Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential solar and storage service provider, announced a strategic partnership with Generac Power Systems, Inc. (“Generac”) (NYSE: GNRC), a leading global designer and manufacturer of energy technology solutions and other power products.
In addition to leveraging both companies’ extensive dealer and installer networks, the partnership will make Sunnova the exclusive Lease and Power Purchase Agreement (PPA) provider for the PWRcell energy storage system (“PWRcell system”) sold by contractors using Generac’s PowerPlay design and quoting platform in the U.S. and its territories.
Sunnova and Generac will offer Generac’s PWRcell system with Sunnova’s Lease, PPA, Loan and other financing agreement offerings through Sunnova’s approved vendor list. Sunnova is the only Generac partner to bring a 25-year service agreement to the PWRcell system, which is the longest term for a Generac partner. The PWRcell system will provide homeowners greater flexibility to install and size their storage capacity by offering customers the option of a modular battery system so that they can customize their solar storage needs.
“We want to empower our customers to find the solar and storage solutions that best fits their energy needs, and we believe our partnership with Generac will provide even more top-quality storage options to a broader array of homeowners,” said Michael Grasso, EVP, Chief Marketing Officer at Sunnova. “Generac’s strong consumer brand and history of powering homes during critical times directly aligns with our mission: to Power Energy Independence. Generac’s PWRCell system, paired with Sunnova’s comprehensive suite of solar products and services, will advance our vision of bringing solar to more and more homes across America.”
“We are excited to work with Sunnova, a market leader in the sales, installation and servicing of solar and storage systems,” said Russ Minick, Chief Marketing Officer at Generac. “Sunnova’s service offerings combined with Generac’s PWRcell technology and our vast network of installers make energy storage solutions accessible to even more homeowners.”
Generac | http://www.generac.com