Sunnova Energy International Inc. (Nova): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide des énergies renouvelables, Sunnova Energy International Inc. (Nova) apparaît comme une force transformatrice, révolutionnant comment les clients résidentiels et commerciaux accèdent à l'énergie solaire. En mélangeant ingénieusement la technologie de pointe, des options de financement flexibles et des solutions d'énergie complètes, Sunnova a conçu un modèle commercial sophistiqué qui démocratise non seulement l'énergie propre mais permet également aux consommateurs de prendre le contrôle de leur consommation d'électricité. Leur approche innovante va au-delà des installations solaires traditionnelles, offrant un écosystème holistique de panneaux solaires, de stockage de batteries et de gestion de l'énergie intelligente qui promet l'abordabilité, la durabilité et l'indépendance énergétique sans précédent.

Sunnova Energy International Inc. (Nova) - Modèle d'entreprise: partenariats clés

Fabricants de panneaux solaires

Sunnova maintient des partenariats stratégiques avec les principaux fabricants de panneaux solaires pour assurer l'approvisionnement en équipement de haute qualité:

Fabricant	Détails du partenariat	Spécification de l'équipement
Solaire canadien	Fournisseur de panneaux primaires	Panneaux de la série Hiku7 (420-440W)
Enphaser l'énergie	Partenaire technologique de micro-encendant	Série de micro-leinverter IQ8
Solaredge	Technologie de l'onduleur et d'optimisation	Technologie de l'onduleur à ondes HD

Institutions financières

Sunnova collabore avec plusieurs partenaires financiers pour le financement solaire:

Institution financière	Financement	Volume de prêt (2023)
Goldman Sachs	Facilité de prêt solaire	Ligne de crédit de 450 millions de dollars
JPMorgan Chase	Financement du projet	Investissement de 325 millions de dollars
Citibank	Financement des énergies renouvelables	CONDITION DE CRÉDIT de 275 millions de dollars

Partenaires d'installation

Le réseau d'installateurs solaires certifiés de Sunnova comprend:

• Réseau d'installation de Sunrun
• Installations solaires Trinity
• Systèmes solaires Sunation
• Entrepreneurs de la ville solaire

Partenariats du générateur de maisons

Intégrations stratégiques avec des développeurs résidentiels:

Constructeur de maisons	Type de partenariat	Marchés couverts
Maisons de Lennar	Solutions solaires intégrées	12 États du pays
KB Home	Installation solaire standard	7 États du pays
Dr Horton	Package solaire en option	15 États du pays

Sunnova Energy International Inc. (Nova) - Modèle d'entreprise: activités clés

Conception et ingénierie du système d'énergie solaire

Sunnova a investi 11,5 millions de dollars dans la recherche et le développement en 2022. La société emploie 212 professionnels de l'ingénierie dédiés à la conception du système solaire et à l'innovation technologique.

Catégorie de conception	Volume de conception annuel	Capacité du système moyen
Systèmes solaires résidentiels	14 672 systèmes	8,5 kW par système
Systèmes solaires commerciaux	327 systèmes	125 kW par système

Installation de stockage du panneau solaire et de la batterie

Sunnova a complété 21 453 installations solaires en 2022, avec une capacité totale de 285,7 mégawatts.

• Installations dans 29 États
• Temps d'installation moyen: 2-3 jours
• Réseau de 650 partenaires d'installation certifiés

Services de stockage et de gestion d'énergie

SUNNOVA gère 42 187 systèmes de stockage d'énergie au troisième trimestre 2023, avec une capacité de stockage totale de 189,5 mégawatts.

Technologie de stockage	Nombre de systèmes	Capacité moyenne
Batteries au lithium-ion	38 456 systèmes	4,5 kWh par système
Systèmes hybrides avancés	3 731 systèmes	12,7 kWh par système

Financement des clients et développement du plan d'énergie solaire

SUNNOVA a créé 678,3 millions de dollars de prêts solaires et de baux en 2022, avec une valeur moyenne de contrat client de 35 200 $.

• Les options de financement comprennent les prêts solaires, les baux et les accords d'achat d'électricité
• Score de crédit client moyen pour le financement: 725
• Taux d'approbation: 76% des demandes

Maintenance et surveillance du système continu

SUNNOVA fournit des services de surveillance pour 86 542 systèmes d'énergie solaire actifs au quatrième trimestre 2022.

