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Sunnova

Sunnova Energy International Inc. was an American energy services company specializing in residential and solutions. Founded in 2012 and headquartered in , it offered an "Energy as a Service" (EaaS) model that provided clean, affordable, and reliable energy to homeowners through system installations, , monitoring, and related financing options such as leases, loans, and power purchase agreements. The company grew rapidly after going public in via a (SPAC) merger, expanding its customer base to 441,200 customers across all 50 U.S. states and territories with a focus on and carbon emission reduction. In its peak operations, Sunnova managed a portfolio of assets generating significant clean energy, emphasizing adaptive platforms for monitoring and optimizing home energy use. Facing financial pressures amid industry challenges, Sunnova filed voluntary petitions for Chapter 11 bankruptcy on June 8, 2025, to pursue a court-supervised sale of its assets. The process culminated in the acquisition of substantially all its assets by Solaris Assets, LLC—an affiliate formed by debtor-in-possession financing lenders and GoodFinch Management, LLC—on September 4, 2025, via a credit bid and $25 million in cash, ensuring continuity for customers. Core operations transitioned to SunStrong Management, LLC, a new entity led by solar industry veterans, which now handles servicing, maintenance, and support for existing solar and storage systems. On November 12, 2025, a U.S. bankruptcy court confirmed Sunnova's Chapter 11 reorganization plan, which became effective on November 14, 2025, marking the wind-down of its independent operations while preserving service delivery under the new structure.

History

Founding and early years

Sunnova Energy International Inc. was founded in 2012 by William J. (John) in Houston, Texas, as a residential services provider aimed at delivering affordable clean energy to homeowners. , drawing from his prior experience in energy trading, established the company from a apartment with a focus on making accessible through innovative financing models. The company was incorporated in on October 22, 2012, and commenced operations in January 2013, installing its first system by April of that year. At its inception, Sunnova's core mission centered on providing without requiring large upfront costs to customers, primarily through long-term solar service agreements such as leases and power purchase agreements (PPAs), typically spanning 25 years. These agreements allowed homeowners to pay a fixed monthly fee for , while Sunnova handled all ownership, , and responsibilities. In addition to , the company emphasized comprehensive operations and services, including real-time monitoring, repairs, replacements, and performance optimization for installed , and even offered service-only contracts for third-party installations. Sunnova began operations in before expanding to other states in its early years, partnering with local installers to extend its reach, such as collaborations in the Northeast starting in 2013. Key foundational partnerships with manufacturers, including Axitec and Lightway America in 2013, enabled the company to source high-quality panels and integrate them into its service offerings. To support this growth, Sunnova secured significant initial funding, including a record $250 million round in November 2014—the largest for a private U.S. residential service company at the time—and an additional $300 million in and financing in October 2015. These resources fueled the deployment of systems and the of services across emerging markets.

Growth and public offering

In April 2019, Sunnova was incorporated as Sunnova Energy International Inc., a corporation, to facilitate its transition toward public markets. The company completed its (IPO) in July 2019, pricing 14 million shares of common stock at $12 per share and raising $168 million in gross proceeds. The shares began trading on the under the ticker symbol on July 25, 2019. Following the IPO, Sunnova accelerated its expansion, growing its customer base from approximately 81,000 at the end of 2019 to 107,500 by the end of 2020, 195,400 by the end of 2021, and 279,400 by the end of 2022. The customer base continued to expand, reaching approximately 419,200 by the end of and 441,200 by the end of 2024. This growth was supported by operations across more than 38 states and territories, facilitated by a network of over 900 dealers and sub-dealers. The company also pursued strategic acquisitions, including the purchase of SunStreet—a Minnesota-based residential provider—in April 2021, which enhanced its service capabilities in the Midwest. Key developments during this period included the scaling of Sunnova's nationwide network through its expanding dealer ecosystem, enabling broader without direct ownership of installation teams. Additionally, the company deepened its integration of battery storage offerings, tripling the number of battery systems installed in 2020 compared to 2019 and launching solar-plus-storage lease programs in nine additional states in 2021. By 2022, partnerships such as the expanded collaboration with further embedded advanced energy storage into Sunnova's product suite, improving system resiliency for customers.

Financial decline and bankruptcy

In 2024, Sunnova faced mounting financial pressures amid a challenging residential market, exacerbated by rising interest rates that increased borrowing costs, uncertainty surrounding federal incentives due to evolving landscapes and the approaching expiration of the 30% Investment Tax Credit at the end of 2025, and intensifying competition from lower-cost providers, all contributing to strained cash flows and operational difficulties. These issues culminated in early 2025 with a series of critical events signaling severe constraints. On March 3, 2025, Sunnova issued a "" warning in its fourth-quarter 2024 financial results, disclosing substantial doubt about its ability to continue operations for the next 12 months due to insufficient cash and credit facilities to meet obligations. This was followed by a missed interest payment of approximately $23.5 million on its 11.75% senior notes due April 1, 2025, triggering a 30-day and an event of default. The company filed for Chapter 11 bankruptcy protection on June 8, 2025, in the U.S. Bankruptcy Court for the Southern District of , following a filing on June 1; two days later, on June 10, 2025, Sunnova was delisted from the and began trading over-the-counter under the ticker NOVAQ. The bankruptcy proceedings focused on a court-supervised asset sale process to maximize value for creditors. In June 2025, Sunnova secured court approval for the sale of its New Homes business assets to Homes, LLC, for approximately $16 million, providing initial liquidity during restructuring. By September 2025, the majority of Sunnova's assets—including its residential solar servicing , operations and , and solar and assets—were sold to Assets, LLC, a newly formed entity backed by GoodFinch and other investors, completed on September 4, 2025, through a credit bid of the and $25 million in cash, in a approved by the on August 1, 2025. On November 12, 2025, the U.S. Bankruptcy Court confirmed Sunnova's Chapter 11 reorganization plan, which restructured approximately $9 billion in debt through the asset sales and related agreements, effectively reducing the company's obligations while ensuring continuity for customers. This confirmation marked the cessation of Sunnova's independent operations, with customer servicing and management of legacy systems transitioning to SunStrong Management, a third-party servicer that assumed responsibility for in-service solar assets to maintain operational stability.

Business operations

Business model

Sunnova's core business model centered on a solar-as-a-service approach, delivering residential solar energy systems to customers primarily through long-term leases and power purchase agreements (PPAs). These contracts generally spanned 20 to 25 years, enabling customers to access clean energy via fixed monthly payments based on the system's electricity production, without the need to purchase or own the equipment outright. The company's was predominantly generated from recurring payments under these customer contracts, supplemented by income from loans and fees for ongoing operations and . In the PPA and arrangements, Sunnova retained of the systems and recognized as was produced and billed, while loan-related was earned over the financing period. Operations and fees stemmed from comprehensive plans that covered , repairs, and replacements for the contract duration. Sunnova's operational structure was asset-light and distributed, relying on a network of independent third-party dealers and installers to handle system deployment and initial setup. Centralized oversight was facilitated by for dealer management, , and automated billing, ensuring efficient tracking and delivery across installed systems. To enhance accessibility, Sunnova adapted its model with no-upfront-cost options, including $0 down leases and 0% APR financing, targeted at low-income households to minimize barriers to adoption. These programs bundled federal incentives, such as tax credits under the , allowing Sunnova to pass on cost savings through lower monthly payments while leveraging the credits for its owned systems. Following its 2025 , servicing and maintenance of existing systems transitioned to SunStrong Management, LLC, ensuring continuity for customers under the acquired structure.

Market presence and partnerships

Sunnova operated in 51 U.S. states and territories, with a significant presence in sun-rich regions such as , , and , where customer deployments showed recovery and growth as of 2024 amid favorable incentives and high energy demands. The company's customer base was predominantly residential, serving approximately 441,200 households as of December 2024, prior to its June 2025 filing, with a smaller commercial segment; it targeted middle-income families through flexible financing options like loans, power purchase agreements, and leases that lowered upfront costs. Sunnova formed strategic alliances with solar equipment providers, including for microinverters and GoodWe for commercial-scale inverters, to ensure reliable hardware integration across its systems. It also collaborated with financiers such as the U.S. Department of Energy for loan guarantees—though a $3 billion agreement was later downsized and canceled—and platforms like Energy to facilitate customer financing. Following its , Sunnova's residential solar servicing and operations transitioned to SunStrong Management under Assets' acquisition, ensuring continuity for existing partnerships while stabilizing . No new customer deployments occurred after the filing. Positioned as a leader in adaptive energy solutions, Sunnova addressed grid instability and rising utility costs by integrating , storage, and capabilities, with total installed capacity reaching 3.0 gigawatts by the end of to support resilient, distributed networks.

Products and services

Solar energy systems

Sunnova offered customized rooftop arrays designed for residential use, typically sized between 5 and 10 kW to align with average household energy demands, paired with inverters that convert electricity from the panels into for home use, and racking systems that securely mount the panels on rooftops. These components formed a complete system, with Sunnova sourcing high-efficiency panels from various manufacturers for reliable energy generation. The installation process was handled comprehensively by Sunnova and its certified installers, starting with a detailed site assessment to evaluate condition, , and , followed by engineering design, securing local permits and utility approvals, physical mounting and wiring of components, and culminating in grid interconnection to enable flow to and from the utility network. This end-to-end approach typically spanned several weeks to months, depending on local regulations, and included commissioning to ensure optimal operation before activation. Sunnova backed these systems with a 25-year covering equipment, workmanship, and production output, minimizing long-term maintenance costs for customers. Performance guarantees were a key element of Sunnova's offerings, committing to minimum annual energy output levels based on site-specific modeling, with compensation if production fell short due to system issues. Customers could monitor production and system health through the Sunnova , which provided data on energy generation, usage, and savings, or via integrated partner platforms like Enphase for granular panel-level insights. Systems were customized to individual homes by analyzing historical energy bills and consumption patterns to determine optimal array size, ensuring offset of a significant portion of needs while integrating with policies in eligible areas to credit excess generation against future utility bills. For enhanced functionality, these solar arrays could integrate with optional battery storage to store surplus energy.

Energy storage and complementary services

Sunnova's energy storage solutions were integrated into its Adaptive Home platform, which paired lithium-ion batteries with solar systems to provide backup power during outages and enable peak shaving to reduce electricity costs. These batteries, often sourced from partners like and FranklinWH, typically offered capacities of 9.7 to 13.6 kWh per unit for residential applications, allowing households to store excess generated during the day for use at night or during high-demand periods. This setup enhanced resilience by discharging stored during peak grid stress, supporting off-grid functionality for essential appliances like refrigerators and lights for several hours. Complementary services extended the Adaptive Home ecosystem beyond basic storage, including integrated EV charging stations developed through a partnership with . This integration allowed electric vehicle owners to charge using stored , optimizing costs by aligning charging times with low-rate periods or excess production, while providing connected insights into overall home energy flow. Load control software within the platform automatically managed energy distribution, prioritizing critical loads and shifting usage to minimize bills under time-of-use tariffs. Sunnova bundled these storage and service elements into hybrid solar-plus-storage packages, backed by a 25-year service commitment that covered , , and repairs to ensure long-term performance and reliability. The company's , accessible via the Sunnova , empowered users with of status, patterns, and predictive alerts for potential issues, facilitating participation in demand response programs that rewarded customers for grid support during high-demand events. This also enabled customized scheduling for energy optimization, such as automating discharge to avoid pricing, thereby promoting and cost savings. Through 24/7 remote , Sunnova's operations team proactively addressed system anomalies, coordinating repairs to maintain uptime and extend equipment lifespan.

