Sunnova

Sunnova Energy International Inc. (NOVA) is a leading provider of residential solar energy systems and services in the US. Founded in 2012 and headquartered in Houston, Texas, Sunnova has rapidly expanded to serve over 419,000 customers across more than 45 US states and territories as of December 2023.

The company offers comprehensive "adaptive home" solutions integrating solar panels with battery storage, energy control technology, EV chargers and other components. Sunnova allows homeowners to generate and store their own renewable energy while optimizing consumption. Their core products include solar photovoltaic systems, home batteries from manufacturers like Tesla, Enphase and Generac, and EV charging stations. As of late 2023, Sunnova had 2.5 gigawatts of solar capacity and 1,090 megawatt-hours of energy storage under management.

A key differentiator for Sunnova is their 25-year Sunnova Protect Platinum warranty which covers the entire solar system including all components, repairs, replacements, production guarantee and monitoring - one of the most comprehensive warranties in the industry. The company partners with vetted local installers across the country to implement its solutions.

In March 2021, Sunnova acquired SunStreet Energy Group, Lennar Corporation's residential solar platform, becoming Lennar's exclusive solar and energy storage provider for new home communities with solar systems installed. The company has also partnered with Home Depot to offer its services through the retailer's stores nationwide starting in 2024.

Key customers and partnerships

Sunnova has established partnerships with major companies and customers across diverse industries to deploy its solar and energy solutions. Notable partnerships include:

- Home Depot (March 2024) - To offer Sunnova solutions in over 2,000 Home Depot stores nationwide

- Lennar Corporation (March 2021 acquisition) - Exclusive solar/storage provider for Lennar's new home communities

The company serves over 419,000 residential customers across the US as of late 2023, with particularly strong adoption in states promoting solar initiatives. Key customer segments include homeowners, home builders and community developers seeking sustainable energy solutions.