Sunnova eyes energy services investments as solar enters ‘new phase’ of maturation

Facebook
Twitter
LinkedIn
Reddit
Email
Sunnova said customers now expected more from solar and storage investments than just a financial investment. Image: Sunnova/Sunstreet.

US residential solar installer Sunnova said it was investing in its end-to-end solar services to cater for customers demanding more from their rooftop installations.

Speaking as the installer disclosed its Q2 2021 financial results, Sunnova chief executive William J. Berger said that solar had entered a “new phase of maturation and growth” where a “new value proposition had emerged”. No longer was residential PV solely pitched as a financial product, it is now “actively focused on reliability and resiliency”, he said.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“Customers are now expecting a long-term energy service offering that is fast and intelligent. To meet this need, we have dedicated resources to building out our end-to-end software platform, which contains capabilities such as quoting tools for dealers, predictive service analytics for customers, and grid services software for aggregation,” Berger added.

Investments in additional services, both for end users and other companies involved in the solar supply chain, have become common in recent months, while grid services have emerged as an area of particular interest for residential solar installers in the US as specific states open up grid services markets. Sunrun has actively pitched this in previous quarters, while earlier this week microinverter supplier Enphase Energy said customers of its battery storage solution in certain states would be able to earn up to US$1,500 per year by allowing grid utilities to access their capacity.

It was also confirmed earlier this week that Sunnova had partnered with inverter provider SolarEdge and grid operator National Grid to participate in a grid stability project in New England, wherein customers will help provide voltage support.

Sunnova reported a 55% jump in year-on-year revenue in Q2 2021, with turnover reaching US$66.6 million. Customer numbers meanwhile leapt to 162,600 as of 30 June 2021, aided by 12,700 new customers through organic means and the introduction of 33,500 customers following its acquisition of rival installer SunStreet, which completed earlier this year.

But despite the influx of new customers and a jump in revenue, the installer’s quarterly losses soared to US$66.3 million on higher net interest costs, an US$18.8 million hit owing to unrealised losses on interest rate swaps and higher general and administrative expenses.

Sunnova did, however, reaffirm its guidance for the year, stating it still expected to add between 55,000 and 58,000 new customers organically in 2021, with earnings before interest, tax, depreciation and amortisation (EBITDA) expected to fall between US$80 – 85 million this year.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

September 5, 2025
During a week of major US clean energy developments, ContourGlobal, PSE, Arevon, and Ameren Missouri advanced solar projects across four states in the US.
September 5, 2025
Newly formed firm Solaris Assets has acquired the business operations and assets of Texas-based residential solar installer Sunnova.
September 4, 2025
ARENA has launched the second funding round of its AU$1 billion Solar Sunshot programme, making AU$150 million available.
September 3, 2025
US residential solar prices have remained at historic lows in the first half of the year despite market uncertainty and continued high interest rates.
September 2, 2025
Q Energy has reached financial close for Taurus B, a portfolio of seven solar PV plants in Spain with a combined capacity of 251.71MWp.
September 2, 2025
Spanish construction firm GES (Global Energy Services) has secured a contract to build a roughly 700MW solar-wind-storage hybrid project in Chile.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines