sunnova

US firm Sunnova has reported reduced losses in the second quarter of 2024, with losses falling to US$79.7 million.

Sunnova's new customer additions continued to drop in the first quarter in 2024, but its adjusted EBITDA increased by over 200%.

Sunnova has expanded its virtual power plants (VPPs) to better manage the grid in six US states, plus the territory of Puerto Rico.

US residential solar companies Sunrun, Sunnova and power product supplier Generac have been selected by the US Department of Energy (DOE) to install rooftop solar and battery storage systems for vulnerable households in Puerto Rico.

US residential solar installer Sunnova's new customer addition slightly dropped to over 37,000 in the third quarter this year, while its net loss in the same quarter increased to US$56.5 million year-on-year.

The US Department of Energy has agreed to supply up to US$3.3 billion in loan funding to US residential solar developer Sunnova.

US residential solar installer Sunnova has recorded a reduced adjusted EBITDA year-on-year of US$28.1 million for the second quarter of 2023 although its revenue increased by 13.2%.

Sunnova aimed to tap into the opportunities in the market as its electricity prices are about US$0.43 per kWh, three times the average power price in the US.

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.