US residential solar installer Sunnova is to launch an energy plan aimed at providing new customers with discounts on utility power prices.
The plan will provide new customers with a fixed percentage discount on prevailing utility tariffs and a 25-year market-based rate for their power in a bid to protect consumers from volatile energy prices.
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
The plan is intended to differ from traditional solar plans which set contract rates that rise with inflation, instead tracking the market price more closely. Customer discounts will be adjusted yearly with Sunnova monitoring market utility prices.
The offer will be an option within Sunnova’s Easy Plan Power Purchase Agreement (PPA).
Michael Grasso, EVP, chief marketing and growth officer at Sunnova, said: “For the first time, homeowners will be able to lock in a fixed discount to their local utilities’ electricity rates and charges for a full 25 years.”
Last week, Sunnova released its first quarter revenue for 2022 with an increase on revenue driven primarily by last year’s acquisition of residential solar platform SunStreet and a yearly growth of customer additions which it aims to double by the end of next year.
