Nearly 2 GWh of energy generated and supplied while Puerto Rico electric grid was down
Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, announced that it powered the homes of over 30,000 customers with solar and battery storage in Puerto Rico during the aftermath of Hurricane Fiona, from September 18 to October 1, 2022, while the centralized monopoly power system had been damaged and was unable to deliver power to the people of Puerto Rico.
During the approximately two weeks immediately following the hurricane, when most residents in Puerto Rico were without power, Sunnova SunSafe ® solar + storage systems generated a total of nearly 2 GWh of energy. Over this time period, Sunnova provided 3.4 million hours of aggregate back-up power for solar + storage customers in Puerto Rico, with an average of 128 hours of power generated per household. Sunnova customers averaged 5.3 days of solar + storage battery backup with many residents remaining dependent on their Sunnova system for more than 10 days.
“We’re proud of our long history and commitment to Puerto Rico that includes an investment of more than $1 billion in building residential solar and storage systems on the island. That investment meant 30,000 customers were able to keep the lights on and their families safe,” said John Berger, CEO of Sunnova. “We believe this demonstrates that in times of an emergency, a solar + storage system provides homeowners the peace of mind that comes with producing and storing their own power. As the largest provider of distributed residential solar power on the island, Sunnova is committed to providing Puerto Ricans with clean, resilient and affordable energy services backed by the best service in the industry.”
“Out of our more than 30,000 Sunnova SunSafe® systems in Puerto Rico, only 59 required repair in the two weeks following the Hurricane, and Sunnova dispatched crews immediately to repair or replace non-performing systems, whether they were leased or owned,” said Michael Grasso, Chief Marketing and Growth Officer of Sunnova. “Looking ahead, we see an opportunity for distributed power to play a larger role in Puerto Rico by networking our solar + storage systems into powerful virtual power plants that would complement the centralized electric system and drive increased grid resiliency.”
Sunnova has been active in Puerto Rico since 2013 and has the largest presence on the island with over 38,000 customers and growing rapidly. Sunnova has deployed nearly 40,000 batteries in Puerto Rico and has a 100% battery attachment rate since 2018. Sunnova provides long-term security to Puerto Rican homeowners with its Sunnova Protect® energy guarantee for 25 years of worry-free service that includes maintenance, monitoring, repairs, and replacements.
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “going to,” “could,” “intend,” “target,” “project,” “contemplates,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding future performance of Sunnova systems and implementation of future programs to increase grid resiliency. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, changes in regulations applicable to our business, fluctuations in the solar and home-building markets, availability of capital, supply chain uncertainty, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2021, and our subsequent Quarterly Reports on Form 10-Q. The forward-looking statements in this press release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
Sunnova Energy International Inc. (NYSE: NOVA) is a leading U.S. Energy as a Service (EaaS) provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable, and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®. For more information, please visit sunnova.com.