Service de maintenance	Couverture	Temps de réponse
Surveillance du système à distance	100% des systèmes installés	Alertes en temps réel
Vérification de la performance annuelle	86 542 systèmes	Dans les 48 heures

Sunnova Energy International Inc. (Nova) - Modèle d'entreprise: Ressources clés

Technologie avancée du panneau solaire et du stockage de batteries

Depuis le Q4 2023, Sunnova maintient un portefeuille technologique avec les spécifications suivantes:

Catégorie de technologie	Spécification	Métrique de performance
Efficacité du panneau solaire	22.5% - 25.7%	Panneaux monocristallins de niveau 1
Capacité de stockage de la batterie	10-20 kWh	Lithium-ion Technology
Taux de conversion d'énergie	97.6%	Performance de l'onduleur

Plateforme logicielle de gestion de l'énergie propriétaire

Caractéristiques clés de la plate-forme logicielle:

• Capacités de surveillance de l'énergie en temps réel
• Algorithmes de maintenance prédictive dirigés par l'IA
• Système d'intégration basé sur le cloud

Réseau d'installateurs solaires certifiés

Statistiques du réseau d'installation:

Métrique	Valeur
Total des installateurs certifiés	725
Couverture géographique	48 États américains
Temps de certification moyen des installateurs	3,2 ans

Ressources financières

Statut financier au 31 décembre 2023:

• Actif total: 2,3 milliards de dollars
• Equivalents en espèces et en espèces: 387,6 ​​millions de dollars
• Dette totale: 1,68 milliard de dollars
• Présentation des actionnaires: 612,4 millions de dollars

Portefeuille de propriété intellectuelle

Catégorie IP	Nombre de brevets	Statut de dépôt
Conception du système solaire	37	Accordé
Technologie de stockage d'énergie	22	En attente
Algorithmes logiciels	15	Inscrit

Sunnova Energy International Inc. (Nova) - Modèle d'entreprise: propositions de valeur

Solutions d'énergie solaire abordables et flexibles

Depuis le quatrième trimestre 2023, Sunnova propose des solutions d'énergie solaire avec la structure de tarification suivante:

Taille du système solaire	Gamme de coûts moyens	Options de paiement mensuelles
Système de 5 kW	$11,500 - $15,250	65 $ - 95 $ / mois
Système de 7 kW	$15,750 - $20,650	89 $ - 125 $ / mois
Système de 10 kW	$22,000 - $29,000	125 $ - 175 $ / mois

Réduction des coûts d'électricité pour les propriétaires

La proposition de valeur de Sunnova comprend une réduction importante des coûts d'électricité:

• Économies annuelles moyennes de la facture d'électricité: 1 500 $ - 2 200 $
• Économies potentielles de 20 ans: 30 000 $ - 44 000 $
• Réduction du taux d'électricité: 20% - 30% par rapport au réseau traditionnel

Alternative d'énergie propre et renouvelable

Métriques d'impact environnemental pour les installations solaires de Sunnova:

Métrique	Impact annuel
Les émissions de CO2 évitées	4,5 - 6,2 tonnes métriques par ménage
Des arbres équivalents plantés	75 - 100 arbres par installation solaire

Indépendance énergétique et résilience

Capacités de stockage de la batterie de Sunnova:

• Durée de sauvegarde de la batterie: 8 - 12 heures
• Capacité de stockage de la batterie: 10 - 20 kWh
• Taux de protection des panneaux de courant: 99,5%

Packages complets de stockage solaire et de batterie

Offres de forfait à partir de 2024:

Type de package	Composants	Coût total moyen
Solaire de base	Panneaux solaires, onduleur	$15,000 - $20,000
Batterie solaire +	Panneaux solaires, onduleur, stockage de batterie	$25,000 - $35,000
Résilience premium	Panneaux solaires, batterie, gestion de l'énergie intelligente	$35,000 - $45,000

Sunnova Energy International Inc. (Nova) - Modèle d'entreprise: relations avec les clients

Portail client en ligne pour la surveillance du système

Sunnova fournit une plate-forme numérique permettant aux clients de surveiller en temps réel des performances du système solaire. Au troisième rang 2023, la plate-forme prend en charge le suivi des installations solaires résidentielles de 95 214.

Caractéristique du portail	Disponibilité
Suivi de production d'énergie en temps réel	100% des systèmes installés
Visualisation des métriques de performance	Disponible pour tous les clients
Intégration d'applications mobiles	Plateformes iOS et Android

Services de support client dédié

Sunnova maintient une infrastructure complète de support client avec Assistance technique 24/7.

