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Sunnova Energy International Inc

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Sunnova Energy International Inc
Sunnova Solar Energy Company
Public
Traded as
ISIN🆔
IndustryRenewable energy
Founded 📆2012; 14 years ago (2012)
Founder 👔William J. Berger
Headquarters 🏙️, ,
U.S.
Area served 🗺️
United States, Puerto Rico, Guam & Saipan
Revenue🤑 IncreaseUS$241.8 million (2021)
DecreaseUS$−54,890 (2021)
DecreaseUS$−138,128 (2021)
Total assetsIncreaseUS$5.5 million (2021)
Total equityIncreaseUS$1.19 million (2021)
Members
Number of employees
736[1] (2021)
🌐 Websitesunnova.com
📇 Address
📞 telephone
Footnotes / references
Financials as of December 31, 2021.
References:[2]

Sunnova Energy International Inc. is an American provider of photovoltaic solar energy generation systems, battery energy storage products, EV chargers, standby generators and other energy services, primarily for residential customers. The company serves customers across the United States and its territories, including Puerto Rico, Guam and Saipan. It is headquartered in Houston, Texas, and was founded in 2012 by energy entrepreneur William Jackson Berger.

History

William J. Berger founded Sunnova in 2012, and has since served as the company's Chief Executive Officer, President and Chairman of the Board. The company offers a residential solar dealer model in which it partners with local dealers who originate, design and install its customers' solar energy systems and energy storage systems on its behalf.[3]

One of the nation's largest rooftop solar companies,[4] Sunnova listed on the New York Stock Exchange (NYSE) in 2019.[5]

In February 2021, Sunnova entered a definitive agreement with LENX, Lennar’s technology-focused subsidiary, under which it acquired the home builder's residential solar platform, SunStreet, and in turn became the exclusive residential solar and storage service provider for Lennar's new-home communities.[6]

In August 2022, the company asked the California Public Utilities Commission to let it directly compete with investor-owned utilities to provide electricity to homes in new residential developments as a private micro-utility—or microgrid—saying it would offer those residents electricity that was up to 20 percent cheaper than the rates charged by investor-owned utilities like Pacific Gas & Electric Company and Southern California Edison.[7] As of November 2022, the case is still pending approval by regulators.

In September 2022, the company announced it was starting a new division to serve commercial, industrial, agricultural and public sector customers.[8]

References

  1. "Sunnova Energy International Inc. (NOVA) Company Profile & Facts - Yahoo Finance". finance.yahoo.com.
  2. "Sunnova 2021 Annual Report" (PDF). February 17, 2022.
  3. "Check out Sunnova Energy Intl's stock price (NOVA) in real time". CNBC.
  4. "A Solar Firm Plans to Build Off-Grid Neighborhoods in California - The New York Times". Nytimes.com. 2022-08-30. Retrieved 2022-11-14.
  5. Murdoch, Adrian (September 7, 2021). "US solar sees brighter prospects as Sunnova issues first green bond".
  6. Salmonson, Mary (February 24, 2021). "Sunnova Acquires Lennar's SunStreet Residential Solar Platform". Builder.
  7. Penn, Ivan (September 1, 2022). "A Solar Firm Plans to Build Off-Grid Neighborhoods in California". New York Times.
  8. Adegbesan, Angel (September 19, 2022). "Home Solar Firm Sunnova Energy Pushes Into Commercial Sector". Bloomberg.

External links


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