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.
US residential solar installer Sunnova continues to reduce its net loss in the first quarter of 2022, despite increasing its revenue due to a higher demand of additional energy services.