• Temps de réponse moyen du support client: 37 minutes
• Évaluation de satisfaction du client: 4.6 / 5
• Channeaux de support: téléphone, e-mail, chat en direct

Consultations personnalisées en énergie solaire

Sunnova propose des solutions solaires personnalisées avec des consultants en énergie dédiés.

Type de consultation	Couverture
Évaluation initiale du site	GRATUIT pour les clients potentiels
Conception du système personnalisé	Adapté aux spécifications de propriété individuelles
Analyse financière	Projections de retour sur investissement personnalisés

Prise en charge du suivi des performances et de la maintenance

Programme de maintenance proactif couvrant 100% des systèmes solaires installés.

• Vérification annuelle des performances du système
• Entretien prédictif à l'aide de capteurs IoT
• Couverture de garantie: Garantie de performance du système de 25 ans

Canaux de communication numériques

Stratégie d'engagement numérique multiplateforme.

Canal de communication	Utilisateurs actifs
Site officiel	387 000 visiteurs mensuels
Application mobile	142 000 utilisateurs actifs
Plateformes de médias sociaux	76 500 abonnés combinés

Sunnova Energy International Inc. (Nova) - Modèle d'entreprise: canaux

Équipe de vente directe

Au quatrième trimestre 2023, l'équipe de vente directe de Sunnova comprenait 436 représentants des ventes internes. L'équipe a généré 512,7 millions de dollars de revenus solaires et de stockage résidentiels au cours de l'exercice 2023.

Métrique du canal de vente	Performance de 2023
Représentants totaux des ventes directes	436
Revenus de ventes directes	512,7 millions de dollars
Revenu moyen par représentant des ventes	1,18 million de dollars

Site Web en ligne et plateformes numériques

La plate-forme numérique de Sunnova a traité 27 382 demandes de renseignements clients en 2023, avec un taux de conversion de 18,6% via les canaux en ligne.

• Trafic de site Web: 1,2 million de visiteurs uniques par an
• Demandes de devis en ligne: 51 340
• Coût d'acquisition numérique des clients: 247 $ par lead

Réseau d'installation solaire

Sunnova a maintenu un réseau de 287 installateurs solaires certifiés dans 29 États en 2023.

Métriques du réseau d'installation	2023 données
Total des installateurs certifiés	287
États couverts	29
Installations via le réseau	16 542 systèmes

Partenariats du générateur de maisons

Sunnova a établi des partenariats avec 42 organisations de constructeurs de maisons en 2023, intégrant les solutions solaires dans de nouveaux projets de construction résidentielle.

• Partenariats totaux du constructeur de maisons: 42
• Nouvelles installations du système solaire de construction: 3 876
• Valeur moyenne du système solaire par nouvelle maison: 22 140 $

Marketing numérique et génération de leads

En 2023, Sunnova a investi 14,3 millions de dollars dans le marketing numérique, générant 78 540 pistes solaires qualifiées.

Métriques du marketing numérique	Performance de 2023
Dépenses de marketing	14,3 millions de dollars
Total des pistes qualifiées	78,540
Coût d'acquisition de plomb	182 $ par avance

Sunnova Energy International Inc. (Nova) - Modèle d'entreprise: segments de clientèle

Propriétaires résidentiels

Au quatrième trimestre 2023, Sunnova a servi environ 91 000 clients dans 9 États. Le segment du marché solaire résidentiel représente 78,4% de sa clientèle totale.

Caractéristique du segment	Métrique
Taille moyenne du système résidentiel	8,5 kW
Installation résidentielle annuelle moyenne	12 500 systèmes
Taux de rétention de clientèle résidentiel	92.3%

Propriétaires de propriétés commerciales

Les installations solaires commerciales représentent 15,6% du portefeuille de clients de Sunnova.

• Taille moyenne du système commercial: 250 kW
• Projets commerciaux totaux en 2023: 487
• Concentration géographique: Texas, Californie, New Jersey

Marché de la construction de maisons neuves

Sunnova s'associe à des constructeurs de maisons dans 6 États, représentant 4,2% de leurs segments de clientèle.

Métrique du marché	Valeur
Taux d'intégration solaire de nouveaux maisons	37%
Partenariats avec des constructeurs de maison	22 partenariats actifs

Consommateurs soucieux de l'environnement

Ce segment représente environ 45% de la clientèle résidentielle de Sunnova.

• Âge moyen des clients de l'éco-conscient: 38 à 45 ans
• Revenu médian des ménages: 95 000 $
• Préférence pour le stockage de la batterie: 62%

Zones à taux d'électricité élevés

Sunnova cible stratégiquement les marchés élevés du taux d'électricité.