Post-bankruptcy servicing

Following Sunnova's Chapter 11 bankruptcy and asset acquisition by Solaris Assets, LLC in September 2025, core operations transitioned to SunStrong Management, LLC, which handles servicing, , and support for existing solar and storage systems. As of November 2025, SunStrong provides full-service , including field operations and (O&M), billing, collections, via the existing , and fulfillment of warranties for legacy customers, ensuring continuity without new installations or sales.

Corporate governance

Board of directors

Sunnova Energy International Inc.'s board of directors, as of the lead-up to bankruptcy confirmation in November 2025, consisted of seven members, with a majority being independent directors in compliance with (NYSE) listing standards. The board was chaired by C. Park Shaper, who was appointed to this role in March 2025 following leadership transitions at the company. Other members included independent directors Anne Slaughter Andrew, Tony Horton, Jeffrey S. Stein, Jeremy D. Thigpen, and Corbin J. Robertson III, alongside Paul S. Mathews, who served as the company's and CEO until the asset sale in September 2025. These directors brought collective expertise in energy services, , , , and strategic investments, supporting the company's focus during its financial restructuring. The board oversaw key aspects of Sunnova's operations through specialized committees prior to the bankruptcy confirmation. The Audit Committee, chaired by C. Park Shaper with members Tony Horton and Jeffrey S. Stein, was responsible for monitoring financial reporting, internal controls, and compliance with legal and regulatory requirements. The Nominating, and Sustainability Committee, led by Anne Slaughter Andrew and including Jeffrey S. Stein, handled director nominations, evaluated board composition, and developed policies on (ESG) matters to align with Sunnova's sustainability goals in the sector. Additionally, the Compensation and Committee, chaired by Jeremy D. Thigpen with Tony Horton as a member, reviewed and strategies to ensure alignment with performance objectives. Sunnova's board adhered to NYSE independence criteria, requiring that a majority of directors have no material relationships with the company beyond their board service; all members except CEO Paul S. Mathews qualified as independent. This structure emphasized specialized knowledge in energy markets, financial oversight, and sustainable practices, enabling guidance during the company's challenges, including debt restructuring. Recent changes to the board in 2025 reflected efforts to bolster financial scrutiny and governance amid restructuring initiatives. In March, C. Park Shaper assumed the chairmanship, and Paul S. Mathews was added as a director. In April, independent directors Tony Horton and Jeffrey S. Stein were appointed to replace Mary Yang and Akbar Mohamed, who resigned effective April 11 and April 7, respectively; these additions formed a special committee to evaluate options and enhance oversight. Following the U.S. court's confirmation of Sunnova's Chapter 11 reorganization plan on November 12, 2025, a was appointed to distribute sale proceeds to s and conduct an orderly wind-down of the company's remaining operations. The board's role became limited to this wind-down process, as substantially all assets had been acquired by Assets, LLC in September 2025, with core operations transitioning to SunStrong Management, LLC.

