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Sunnova expands residential solar + storage lease program to 9 more states

Written by: Leonard Parker | Solar News | 02nd June

Sunnova Energy International has expanded its lease service offerings, for solar + 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 a new lease or existing loan offerings when selecting a solar + storage system to power their home. Additionally, 22 new states will now have access to Enphase batteries through Sunnova’s 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.”

Sunnova expects demand for resilient home energy to increase as markets enter hurricane and wildfire seasons. 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,” Grasso said.

This lease expansion 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. Twenty-five-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. The system’s software automatically manages the battery system when the centralized grid goes down and provides back-up power to the essential appliances in a customer’s 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.

The Enphase battery retrofit will let customers with an existing home solar system add energy storage. The retrofit will take the form of a new loan offering including 25-year coverage with Sunnova Protect, also encompassing monitoring system production, repairs and replacements.

News item from Sunnova