État	Taux d'électricité moyen	Pénétration du marché de la Sunnova
Californie	0,22 $ / kWh	34%
Hawaii	0,32 $ / kWh	22%
Massachusetts	0,25 $ / kWh	18%

Sunnova Energy International Inc. (Nova) - Modèle d'entreprise: Structure des coûts

Approvisionnement en équipement solaire et équipement de stockage

Au quatrième trimestre 2023, les coûts d'approvisionnement en équipement de Sunnova comprenaient:

Type d'équipement	Coût moyen par unité
Panneaux solaires	0,30 $ - 0,45 $ par watt
Systèmes de stockage de batteries	5 500 $ - 7 500 $ par système
Technologie de l'onduleur	1 000 $ - 2 000 $ par unité

Installation et coûts de main-d'œuvre

Répartition des dépenses d'installation pour 2023:

• Installation moyenne du système solaire résidentiel: 2,80 $ - 3,50 $ par watt
• Coûts de main-d'œuvre par installation: 2 500 $ - 4 000 $
• Frais d'autorisation et d'inspection: 500 $ - 1 500 $ par projet

Frais de recherche et de développement

Investissement en R&D de Sunnova en 2023:

Catégorie de R&D	Dépense
Dépenses totales de R&D	42,3 millions de dollars
Pourcentage de revenus	4.7%

Marketing et acquisition de clients

Mesures d'acquisition de clients pour 2023:

• Coût d'acquisition du client (CAC): 450 $ - 650 $ par client
• Dépenses de marketing: 87,5 millions de dollars
• Budget de marketing numérique: 65% du total des dépenses de marketing

Maintenance et surveillance du système continu

Structure des coûts de maintenance pour 2023:

Catégorie de maintenance	Coût annuel
Surveillance du système	120 $ - 240 $ par système par an
Entretien préventif	150 $ - 300 $ par système par an
Dépenses de maintenance totale	32,6 millions de dollars

Sunnova Energy International Inc. (Nova) - Modèle d'entreprise: Strots de revenus

Ventes d'équipement du système solaire

En 2022, Sunnova a déclaré des ventes d'équipements de système solaire de 130,2 millions de dollars. Le prix de vente moyen par système solaire résidentiel était d'environ 25 000 $ à 35 000 $.

Année	Ventes totales d'équipement	Prix ​​moyen du système
2022	130,2 millions de dollars	$25,000 - $35,000

Accords de location et d'achat d'électricité solaires

SUNNOVA a généré 443,5 millions de dollars de revenus de contrat d'achat de location et d'électricité en 2022, représentant 62% du total des revenus de l'entreprise.

• Les termes de location typiques varient de 10 à 25 ans
• Paiement de location mensuel moyen: 100 $ - 250 $ par client résidentiel

Revenus du système de stockage d'énergie

Les revenus du système de stockage d'énergie ont atteint 87,3 millions de dollars en 2022, avec environ 30% des nouvelles installations solaires, y compris des solutions de stockage de batterie.

Année	Revenus de stockage d'énergie	Pourcentage d'installations solaires avec stockage
2022	87,3 millions de dollars	30%

Frais de service de maintenance et de surveillance

Les frais de service ont généré 55,6 millions de dollars en 2022, avec une valeur de contrat de maintenance annuelle moyenne de 150 $ à 300 $ par système résidentiel.

Crédits d'incitation au gouvernement et aux services publics

SUNNOVA a reconnu 92,4 millions de dollars en crédits d'incitation au gouvernement et des services publics au cours de 2022, y compris des crédits d'impôt fédéral d'investissement et des incitations aux énergies renouvelables au niveau de l'État.

Type d'incitation	Crédits totaux (2022)
Crédits d'impôt fédéral d'investissement	76,8 millions de dollars
Incitations au niveau de l'État	15,6 millions de dollars

Sunnova Energy International Inc. (NOVA) - Canvas Business Model: Value Propositions

You're looking at the core promises Sunnova Energy International Inc. makes to its residential customers. These aren't just marketing slogans; they are backed by specific contract terms and operational scale as of late 2025.

Energy as a Service (EaaS) with low/no upfront cost

Sunnova Energy International Inc. centers its value on making solar accessible through its Energy as a Service (EaaS) model. This directly addresses the barrier of high initial investment for homeowners.

