Sunnova Reiterates Commitment to Project Hestia, Ethical Business Practices, and Customer Service
11 Diciembre 2023 - 6:40PM
Business Wire
Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), a
leading adaptive energy services company, today reiterated that the
Company stands firmly behind Project Hestia, a transformative
initiative through the U.S. Department of Energy (DOE) Loan
Programs Office (LPO) that is benefitting customers, empowering
communities, and enhancing the overall energy landscape in the
United States.
The announcement was made in light of recent media reports, and
Sunnova maintains an unwavering focus on system services and will
continue its commitment to the highest levels of ethical
practices.
“Project Hestia stands as a testament to Sunnova and the DOE’s
unwavering commitment to empowering disadvantaged communities and
enhancing the overall energy landscape in the United States,” said
William J. (John) Berger, founder and Chief Executive Officer of
Sunnova. “Unfortunately, we have become a political football in an
environment where the renewable energy industry is increasingly
caught in the crosshairs. Despite this, Sunnova remains dedicated
to delivering on our goal of providing clean, affordable, and
reliable energy services.”
Under Project Hestia, the government has not provided Sunnova
with any funding whatsoever:
- Project Hestia is a partial loan guarantee financing under
which the federal government provides assurance to lenders that
they will be paid back.
- In this arrangement, the government backstops $3.0 billion in
payments associated with Sunnova’s solar and solar plus storage
loan originations.
- Sunnova, not the taxpayer, is in the “first loss” position,
which incentivizes Sunnova to underwrite responsibly.
Sunnova maintains an unwavering focus on system
services:
- Sunnova is committed to a comprehensive, sustainable, and
streamlined approach to energy management, providing up to 25 years
of service for its solar and battery storage customers.
- With over 385,000 solar and battery storage customers, the
Company has made substantial investments in its customer service
infrastructure. Notably, Sunnova's service technician team has seen
remarkable growth of 230% since 2020, enabling the Company to
respond faster and with greater precision.
- Additionally, Sunnova's state-of-the-art Global Command Center
(GCC) in Houston is equipped with cutting-edge technologies,
analytics, and tailored solutions, all geared toward enhancing the
customer experience.
Sunnova is deeply committed to upholding the highest levels
of ethical business practices:
- All customers, regardless of age, undergo a rigorous validation
process before their contract is finalized. During this critical
phase, Sunnova collaborates with its dealer network to meticulously
confirm the customer's identity and ensures they have a
comprehensive understanding of the agreement's terms. This
commitment is not only vital for customer protection but also
underscores Sunnova's dedication to upholding the integrity of its
services. It is important to note that Sunnova, as a matter of
legal obligation, cannot discriminate based on age.
- In unfortunate circumstances where a customer of any age passes
away, Sunnova's commitment extends to assisting the customer's
family during these challenging times. The Company diligently
ensures that agreements can be seamlessly transferred to new
owners, and it remains ready to collaborate with customers facing
extenuating circumstances, tirelessly working to find equitable
solutions.
Sunnova operates with the utmost rigor in governance and
ethical business practices:
- Sunnova places great importance on upholding the highest
standards of integrity in all its dealings.
- The Company primarily relies on a network of reputable dealers
for origination and installation, and it is committed to refusing
to onboard or terminating dealers with poor reputations or those
found to be engaged in improper business practices.
Sunnova committed to Project Hestia and Puerto Rico:
- Prior to executing the agreement, the DOE executed a six-part
evaluation of the project with Sunnova. This evaluation was done
under the Program Guidance for Title 17 Clean Energy Financing
Program issued by the U.S. DOE LPO and included formal submissions
of project plans and Sunnova’s credentials.
- As the largest residential solar and battery storage service
company in Puerto Rico with over 59,000 customers, Project Hestia
reflects our decade-long history and commitment to Puerto Rico, and
we continue to invest in service on the island.
- In October 2022, during the aftermath of Hurricane Fiona,
Sunnova powered the homes of over 30,000 customers with solar and
battery storage in Puerto Rico when the centralized utility was
unable to provide electricity.
- In April, Sunnova established a call center in Puerto Rico with
Spanish-speaking operators to provide quicker customer support and
dispatch immediate service requests to the Island.
- Additionally, Sunnova has more than doubled its service
technician team in Puerto Rico.
- Puerto Rico was Sunnova’s first 24-hour service response time
market.
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is an
industry-leading adaptive energy services company focused on making
clean energy more accessible, reliable, and affordable for
homeowners and businesses. Through its adaptive energy platform,
Sunnova provides a better energy service at a better price to
deliver its mission of powering energy independence. For
more information, visit http://www.sunnova.comTM.
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version on businesswire.com: https://www.businesswire.com/news/home/20231211257241/en/
Sunnova Media Contact: Srishti Ahuja Tandon
Srishti.ahujatandon@sunnova.com
Sunnova Investor Contact: Rodney McMahan 877-770-5211
IR@sunnova.com
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