Executive leadership and policies

In March 2025, Sunnova underwent significant leadership changes amid its financial efforts, with founder and former CEO William J. (John) stepping down as Chairman, President, and CEO. , who had led the company since its , transitioned to an advisory role to support the ongoing repositioning for profitability. This shift emphasized expertise in and , particularly in the wake of the company's proceedings. Paul Mathews served as President and from March 10, 2025, until the asset sale closed on September 4, 2025, succeeding Berger. Mathews, who joined Sunnova in January 2023, previously served as Executive of Service and before becoming in February 2024, where he focused on enhancing operational performance. Following the sale, Mathews joined SunStrong Management, LLC as . In 2025, the Board created the position of Chief Restructuring Officer and appointed Ryan Omohundro to the role, effective April 27. Omohundro, a Managing at Alvarez & Marsal with over 20 years in distressed company advisory, was brought on to guide Sunnova through its Chapter 11 process. Additionally, Robyn Liska was named Interim effective March 31, 2025, following the departure of Michael Williams; Liska, with extensive experience, supported financial transformation initiatives. Post-confirmation of the reorganization plan on November 12, 2025, executive roles shifted to support the wind-down under the creditor trustee. Sunnova's Guidelines, last updated on October 23, 2024, outlined key frameworks for and oversight during the company's active period. These guidelines required a of the Board to be independent directors, as defined by NYSE standards, with annual reviews by the Nominating, and Sustainability Committee to ensure disinterested status. They emphasized ethical conduct, mandating directors to exercise judgment in lawful and sustainable activities, while the oversaw the , compliance programs, and reporting of violations, including conflict-of-interest disclosures. The guidelines also highlighted (CSR), with the Nominating Committee responsible for program oversight and consideration of impacts on stakeholders such as employees, customers, communities, and the environment, including risks like and management. Complementing this, Sunnova maintained a separate CSR and Volunteer Time Off Policy to promote and employee participation in social initiatives. Executive compensation at Sunnova was structured to align with company performance, featuring base salaries, annual bonuses, and long-term awards tied to metrics such as Adjusted EBITDA, revenue growth, and operational targets. For instance, CEO Mathews received a base salary of $700,000, with a target annual bonus of 100% of base pay based on achievement of predefined financial and strategic goals. Despite financial challenges in 2025, the company awarded $2.125 million in performance-based bonuses to its top four executives in March, reflecting partial attainment of 2024 metrics amid the . These s aimed to retain key talent during the and post-bankruptcy transition phases.

Post-bankruptcy governance transition

Following the acquisition of substantially all assets by Solaris Assets, LLC on September 4, 2025, core operations transitioned to , a full-service asset manager led by CEO Brendon Merkley and an experienced team of solar industry veterans. SunStrong now handles servicing, maintenance, and support for the acquired and storage systems, ensuring continuity for customers. For Sunnova's remaining entity, the confirmed Chapter 11 plan established oversight by a to manage the wind-down and creditor distributions as of November 2025.

Financial performance

Revenue and operational metrics

Sunnova's revenue for the full year 2024 reached $840 million, marking a 17% year-over-year increase from $721 million in 2023. This growth was primarily driven by $298 million from system and product sales, alongside $542 million generated from customer agreements and incentives, reflecting the company's emphasis on long-term service contracts. Operationally, Sunnova maintained a weighted average contract life exceeding 20 years, supporting stable recurring streams from its primarily 25-year agreements. Customer additions peaked at approximately 100,000 annually in the years leading up to 2025, with 2023 seeing around 140,000 new to reach a total of 419,000 by year-end; however, 2024 additions slowed to about 22,000, bringing the total to 441,000 . By the end of 2024, the company's installed capacity surpassed 1 , actually reaching 3.0 , underscoring its scale in residential deployments. Profitability remained challenged, with income rising 29% to $150 million in , bolstered by higher yields on financed systems. Net loss per share attributable to stockholders for the full year was -$2.96, indicative of ongoing net losses amid elevated operating expenses totaling $1,080 million for the year. These figures highlight persistent pressures despite gains. The structure was dominated by high servicing obligations and expenses, with expenses surging $119 million year-over-year to fund expansions and operations. Such costs, combined with and efforts, contributed significantly to annual losses exceeding $300 million before the 2025 filing served as a .