The model relies heavily on long-term contracts that minimize immediate cash outlay for the customer:

• Solar leases accounted for approximately 31% of customer contracts as of December 31, 2024.
• Power Purchase Agreements (PPAs) made up 28% of contracts as of December 31, 2024.
• The company is focused on its high-margin lease product, a Third-Party Ownership (TPO) model.

This focus on TPO models generated 64.47% of total revenue in Fiscal Year 2024, amounting to $541.53 million in Customer Agreements and Incentives Revenue.

Reliable, resilient power via solar plus battery storage

The value proposition is increasingly tied to energy resilience, evidenced by the growing adoption of integrated battery storage systems. This provides backup power when the grid fails, a major concern for homeowners.

Here is a snapshot of the scale and adoption:

Metric	Value as of Late 2024 / Projection	Source Context
Total Solar Power Generation Under Management	3.0 gigawatts (as of December 31, 2024)	Operational asset base
Total Energy Storage Under Management	1,662 megawatt-hours (as of December 31, 2024)	Operational asset base
Battery Attachment Rate (New Systems)	34% (in 2024, up from 27% in 2023)	Customer adoption trend
Projected HEMS Market CAGR	13.8% (between 2025 and 2034)	Market trend supporting storage value

The company's mission is explicitly stated as 'powering energy independence™'.

Predictable, often lower, monthly energy payments

Customers lock in a portion of their energy costs for the long term, reducing exposure to utility price volatility. For the variable billing option, the price per kWh is guaranteed to be at least 20% lower than the applicable utility's weighted-average rate.

The long-term nature of these contracts creates a highly predictable revenue stream for Sunnova Energy International Inc., which is key to its financing structure. The average customer agreement term is for 20 to 25 years.

Management projected cash generation for the 2025 fiscal year to be between $200 million and $500 million, with a specific guidance target of $350 million, a significant increase from the $100 million target achieved in 2024.

Energy independence from utility rate hikes and grid outages

The core appeal is reducing reliance on traditional utility providers. The guaranteed lower rate structure directly hedges against utility rate hikes.

The integration of battery storage, as seen by the 34% attachment rate in 2024, directly addresses grid stability concerns.

Even following the June 2025 voluntary Chapter 11 filing by a subsidiary, Sunnova Energy International Inc. secured interim relief to continue to uphold and honor loan agreements, lease agreements, and warranties.

Comprehensive service, maintenance, and warranty coverage

Sunnova Energy International Inc. takes on the obligation to manage the system throughout the contract term, which is a major differentiator from simple equipment sales. The Sunnova Protect program is designed to eliminate out-of-pocket expenses for repairs and maintenance.

The coverage details include:

• System components are covered for 25 years, including labor.
• Panel performance warranties are typically guaranteed for 25 years.
• The company agrees to maintain the solar and storage systems for the length of the term, typically 10 to 25 years.
• Complete management of repairs, replacements, and labor for system components, including the battery, are covered for 25 years.

Finance: draft 13-week cash view by Friday.

Sunnova Energy International Inc. (NOVA) - Canvas Business Model: Customer Relationships

You're navigating a complex environment, especially with Sunnova Energy International Inc. having filed for Chapter 11 in June 2025. The customer relationship strategy pivots heavily on assuring continuity and honoring existing commitments while the asset sale process unfolds.

Dedicated dealer support and training programs

Sunnova Energy International Inc. historically relied on a vast network to reach homeowners. As of December 31, 2023, this network comprised over 2,000 dealers, sub-dealers, and builders across 51 states and territories, which was fundamental to customer acquisition efforts.

The company made operational adjustments to align with funding cycles and profitability goals, including changing dealer payment terms in 2024. Post-restructuring, the focus shifted to managing these partner relationships carefully, with the Chapter 11 filing intending to settle dealer claims through an asset purchase agreement.

• Dealer network size as of December 31, 2023: over 2,000 partners.
• Dealer payment terms were revised in 2024 to align with funding sources.
• The Chapter 11 process included an intent to settle dealer claims with incremental financing.

Long-term service agreements and production guarantees

The core of Sunnova Energy International Inc.'s customer relationship is built into its long-term contracts, which provide recurring revenue streams. The Sunnova Protect® program is a key offering, providing 25 years of coverage for maintenance, monitoring, repairs, and replacements for systems owned by the homeowner and installed by a third party.

This focus on long-term agreements drove significant top-line growth in the service segment. Customer agreements and incentives revenue, which is core to the business operations, increased by 43% (or +$163.4 million) for the year ended December 31, 2024, compared to the year ended December 31, 2023. This growth was primarily due to an increase in the number of solar energy systems in service under these contracts.

