand for reliable and resilient energy will continue to grow. In 2020, Sunnova’s dealers installed three times the number of battery systems compared to 2019, and more than doubled the number in Q1 of 2021, compared to the same quarter last year. “Sunnova’s goal is to consistently anticipate our customers’ needs and diversify and innovate our offerings accordingly,” said Grasso.

This lease expansion is an addition to Sunnova’s wide suite of offerings and will provide customers with:

• balanced billing, where they pay a flat, predictable monthly rate based on the equipment cost,
• competitive pricing without having to apply for federal and state incentives and rebates,
• insurance coverage taken on by Sunnova – at no extra cost, and
• 25-year energy guarantee through Sunnova Protect, with the balanced billing option.

Batteries are essential for storing the excess energy produced by a solar system and providing that stored energy for use during a power outage. Intelligent software automatically manages the battery system when the centralized grid goes down and seamlessly provides reliable back-up power to the essential appliances in your home. Decentralized and decarbonized solar + storage solutions not only provide homeowners with resiliency but can also help homeowners lower utility bills, while helping the respective states reach their clean energy targets.