Debt restructuring and post-bankruptcy status

Prior to its Chapter 11 filing on June 8, 2025, Inc. carried approximately $10.7 billion in total debt (with estimated liabilities in the $10-50 billion range), including $2.3 billion in senior notes issued by its subsidiaries. Among these obligations was an uncured missed interest payment of approximately $23.5 million on $400 million of 11.75% senior notes due 2028, originally due on April 1, 2025, which triggered a after the 30-day expired. The restructuring process involved a court-supervised sale of substantially all of Sunnova's assets, culminating in the acquisition of its core residential solar servicing, operations, and management platform by Solaris Assets on September 4, 2025. Under the terms of the confirmed plan, senior noteholders and other unsecured creditors holding over $2.3 billion in claims were projected to recover approximately 2% of their principal, with asset sale proceeds funding the reorganization and distributions. This arrangement significantly reduced the company's overall debt burden, enabling a streamlined emergence from bankruptcy. On November 12, 2025, a U.S. confirmed Sunnova's joint plan of reorganization, with the effective date occurring on November 14, 2025, allowing the company to emerge from Chapter 11 protection, with core operations transitioned to SunStrong Management under Solaris's ownership. The company's shares continue to trade over-the-counter under the NOVAQ, reflecting its reorganized status. Post-emergence, Sunnova has shifted its strategic emphasis to servicing existing customer contracts and maintaining operational continuity for its installed solar assets. Looking ahead, the restructured entity prioritizes stabilized operations under new ownership, focusing on adaptive energy services to support long-term customer value and solar asset management without pursuing aggressive expansion. This approach aims to leverage the acquired platform for efficient contract fulfillment amid a challenging residential solar market.

Controversies and criticism

Legal and regulatory issues

In 2023, Sunnova Energy International Inc. faced significant scrutiny from lawmakers over a $3 billion partial awarded by the U.S. of (DOE) for its , which aimed to expand and access for low-income households. and House and Commerce Committee Chair sent a letter to DOE Programs Office Director questioning the approval process, citing allegations of political favoritism due to Shah's prior involvement with Sunnova through the Cleantech Leaders Roundtable and potential conflicts of interest. These inquiries highlighted concerns that the , the largest ever from the DOE, may have overlooked Sunnova's reported history of aggressive sales tactics, drawing comparisons to the scandal. However, the DOE terminated the remaining portion of the guarantee in May 2025 as part of Sunnova's financial restructuring efforts leading to . Sunnova has been the subject of multiple federal lawsuits alleging deceptive sales practices, particularly targeting vulnerable customers such as elderly individuals with . A securities filed in the U.S. District Court for the Southern District of accused the company of making false statements about its business operations and predatory tactics, including pressuring patients into long-term leases exceeding $30,000, as reported in consumer complaints and investigations. For instance, families claimed salespeople misled cognitively impaired seniors, such as an 86-year-old man with who signed a 25-year contract for panels on a shortly before his death, leaving relatives with substantial debts. These suits, including one by shareholders alleging concealment of such practices that jeopardized the loan, remain ongoing and have contributed to Sunnova's financial pressures. Regulatory investigations into Sunnova's compliance with solar incentives and sales practices intensified following congressional probes. In December 2023, House Republicans demanded DOE documents on Sunnova's customer complaints, unethical sales tactics, and adherence to standards tied to the , referencing a specific case of an elderly man in being coerced into a $60,000 contract. The issued alerts citing patterns of deceptive practices, though no formal enforcement actions from federal agencies like the or CFPB have been publicly confirmed as of late 2025. Amid these issues, Sunnova's June 2025 Chapter 11 filing triggered disputes over asset sales and liability releases. A U.S. court in approved a $35 million allowing the transfer of thousands of systems to a and lender, resolving one key conflict, while confirming the overall plan on November 12, 2025, despite objections from the U.S. Trustee regarding broad releases that could shield the company from future suits—over 42,000 forms were filed by potential claimants. These proceedings, influenced by prior legal exposures, facilitated the sale of most assets to Assets and the wind-down of operations, with a to distribute proceeds.