Digital self-service via online monitoring portals

Digital tools are essential for managing a large, distributed fleet of systems and maintaining customer engagement without excessive manual intervention. Sunnova Energy International Inc.'s technology platform manages over 300,000 customer systems, providing real-time data to enhance service offerings.

This digital infrastructure supports the ongoing service component of the customer relationship, which the company intended to maintain in the ordinary course of business even after the June 2025 Chapter 11 filing.

High-touch support for managing the Chapter 11 transition

Continuity of service was stated as the top priority throughout the Chapter 11 process initiated in June 2025. The company secured interim Court approval to continue to honor post-petition obligations, including service agreements and production guarantees. Post-restructuring, the servicing responsibility for many in-service customer systems was assumed by SunStrong Management, an asset manager specializing in renewable-energy portfolios, ensuring a stable, customer-first approach for billing and support.

For customers, communication was directed to a specific restructuring website and Kroll for stakeholder questions. The ServiceCo division, responsible for operations & maintenance, was offered for sale to Omnidian Inc. for $7 million in cash plus liability assumption, a move designed to preserve operational continuity.

Focus on high-margin Third-Party Ownership (TPO) customers

Sunnova Energy International Inc. has strategically prioritized its high-margin lease products, which fall under the Third-Party Ownership (TPO) model. As of December 31, 2024, solar leases accounted for approximately 31% of customer contracts, making it the largest single contract type, ahead of Power Purchase Agreements (PPAs) at 28% and solar loans at 24%.

This focus on TPO products is explicitly tied to enhancing profitability and customer lifetime value. The company's pre-Chapter 11 optimization efforts in February 2025 were aimed at aligning resources with these most cash-generative areas.

Here's a quick look at the scale and structure of the customer base as of late 2024/mid-2025:

Metric	Value/Percentage	Date/Context
Total Cumulative Customers	Over 440,000	As of June 2025 declaration / Dec 31, 2024
Customer Contracts: Solar Leases (TPO)	31%	As of December 31, 2024
Customer Contracts: PPAs	28%	As of December 31, 2024
Customer Agreements & Incentives Revenue Growth	43% increase	Year ended December 31, 2024 vs. 2023
Battery Attachment Rate	34%	2024
Systems Managed by Technology Platform	Over 300,000	Pre-Chapter 11
Sunnova Protect® Coverage Term	25 years	Standard offering

The company projected generating $350 million in cash in 2025, signaling that maintaining the stability of these long-term customer relationships was central to its financial stabilization efforts, even under new ownership structures.

Sunnova Energy International Inc. (NOVA) - Canvas Business Model: Channels

You're looking at how Sunnova Energy International Inc. (NOVA) gets its solar and storage solutions into the hands of homeowners as of late 2025. The Channel strategy is built on a multi-pronged approach, though the operational reality shifted significantly following the Chapter 11 filing in June 2025, which resulted in the servicing of in-service systems being assumed by SunStrong Management.

National network of independent, certified solar dealers

The backbone of Sunnova Energy International Inc.'s origination has historically been its expansive network of independent dealers. These partners are the primary interface for many residential sales. Following operational changes in early 2025, the company acted to align funding sources by changing dealer payment terms, a move intended to support positive cash flow in 2025 and beyond.

The scale of the network, while not precisely quantified for late 2025, supports a customer base that reached over 441,000 customers by the close of 2024, spread across 51 U.S. states and territories.

• Dealer network supports sales across the majority of U.S. states.
• Dealer terms were revised in early 2025 to improve capital efficiency.
• The company mandated domestic content for its dealers to increase the weighted average Investment Tax Credit (ITC) percentage.

Strategic partnerships with large residential home builders

This channel provides a high-volume, efficient route to market by integrating energy solutions directly into new construction. As of early 2025, Sunnova Energy International Inc. had built strategic, long-standing relationships with more than 85 leading homebuilders.

This focus on new construction has been a major success story for the company's origination volume. The New Homes Business Division achieved a significant milestone by installing over 1 million solar panels on over 100,000 new-build residential single-family rooftops across the United States.

Direct sales channel for new home solar integration

The New Homes Business Division functions as a specialized, almost direct-to-builder sales and integration channel. This segment bypasses the traditional retrofit sales cycle by embedding solar and storage infrastructure during the home construction phase. This integration strategy is designed to lower the lifetime cost of home ownership for the buyer right from move-in day, eliminating retrofit burdens.

The volume here is substantial; the 100,000 new-build installation mark represents a significant portion of the total customer base growth, demonstrating the channel's importance in scaling deployment.

Digital marketing and lead generation for dealer hand-off

While specific late 2025 digital marketing expenditure figures aren't public, the model relies on digital efforts to feed the dealer network. The overall strategy emphasizes reaching new customers and diversifying revenue streams, which necessitates a strong top-of-funnel marketing effort to generate qualified leads for the independent dealer network to close.

The company's focus on high-margin lease products, or Third-Party Ownership (TPO), is a key element that marketing supports, as these financing structures broaden market accessibility.

Here's a quick look at the scale metrics associated with the primary channels leading up to the operational shift:

Metric	Value/Count	As of Date Reference
Total Cumulative Customers	Over 441,000	End of 2024 / Late 2025 context
Total Cumulative Solar Power Generation Under Management	3.0 gigawatts	December 31, 2024
Total Energy Storage Under Management	1,662 megawatt hours	December 31, 2024
New Homes Division Installations (Cumulative)	Over 100,000 rooftops	Early 2025
Number of Strategic Homebuilder Partners	Over 85	Early 2025
Projected 2025 Cash Generation	$350 million	2025 Guidance

The channel strategy is fundamentally about scale through partners, whether they are homebuilders or independent dealers, to drive the deployment of systems that generate recurring revenue streams.

Sunnova Energy International Inc. (NOVA) - Canvas Business Model: Customer Segments

You're looking at the core base of customers Sunnova Energy International Inc. serves, which is almost entirely residential homeowners across the United States. This segment is crucial because the company's financial health, especially post-June 2025 Chapter 11 filing, relies heavily on the stability and growth of these long-term contracts.

Residential homeowners in over 40 states form the foundation of the installed base. Sunnova Energy International Inc. offers its Energy as a Service (EaaS) model to these households, providing financing, design, installation, monitoring, and maintenance. The geographic reach is extensive, serving customers in 51 U.S. states and territories as of 2024. As of December 31, 2023, the total customer count stood at over 419,000 customers.

The company has a specific focus on new homebuyers seeking integrated solar and storage through its New Homes Business Division. This division has a significant track record, having installed over one million solar panels on more than 100,000 new-build residential single-family rooftops across the United States. To capture this market, Sunnova Energy International Inc. has built relationships with more than 85 leading homebuilders. The demand for integrated systems is clear, with battery attachment rates climbing to 34% in 2024 from 27% in 2023.

A key target is customers in high-utility-cost or grid-unstable regions. This is where the value proposition of energy independence and reliability resonates most strongly. Sunnova's operations are strategically concentrated in areas known for high solar irradiance and supportive policies, such as California, Florida, and Arizona. Customers in these areas are motivated by the desire to lower monthly electricity bills and gain dependable power during utility outages.

For its financing strategy, Sunnova Energy International Inc. emphasizes high-credit-quality customers for TPO products (Third-Party Ownership), which include leases and Power Purchase Agreements (PPAs). This focus is a direct response to the need for capital efficiency and predictable cash flow, especially given the challenging interest rate environment seen through early 2025. The recurring revenue stream from these long-term agreements is vital; customer agreements and incentives revenue, which is core to this model, saw a significant increase of 43% (+$163.4 million) in 2024.

Here's a quick look at some key operational metrics defining these segments as of late 2024/early 2025:

Metric	Value/Period	Source Year
Total Customers Served	Over 419,000	2023 End
Geographic Footprint	51 U.S. States and Territories	2024
New Home Rooftops Served	Over 100,000	2025 Announcement
Battery Attachment Rate	34%	2024 End
Customer Agreements Revenue Growth	43% (+$163.4 million)	2024

The profile of the ideal customer, particularly for the TPO segment, is one that values energy resilience and is willing to commit to a long-term service contract. The company's strategic streamlining in early 2025 aimed to align resources with these most cash-generative areas.

The types of energy solutions driving adoption within these segments include:

• Solar energy systems with integrated battery storage.
• Energy monitoring and control devices for home energy management.
• Solutions appealing to those seeking reduced reliance on traditional utilities.
• Offerings that provide backup power during grid interruptions.

Sunnova Energy International Inc. (NOVA) - Canvas Business Model: Cost Structure

You're looking at the cost side of Sunnova Energy International Inc.'s operations, which, honestly, has been heavily influenced by the cost of capital lately. The sheer scale of financing the solar assets means debt servicing is a major line item you can't ignore.

The High interest expense is definitely a headline figure. For the full year 2024, this expense hit $491.17 million. That jump in cost of borrowing really strains the model, especially when you're deploying capital-intensive assets.

Here's a quick look at some of the key cost-related financial metrics from the end of 2024:

Cost Component	Financial Amount (FY 2024)	Change from Prior Year
Interest Expense, Net	$491.17 million	Increased by $119.2 million (+32%)
Depreciation on Solar/Storage Assets (Component of Cost of Revenue)	Increase of $60.0 million	Increased by 46%
Cash Sales Costs (Related to Direct Sales)	Increase of $32.6 million	Increased by 62%

When we talk about the Cost of solar equipment and installation, that's baked into a few places. For systems they own (like in their PPA/lease business), the associated depreciation is significant. For cash sales, the direct costs rose sharply. For instance, cash sales costs increased by 62% (or $32.6 million) in 2024 versus 2023, driven by larger system sizes including more battery storage.

The Depreciation expense on owned solar assets is a non-cash charge, but it reflects the cost of the assets being put into service. In 2024, the depreciation related to solar energy systems and energy storage systems, which is part of the Cost of Revenue for customer agreements, increased by $60.0 million, representing a 46% jump year-over-year.

To counter these pressures, Sunnova Energy International Inc. announced a significant internal push for efficiency. They set an Operating expense reduction target of approximately $70 million annually. This effort involved streamlining operations and optimizing the workforce.

The actions taken to achieve those savings included several structural changes:

• Workforce reduction of nearly 300 positions, representing more than 15% of employees.
• These workforce cuts alone were expected to save about $35 million annually.
• The savings goal of $70 million annually comes from a mix of lower overhead expenses and reduced cash spending on capitalized costs.

Regarding Dealer payments and sales incentives, you see the company actively trying to manage this outflow. A key strategic move in early 2025 was explicitly changing dealer payment terms to align with their own funding sources. This is a direct lever to manage the cash timing related to upfront payments, bonuses, and exclusivity fees paid to dealers for originating systems. Revenue from customer agreements and incentives, which is tied to these dealer activities, still grew by 43% (an additional $163.4 million) in 2024.

Finance: draft 13-week cash view by Friday.

Sunnova Energy International Inc. (NOVA) - Canvas Business Model: Revenue Streams

You're looking at the core ways Sunnova Energy International Inc. brings in cash, which is all about the long-term service contracts. This model leans heavily on recurring revenue from systems already installed and operating, which is the key to predictable cash flow, even if the initial sales part of the business is getting a strategic pullback.

The primary engine here is the revenue tied to existing customer contracts. This includes the stream from Customer Agreements and Incentives, which was reported at $541.53 million in 2024. This category is the backbone of the business model, representing the steady income from the large, long-term contracted cash flow base.

The company's focus is clearly on maximizing the value from its installed base. Here's a quick look at how the major revenue components performed in the full year 2024 compared to 2023, based on the latest reported figures:

Revenue Stream Component	2024 Performance Metric	Value/Change
Customer Agreements and Incentives Revenue	Stated 2024 Amount	$541.53 million
Customer Agreements and Incentives Revenue	Year-over-Year Growth (9M 2024)	43% increase
Solar Energy System and Product Sales Revenue	Year-over-Year Change (Full Year 2024)	Decreased by 13% (-$44.1 million)
Customer Loan Revenue	Year-over-Year Growth (Full Year 2024)	Increased by 38% (+$13.2 million)
SREC Revenue	Year-over-Year Growth (Full Year 2024)	Increased by 16% (+$8.2 million)
Total Annual Revenue (Reported)	Full Year 2024	$839.92 million

The monthly payments you mentioned are directly derived from the core service contracts. These are:

• Monthly payments from solar leases and Power Purchase Agreements (PPAs).
• Interest and principal payments from customer solar loans, which saw a 38% increase in revenue in 2024.

The revenue from the direct sale of solar energy systems and products is explicitly non-core and is shrinking. This segment saw its revenue fall by 13% for the full year 2024 compared to 2023, which aligns with the strategic shift toward prioritizing the higher-margin lease products, often called Third-Party Ownership (TPO) products.

Looking forward, the focus on capital efficiency is meant to support the projected cash generation targets. The company has set a clear goal for the near term:

• Projected 2025 cash generation target of $350 million.

This target is supported by operational optimizations estimated to reduce annual cash costs by $70 million, so every dollar saved directly bolsters that cash generation goal. Finance: draft 13-week cash view by Friday.