“We’re the first solar company that went public that’s headquartered in Houston,” CEO John Berger tells GTM. “Now you know the energy business has really changed.” Shares of residential solar company Sunnova ended their first day of trading on Thursday at $11.25, below their initial price of $12 and well south of a range of […]
Massachusetts Storage Market Imperiled by Requirement to Buy New Utility Meters
Should solar customers have to pay for a new meter to measure their generation, or is their own smart inverter good enough? Massachusetts rolled out a new incentive last year to spur solar and energy storage adoption, but installers are worried that a technical requirement could foil the goals of the program. The Solar Massachusetts […]
Dividend Finance Enters Solar Loan Partnership With KeyBank
Residential solar loan providers are increasingly teaming up with banks, potentially boosting their margins while lowering interest rates for customers. Solar loan provider Dividend Finance will begin originating loans financed by KeyBank, offering the bank’s financing next to its own residential solar loans. The deal, involving a large bank and the solar loan provider ranked […]
The Sunnova IPO: 3 Strategies for Success
Wood Mackenzie’s Michelle Davis looks at how Sunnova could thrive after what would be the first residential solar IPO in years. On June 27, 2019, Sunnova submitted a pre-initial public offering prospectus to the U.S. Securities and Exchange Commission. It would be the first residential solar company to go public in the U.S. since 2015. […]
Why Long Island Could Become New York’s First Energy Storage Hot Spot
The region stands to benefit from storing renewable power, and $55 million of new incentives could get the market going. It can be hard to keep up with the steady drumbeat of energy storage policy updates emanating from the Northeast, and New York in particular, but last week’s announcement of $55 million allocated for Long […]
Tesla’s Drop Continues in US Residential Solar Rankings
The company’s market share has plunged as it moves to lower its customer acquisition costs. Tesla sank to third place among U.S. residential solar providers for installations in the first quarter of 2019, continuing the one-time market leader’s dramatic decline. The latest ranking from Wood Mackenzie Power & Renewables shows Vivint Solar knocking Tesla out […]
Report: US Residential Solar Financier Sunnova Plans IPO
A public offering is in the works for the country’s fourth-largest residential solar TPO provider, according to a Reuters report. Sunnova Energy Corp., among the largest U.S. residential solar third-party ownership providers, is planning an initial public offering that could value the Houston-based company at more than $1 billion including debt, according to a Tuesday […]
Summit Ridge Energy Secures Project Finance Fund for 100MW of Community Solar
One more financier is jumping into the budding community solar market. Low-carbon investment firm Hannon Armstrong has partnered with developer Summit Ridge Energy to finance community solar projects, the companies announced this week. The companies structured the deal as a joint venture called Summit Ridge Capital, which will invest cash equity in community projects that […]
GAF Energy Claims to Have Installed ‘Hundreds’ of Its Solar Roofs, Outpacing Tesla
As part of a huge roofing company, GAF Energy says its customer-acquisition costs are lower than the industry’s average, giving it an advantage. GAF Energy, the solar roof company owned by global roofing manufacturer Standard Industries, says its contractors have deployed “hundreds” of installations since its January launch, suggesting it may be outpacing larger rival […]
SunPower Fleshes Out Future Vision as an Energy Services Company
As it looks to sell its Oregon factory, SunPower is pushing into storage and energy services. “We’ll take over your energy bill,” the company aims to be able to tell future customers. After a string of big losses, SunPower is working to overhaul its business and financials. In September, the California-based solar manufacturer and development […]