Sunnova and ITOCHU Announce Investment and Business Alliance to Promote the Service and Capabilities of Solar Plus Storage Solutions in the United States

03 Dec 2018

Sunnova Energy Corporation, the leading privately-held U.S. residential solar and battery storage service provider, announced its business alliance with ITOCHU Corporation, as part of its long-term solar plus storage business strategy for residential households. ITOCHU’s equity investment in Sunnova, and the two company’s proposed strategic partnership, furthers Sunnova’s mission to power energy independence. Together, Sunnova and ITOCHU intend to collaborate on the development of solar plus storage solutions suitable for the U.S. market. The companies also intend to evaluate “GridShare Client,” the AI software of Moixa Energy Holdings Ltd., for Sunnova’s solar plus storage systems. 

Sunnova is one of the leading residential solar and storage service providers in the United States. With 60,000 customers (over 400 MW of solar installation) in 22 U.S states and territories including Guam, Puerto Rico and the Northern Mariana Islands, Sunnova continues to expand its solar plus storage offerings to homeowners across the United States. 

In Japan, ITOCHU has developed and commercialized its own solar plus storage brand—Smart Star—with NF Corporation and has recorded cumulative sales of approximately 10,000 units (equivalent to 95MWh/30MW) as of October 2018. In November 2018, ITOCHU also commenced sales of a next-generation solar plus storage solution, which connects GridShare Client, the AI software of Moixa, with Smart Star from ITOCHU. 

“Sunnova’s goal is to provide consumers the choice of affordable, clean solar plus storage technology that generates long-term valuable energy service for consumers,” said William J. (John) Berger, Chief Executive Officer of Sunnova Energy Corporation. “By strategically applying the many years of energy industry experience between Sunnova and ITOCHU, we look forward to continuing to support consumer choice and energy reliability while powering energy independence.” 

“Sunnova brings a wealth of experience, credibility and strategic thinking that complements our approach to evolving business models and enhancing value for our customers,” said Koji Hasegawa, General Manager, Industrial Chemicals Department of ITOCHU Corporation. “Together, we will be able to positively impact and drive forward the growing global solar plus storage marketplace.” 

Sunnova | http://www.sunnova.com

ITOCHU Corporation | http://www.itochu.co.jp