Easy Save Plan
With the Sunnova Solar Lease1, you’ll enjoy fixed monthly payments and guaranteed production levels. If your system produces less than the guaranteed amount of energy for a given year, you’ll be reimbursed for the difference. If your system produces more than the guaranteed amount, the surplus energy is yours at no extra charge.2 You also won’t have to worry about out-of-pocket expenses for maintenance and repairs since every Sunnova system comes with industry-leading warranty coverage10.
Although lease payments are the same from month to month, solar production varies based on factors like the weather, time of day and season of the year. When your system isn’t producing sufficient power, the utility grid will supply electricity for your home. Since your electricity consumption will be limited to mostly nights and cloudy days, your annual electricity costs should be significantly less than before going solar.
If your utility company provides credit for any excess energy your system produces and sends to the grid, this may help offset your consumption charges and further reduce your total electricity costs. Learn more about net metering.
Save even more up front.
When you sign up for the Sunnova Easy Save Plan, you have the option of including an escalator in your solar service agreement. The purpose of the escalator is to provide more savings in the early years of your agreement. You’ll pay a lower initial rate per kWh in return for a slight increase in your rate each year. The following illustration compares monthly payments over 25 years with and without an escalator.
At-A-Glance Comparison of Sunnova Solar Service Plans
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|Easy Save Simple||Easy Save Monthly||Easy Own||Easy Save|
|Agreement term||25 years||25 years||25 years||25 years|
|Federal tax credit to homeowner7||No||No||Yes||No|
|24/7 system monitoring||Yes||Yes||Yes10||Yes|
|Purchase option||Yes – ownership available after 5 years||Yes – ownership available after 5 years||Yes – immediate ownership||No|
1 You will sign a lease contract. No amount is due upon installation. No security deposit is required. You will lease the solar energy system for a 25-year term. You will make a monthly payment. If you choose a lease plan with escalator, your monthly payment amount will increase each year, effective the first month of the second year, based on the percentage of the applicable annual escalator. This rate may not measure the overall cost of financing the lease. An extra charge may be imposed at the end of the lease term.
2 Your solar system’s cumulative production will be evaluated each year, beginning on the third anniversary of your service agreement.
3 Easy Save Simple Plan monthly payments are fixed over a 12-month period and may be adjusted annually to more accurately reflect actual production, or to incorporate any escalator that may be included in the solar service agreement.
4 Easy Save Monthly Plan monthly payments will vary based on solar system production.
5 Easy Own monthly payments are fixed unless not optional additional payment is made in month 18.
6 Although the Lease Plan provides fixed payments, they may be adjusted annually to reflect any escalator that is included in the solar service agreement.
7 Homeowners may be eligible for a federal Investment Tax Credit (ITC) with the purchase of a solar system. To receive the full federal tax credit, they must have federal income tax liability at least equal to the value of the tax credit. If homeowners reside in a state that offers the Solar Renewable Energy Certificate (SREC), they must assign ownership of the SREC to Sunnova. Sunnova makes no guarantees regarding homeowner eligibility for tax benefits or SREC and does not provide tax advice.
7 Solar system’s cumulative production will be evaluated at the end of each 12-month service period to validate annual performance guarantee.
9 New homeowner is required to meet Sunnova’s credit requirements. Refer to your agreement for conditions and limitations.
10 In the state of Florida, Sunnova does not offer production guarantee or 24/7 system monitoring. Restrictions apply. Refer to your service agreement for complete terms and limitations.
10 Refer to the Limited Warranty in the customer’s agreement for complete warranty terms and limitations.