Michael Grasso, Executive Vice President and Chief Marketing Officer
Like a sprinter out of the starting blocks, Sunnova has burst head down and full speed into 2020. Two months under way, we, as a company, have advanced towards our mission to power energy independence. A corporate best 2019 at our back, a stable platform for growth under our feet and a thoughtful plan to guide us, 2020 is a race we are striving to win.
With our recent addition of Colorado to the list of states we serve, we have extended our solar reach to over 35 million homeowners and, with our growth in storage products, over 80% of those homeowners now have access to Sunnova SunSafe™. We are bringing our energy services to markets where they are needed to combat grid instability and weather-related power outages.
Some new services that we have launched to fuel our growth include our Homebuilder product line and the ability to couple Originators (those who sell) and Installers (those who construct) into a singular process. These capabilities allow us to further grow our dealer base and serve new markets.
We also brought to market a solar and solar + storage roofing finance offering. Many solar shoppers are unable to make the switch because the age or condition of their roof prohibits us from being able to install solar without replacing their roof. This new offering will remove another barrier for homeowners looking to go solar and allows our dealers to qualify sell and install home solar systems for these customers.
You may have also heard the news about our new relationship with Generac. An American grown business of more than 60 years, Generac’s entry into the solar and energy storage space signals additional, significant investment in growing the residential rooftop solar and energy storage space. Generac will offer consumers an additional option for the hardware that captures, converts, stores and manages energy for their homes and our exclusive partnership with Generac creates advantages for both Sunnova and our dealers.
Sunnova is one of the solar companies leading the way. We are growing our influence by working toward bringing homeowners a better energy experience at a better price, and our customers are benefiting from our efforts. We’ve even adorned our building at 20 Greenway with our Sunnova logo to remind Houston of who we are and where we come from. Though this year started as a sprint, we know this journey is a marathon. I hope that each of you has tightened your laces as we have a lot more ground to cover. I’m proud to be part of the Sunnova team and to run alongside each of you as we pursue our mission to power energy independence.
NOVA by the Numbers
2019 Sunnova Earnings Highlights
On February 25th, we held our Q4 2019 earnings call. For those who would like to listen to our earnings call and/or view our earnings presentation, you can find those materials on our Investor Relations webpage.
2020 Major Metrics Goals
- Added over 18,000 customers in 2019, increasing total customer count 30% year-over-year to 78,600
- Exceeded midpoint of guidance for each 2019 financial metric
- Increased storage attachment rate on origination to 24% in the fourth quarter of 2019
- Raised our 2020 guidance on our Q4 2019 earnings call
New Market Entry
Growth and expansion allow us to offer clean, reliable, and affordable energy to more people. We’re now offering homeowners in the following markets the opportunity to control their energy needs by Powering Energy IndependenceTM.
- New Hampshire
New Bundled Product
We’re now offering homeowners an innovative home solar + roof replacement product. Coming soon to California and New Jersey, eligible customers can install a new, durable roof and home solar system under a single loan or finance agreement with Sunnova. We’re also offering roofing with our Sunnova SunSafe® home solar + battery storage system.
In the News
- Houston solar energy exec shines light on company growth and IPO
- Sunnova, Generac Provide Energy Independence to Homeowners
- Sunnova CEO John Berger adjusts to life running a public company
- Sunnova expands into Colorado, New Hampshire and brings storage product to South Carolina
Name: Sam Wright
Title: Account Manager
- What’s your new title, where are you located and how long have you been with Sunnova?
“Not really a ‘new’ title, but I’m an Account Manager, live in Maryland, and have been with Sunnova for about 1 ½ years.”
- What’s your role at Sunnova?
“I provide account support and communication to our dealers, sub-dealers, and their teams.”
- What do you like most about working at Sunnova?
“Every day I get to work with colleagues and dealers that are passionate about accelerating the adoption of renewable energy.”
- Tell us an interesting fact about yourself?
“My life is fully solar powered. My home has rooftop solar with storage, a geothermal system for heating and cooling, and I drive an electric vehicle.”
Five-Star Review, January 17, 2020
“Our 18kW solar with 10kW Tesla storage was turned on literally hours before the first-ever PG&E PSPS shutdown. We had sufficient solar and storage to be completely off the grid for the entire 61 hours of that event with little to no impact.”
Five-Star Review, January 22, 2020
“Sunnova made it easy, fast, and free from any hassle. They helped me understand the entire process from start to finish. It feels great and I would recommend Sunnova to anyone interested in a great home solar system as well as a home battery system.”
Five-Star Review, February 10, 2020
“I'm very satisfied with my service. From the salesman to the installers both roof and solar panels and everyone in between, the process was done timely, efficiently and all of my questions were answered at any time during the process.”