US residential solar and battery storage company Sunnova Energy International Inc (NYSE:NOVA) has secured 38 MW in the latest ISO-New England forward capacity auction, FCA17. The company said on Monday this means it now has the largest wholesale market capacity position by a behind-the-meter solar and battery storage developer in the New England region. The […]
Tax Credits Are Best Way for Congress to Aid Solar, Sunnova Says
Sunnova Energy International Inc. says the most important step U.S. Congress can take to support solar power is to extend a federal tax credit on investments in the industry. “The best thing that D.C. can do for solar is to pass the tax credit package,” said Meghan Nutting, executive vice president of government and regulatory […]
Solar Stock Surge Fades on Search for Post-Lockdown Winners
The stellar surge in solar-energy stocks is faltering as investors turn their focus to bargains that may benefit from the end of lockdowns. While some shares made gains today, market participants expect continued selling pressure. Following a jump of more than 230% in 2020, The Invesco Solar ETF has fallen 14% this year, with members […]
SolarEdge, Enphase Hit by Sharp Slowdown in Solar Installations During Pandemic’s Depths
Orders are rising again in the U.S. solar market, but “the rate of that recovery is questionable,” says SolarEdge CEO Zvi Lando. Residential solar inverter rivals SolarEdge and Enphase faced the same headwinds from the COVID-19 pandemic in the second quarter, with both companies reporting a downturn in Q2 revenue. However, both companies also laid out […]
Sunnova Closes Securitization of Residential Solar Loan Agreements
HOUSTON: Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential solar and energy storage service provider, announced today it has closed its second solar-loan securitization and sixth residential solar securitization overall. “Once again, the secured financing market has recognized the value and importance of providing superior customer service for solar and storage offerings,” […]
Fast Times for the US Residential Solar Market
Scale rivaling utility players. Power shutoffs. And a whole lot of batteries. Here are the latest trends in the U.S. home solar market. Fall earnings season brought a barrage of new data on the performance of rooftop solar installers, since all the large national players are publicly traded. For one thing, the national residential solar […]
Sunnova Logs Q2 Loss But Outlines Big-Time Customer Growth
The newly public residential solar company is growing quickly but has much work ahead to become profitable. Sunnova finished its first quarter as a public company with a net loss grazing $50 million, which the company attributed to several factors including $1.3 million in initial public offering-related costs and $11.6 million in depreciation expenses. Despite […]
Sunnova Partners with California Roofer Ahead of Solar Mandate
California’s residential solar law goes into effect in 2020, and providers are gearing up to capitalize on it. A high-profile solar-homebuilder partnership has emerged from the flurry of activity surrounding California’s new solar home mandate, which goes into effect in 2020. Residential solar provider Sunnova and PetersenDean, a California-based company that installs roofs and solar, […]
Sunnova Raises $170M in First US Solar IPO in Years
“We’re the first solar company that went public that’s headquartered in Houston,” CEO John Berger tells GTM. “Now you know the energy business has really changed.” Shares of residential solar company Sunnova ended their first day of trading on Thursday at $11.25, below their initial price of $12 and well south of a range of […]
Sunnova’s IPO: Going public in a slower residential solar market
Report summary On 27 June 2019, Sunnova submitted a pre-IPO (initial public offering) prospectus to the U.S. Securities and Exchange Commission (SEC). It would be the first residential solar company to go public since 2015. Other major residential solar companies – Sunrun, Vivint, and Tesla – all went public between 2012-2015, when the residential solar […]