Sunnova raises $145m for growth
Sunnova Energy says it has raised $145m to “to accelerate customer acquisition and market growth” in its residential solar leasing business.
The upstart Houston-based company says it attracted “very successful energy investors and institutions” but did not name them. Chris Wailes, a spokesman, was unavailable for comment.
Sunnova has solar service agreements with homeowners in 19 states and Puerto Rico.
Sunnova contractors install panels the company owns and then enter long-term leasing deals with homeowners that pay for electricity generated. The panels displace an average 70% of power normally purchased from the utility.