Sunnova

Sunnova Energy International Inc.

Company type	Public
Traded as	NYSE: NOVA
Industry	Solar energy
Founded	2012 (2012)
Founder	John Berger
Headquarters	Houston, Texas , U.S.
Products	Solar panel installations, Energy storage solutions
Services	Solar energy as a service, Repair services
Revenue	$1.4 billion (2023)
Total assets	$3.2 billion (2023)
Total equity	$1.8 billion (2023)
Number of employees	1,200 (2023)
Website	www.sunnova.com

Sunnova Energy International Inc.

Sunnova Energy International Inc. is an American energy company that provides residential solar and energy storage services. The company was founded in 2012 and is headquartered in Houston, Texas. Sunnova operates primarily in the United States, offering solar panel installations, battery storage, and repair services to homeowners and businesses.

History

Sunnova was founded in 2012 by William J. (John) Berger. The company quickly expanded its operations across the United States, focusing on providing affordable, reliable, and sustainable energy solutions to residential customers. Over the years, Sunnova has grown to become one of the leading residential solar service providers in the country.

Business Model

Sunnova’s business model revolves around providing energy as a service (EaaS). The company offers solar panel installations, energy storage solutions, and various financing options, including solar leases and power purchase agreements (PPAs). This model allows homeowners to adopt solar energy with little to no upfront costs, paying instead for the energy produced by the solar systems over time.

Products and Services

• Solar Panel Installation: Sunnova provides customized solar energy systems for residential properties, including design, installation, and maintenance.
• Energy Storage Solutions: The company offers battery storage systems that allow homeowners to store excess solar energy for use during power outages or at night.
• Sunnova Repair Services (SRS): Sunnova provides comprehensive repair services for solar systems, ensuring long-term performance and reliability.
• Rooftop Solar Removal and Reinstallation (R&R): Sunnova offers services for the removal and reinstallation of solar panels during roof repairs or replacements.

Corporate Governance

Sunnova is led by a team of experienced professionals in the energy sector. William J. (John) Berger serves as the CEO, with a board of directors that includes experts in finance, energy, and technology.

Financial Performance

Sunnova has demonstrated steady growth in revenue and customer base since its founding. The company went public in 2019, trading on the New York Stock Exchange under the ticker symbol "NOVA." Its financial performance has been bolstered by the increasing demand for residential solar energy and energy storage solutions.

Controversies and Criticism

Sunnova has faced some criticism and legal challenges, primarily related to customer service and contract disputes. However, the company has addressed these issues by improving its service offerings and customer support systems.

Awards and Recognition

Sunnova has received several industry accolades for its contributions to the renewable energy sector. The company has been recognized for its innovation in energy storage and its efforts to expand access to solar energy across the United States.