US residential solar installer Sunnova posted an improved adjusted EBITDA of US$14.6 million in the first quarter of 2023, while it is expecting a year-on-year increase of up to 114% in its adjusted EBITDA this year.
US residential solar installer Sunnova has secured a conditional commitment from the US Department of Energy which will offer up to US$3 billion in a partial loan guarantee.
US residential solar installer Sunnova lost US$20.9 million in Q4 2022, while its net loss attributable to shareholders in 2022 amounted to US$161.6 million last year, according to its latest financial results announcement.
Demand is soaring in the US for residential solar and storage, driven by a desire for energy resilience and sustainability, but traditional utilities are hampering progress.
US residential solar installer Sunnova has applied to the California Public Utilities Commission (CPUC) to develop a “first-of-its-kind” solar and storage focused “micro-utility” in the state.
US residential solar installer Sunnova plans to offer a US$425 million private placement of convertible senior notes due in 2028, to pay off debts and fund operating costs.
