Sunnova enters the commercial and industrial solar market
Sunnova Energy International is expanding its energy service offerings to the commercial solar market, citing the passage of the Inflation Control Act as a major reason. The IRA is expected to increase the deployment of commercial solar power projects by 20% over the next five years, according to a SEIA/Wood Mackenzie Power & Renewables US Solar Market Insight report.
As Sunnova Energy Services expands into an underserved commercial market, companies will be able to control their energy costs by transitioning to solar, acquiring flexible backup power, and leveraging available revenue streams such as selling excess solar to the grid. Or participate in local network services.
“Electricity use can be one of the biggest unpredictable costs businesses face, and unexpected power losses due to utility outages can add to expenses and hardship,” said William J. (John) Berger, founder and CEO of Sunnova. “We see significant growth opportunity in the commercial solar market which is a natural extension of our market-leading services on the residential side.”
With a total addressable market of about 145 gigawatts only 5% penetrated, according to Wood Mackenzie, Sunnova will leverage its network of merchants who wanted to sell commercial solar power, or who already do, to facilitate rapid entry into the market.
“We are excited to enter this underserved market segment to help companies manage their energy needs with a different and innovative approach,” said Michael Grasso, Executive Vice President, Head of Marketing and Growth at Sunnova. Sunnova will provide companies with a full range of energy technologies, financing options, and services designed to meet specific energy needs, business objectives, and local utility price structures.
Besides its technology, Sunnova is promoting its 25-year service warranty, the Sunnova Protect Business Plan, as an important part of its C&I entry.
Sunnova will also provide flexible financing options for systems starting at 50 kW that meet the preferences and tax status of each company.
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