Sunnova Debuts New Bundled Roofing + Solar Finance Offering
February, 05, 2020
HOUSTON--(BUSINESS WIRE)-- Sunnova Energy International Inc. (NYSE: NOVA) announced today the Company is launching a new, innovative product, which bundles financing for roof replacements with a Sunnova solar or solar + battery storage system under a single loan or finance agreement. The new product will allow customers to work with a single Sunnova dealer who will coordinate both the installation of a new roof and the installation of the solar, or solar plus battery storage system, ensuring a seamless and hassle-free customer service experience.
This product offering will enable homeowners to install a new, durable roof together with a state-of-the-art home solar system, helping to defer future roofing and solar removal/reinstall expenses. In addition, the finance agreement provides homeowners with additional peace of mind, as their new roof will be constructed with high quality materials and covered by both a 25-year manufacturer’s and 10-year workmanship warranties. In addition, Sunnova solar systems are covered by the Sunnova Protect™ 25-year service guarantee.
“As we continue to see rising demand for residential solar, we often find potential customers who want to go solar, but the age or condition of their roof prohibits us from being able to install solar without the replacement of their roof. This unique offering is focused squarely on addressing this issue—enabling more homeowners to choose a clean and affordable energy system with the convenience of a bundled roof and solar service from a trusted provider,” said William J. (John) Berger, Chief Executive Officer of Sunnova Energy International. “This product will help address a real gap in the marketplace and will further increase our industry-leading growth rate.”
“Launching this product provides another way for our dealers to offer a holistic energy experience for our customers,” said John Santo Salvo, Executive Vice President, Channel Operations and Chief Procurement Officer at Sunnova. “This is another link in our value chain that enables our dealers to source solar, storage, service and now roofing from a single, national service provider.”
Houston-based Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and battery storage service provider with customers across the U.S. and its territories. Sunnova is the source for clean, affordable, and reliable energy, with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted™.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates,” “going to,” "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding the bundled roofing + solar finance offering providing homeowners with additional peace of mind; the rising demand for additional solar; and that the product will help address a real gap in the marketplace and will further increase our industry-leading growth. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, our competition, fluctuations in the solar and home-building markets, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the Securities and Exchange Commission, including Sunnova’s prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on July 26, 2019 and in Sunnova's other filings with the SEC, which are available free of charge on the SEC's website at: www.sec.gov. The forward-looking statements in this release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
1. Conditions and limitations apply. Refer to Warranty Agreement (included with Home Improvement Agreement) and the roof manufacturer's warranty provided by Sunnova dealer for details.
Sunnova Energy International Inc.
Source: Sunnova Energy International Inc.