Customer and operational complaints

Sunnova has faced numerous customer complaints regarding its sales practices, particularly allegations of misleading promises about energy savings and the use of high-pressure tactics. Reports indicate that salespeople often exaggerated the financial benefits of systems, leading customers to expect significant reductions in bills that did not materialize. These tactics have been criticized for targeting vulnerable groups, including elderly homeowners and those in disadvantaged communities, with examples of pressuring individuals with health issues, such as patients, into long-term leases valued at tens of thousands of dollars. Such practices prompted over 50 complaints to the Attorney General's office in recent years and drew scrutiny from the U.S. House Energy and Commerce Committee, which expressed outrage over aggressive sales methods by Sunnova and its contractors. These grievances have escalated to filings in multiple states. Installation and quality issues have compounded customer dissatisfaction, with frequent reports of substandard workmanship, such as roof leaks caused by improper panel mounting, and significant delays in deployment that left systems incomplete for months or even years. Maintenance failures, including unresponsive service for malfunctioning equipment, have been widespread, often resulting in unresolved problems that affect system performance. In 2025, dealer payment delays exacerbated these disruptions, as installers awaited reimbursements from Sunnova amid its financial strain, leading to halted services, abandoned projects, and mounting debts for local contractors unable to fulfill warranty obligations. Following Sunnova's Chapter 11 bankruptcy filing in June 2025, operational fallout included confusion during the transition of customer accounts to SunStrong Management, which assumed responsibility for servicing legacy systems after the asset sale approval in August. Customers reported billing uncertainties and fears over continuity, as the raised questions about ongoing support for existing installations despite assurances of no immediate changes to payment terms. In response to these complaints, Sunnova issued public apologies for service delays and emphasized its commitment to ethical practices through a zero-tolerance policy and a , including swift investigations into reported misconduct. The company invested in enhanced infrastructure, such as a for issue resolution, and implemented pre-bankruptcy policy adjustments to improve complaint handling, though specific warranty extensions were not detailed in public statements.

Awards and recognition

Industry accolades

Sunnova has earned recognition for its strong position and growth in the residential sector. In 2020, the company was ranked among the top seven firms dominating the $17 billion U.S. industry, highlighting its leadership in residential services and financing. The company's 2019 raised approximately $170 million. This milestone underscored Sunnova's rapid expansion, including the addition of over 18,000 customers that year, solidifying its status as a major player in customer acquisition within the residential market. Prior to its financial challenges, Sunnova garnered honors for , such as the 2021 Top Project of the Year award from Environment + Energy Leader for its collaboration with CPower to integrate 85 MW of residential capacity into the ISO's Forward Capacity Auction, enhancing grid reliability.

Sustainability and innovation honors

Sunnova has received several recognitions for its (ESG) performance, highlighting its commitment to practices. In 2023, the company maintained a low-risk ESG rating of 16.9 from Morningstar , reflecting strong management of material ESG risks in the sector. It also sustained an AA rating from , indicating superior ESG risk management relative to industry peers, and retained Prime status from ISS ESG, recognizing proactive and integration. These ratings underscore Sunnova's efforts to reduce carbon emissions through deployments, with systems offsetting approximately 54 million metric tons of CO2 equivalent over their lifetimes as of December 2023. In sustainability honors, was named a 2023 Eco-Leader by Green Builder Media, selected for its substantive commitments, including advancements in clean energy access and waste reduction initiatives like over 228,000 pounds of panels in 2023. This recognition emphasizes the company's role in promoting while minimizing environmental impact through scalable services. For innovation, Sunnova earned the 2022 Residential Project of the Year award from Solar Builder magazine for its solar-plus-storage micro-utility deployment on the , integrating resilient energy solutions to serve remote communities with reliable power during outages. Regarding community impact, Sunnova's Project Hestia received the 2023 Structured Finance Deal of the Year award from International Finance Review (IFR) for its innovative financing backed by a U.S. Department of Energy partial , enabling expanded access for low-income households and expected to generate over $5 billion in energy originations. This initiative supports equitable adoption, aligning with broader goals of and resilience in underserved areas. However, the DOE was terminated in May 2025 amid Sunnova's bankruptcy proceedings.

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