Sunnova
Sunnova was a Houston-based, publicly traded residential solar and battery storage provider (Energy as a Service) serving approximately 440,000 homeowners across 40+ U.S. states via leases, PPAs, and loans; it filed Chapter 11 bankruptcy in 2025 and was acquired by Solaris.
- Company typePublic
- Founded2012
- HeadquartersHouston, United States
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What Sunnova does
Sunnova Energy International Inc. was a Houston-headquartered, publicly traded (NYSE: NOVA) residential solar and energy storage provider founded in 2012, operating an Energy as a Service model across more than 40 U.S. states with an installed base of approximately 440,000 customer systems. The company's core offerings comprised rooftop solar panel installations, home battery storage, and energy management services bundled with flexible financing arrangements — solar leases, power purchase agreements (PPAs), and direct loans — designed to remove upfront cost barriers for residential homeowners.
Underlying technology included proprietary Virtual Power Plant orchestration that aggregated distributed residential batteries to participate in wholesale grid services under FERC Order 2222, as well as Project Hestia infrastructure supported by a conditional U.S. Department of Energy loan guarantee intended to expand solar and storage access in disadvantaged communities. Distribution was executed through a network of local dealer and installer partners spanning more than 20 states, supplemented by direct-to-consumer sales, with field-based door-to-door customer acquisition as the primary bottom-of-funnel channel.
Revenue was generated through three principal streams: recurring subscription revenue from solar leases and PPAs, one-time hardware sale revenue from solar loan originations, and recurring storage and energy management service fees. The capital-intensive lease/PPA model required ongoing balance-sheet financing through warehouse facilities, securitization SPVs (e.g., Sunnova Hestia, Aurora, EZ-Own issuers), green bonds, and equity raises, which ultimately exposed the company to interest rate, refinancing, and federal policy (ITC, net metering) risks. Following deteriorating financial conditions through 2024-2025, Sunnova filed for Chapter 11 bankruptcy in June 2025 with over $10.5 billion in liabilities; substantially all assets were sold to GoodFinch Management affiliates and acquired by Solaris in September 2025, with SunStrong Management assuming customer servicing. Sunnova has ceased independent operations.
Sunnova firmographics
Firmographics- Name
- Sunnova
- Legal name
- Sunnova Energy International Inc.
- Website
- https://sunnova.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Acquired
- Headcount range
- 1,001–5,000 employees
- Short description
- Sunnova was a Houston-based, publicly traded residential solar and battery storage provider (Energy as a Service) serving approximately 440,000 homeowners across 40+ U.S. states via leases, PPAs, and loans; it filed Chapter 11 bankruptcy in 2025 and was acquired by Solaris.
- Ownership category
- akta.pro rank
Sunnova industry classification
Industry- Product category
- Residential Solar Services
- NAICS
- Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ)
- akta.pro secondary industries
- Solar Roofing & Roof-Mounted PV Systems (IMADAFAO), Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)
Keywords
Where Sunnova is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Sunnova business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure
Revenue model
- Solar Leases and PPAs: Recurring revenue from residential solar leases and power purchase agreements with homeowners. Customers pay monthly for solar energy generation without upfront equipment costs.
- Solar Loan Financing: One-time hardware sales revenue from solar panel loans to homeowners who purchase systems outright or finance through third-party lenders.
- Energy Storage Services: Battery storage and energy management services bundled with solar offerings, providing additional recurring revenue streams.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Hybrid | Monthly | Flexible financing options for residential solar |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels1 record
Sunnova product offering
Product offeringCore offering
Sunnova provides residential rooftop solar panel installations paired with battery storage, financed to homeowners through solar leases, power purchase agreements (PPAs), and solar loans. It bundles these hardware offerings with energy management services including system monitoring, billing, and optimization, and aggregates customer systems into virtual power plants that participate in grid services. Its customer base of approximately 440,000 households spans more than 40 U.S. states.
Product overview
Sunnova operates as an Energy as a Service (EaaS) provider in the U.S. residential solar and energy storage market, offering a comprehensive portfolio of products and financing options to approximately 440,000 customers across over 40 U.S. states. The company's core offerings include rooftop solar panel installations and battery storage systems, supported by flexible financing arrangements (solar leases, power purchase agreements, and loans). These core products are complemented by virtual power plant capabilities that enable grid participation, and specialized programs like Project Hestia targeting disadvantaged communities. Sunnova's end-to-end service model encompasses system installation, ongoing energy management services, billing, and monitoring, providing homeowners with a complete residential clean energy solution.
Differentiator
Problem solved
Functional benefit
Products and services
- Residential Solar Systems Rooftop solar panel installations for residential homeowners, providing on-site clean energy generation to reduce electricity costs and increase energy independence. Delivered through Sunnova's network of local installation partners across more than 20 U.S. states.
- Battery Storage Home battery storage solutions paired with solar installations to store excess energy for use during outages or peak demand periods, enabling greater energy resilience and reliability for residential customers.
- Energy Management Services Ongoing energy management services including system monitoring, billing, and optimization to help homeowners maximize their solar investment, performance, and energy savings over the life of the system.
- Solar Lease A leasing arrangement where Sunnova owns the solar equipment and the homeowner pays a monthly fee to use the system, avoiding upfront installation costs while still benefiting from clean energy generation on their property.
- Power Purchase Agreement (PPA) A financing model where homeowners purchase the electricity generated by their solar system at a predetermined rate rather than paying for the equipment itself, typically resulting in lower monthly utility bills than the local utility tariff.
- Solar Loan A financing option allowing homeowners to purchase their solar system outright through a loan, enabling them to own the equipment, claim available tax credits and incentives, and build home equity.
Quantifiable outcome
- Approximately 440,000 customers served across over 40 U.S. states
- +2 more outcomes
Companies that use Sunnova
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Sunnova technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Sunnova partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- SunStrong ManagementcoreFull-service asset manager for renewables industry that assumed responsibility for servicing Sunnova's customer accounts, including operations & maintenance, billing & collections, and investor engagement. Ensures continuity for approximately 440,000 customer systems following acquisition.
- SolariscoreParent company that completed acquisition of Sunnova to secure long-term continuity of operations and solar asset management. Solaris acquired substantially all assets and operations through competitive, court-supervised sale process.
- GoodFinch Management (Sunnova Acquisition)coreAd hoc group of debtor-in-possession lenders and affiliates that acquired substantially all of Sunnova's assets and business operations through court-supervised Chapter 11 sale process. Transaction involved $25 million cash consideration and credit bid of DIP financing.
- GoodLeapminorLeading solar-market participant working with SunStrong to facilitate completion of certain in-progress solar installations for former Sunnova customers.
- OmnidianminorSeattle-based solar servicing company that purchased a portion of Sunnova's solar panel business for $7 million as part of bankruptcy proceedings. Sunnova entered into stalking horse asset purchase agreement with Omnidian.
Scale indicators8 records
Recent moves6 records
Expansion highlights4 records
Sunnova competitors and assessment
Company assessmentMarket position
Competitive moat4 records
Key risks7 records
Key highlights6 records
Customer concentration
Sunnova social profiles
Digital presenceSunnova financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sunnova leadership team
Management profileNumber of profiles
Profiles4 records
Sunnova subsidiaries and ownership
Company hierarchySubsidiaries6 records
Sunnova funding detail
Funding detailFunding overview
Funding rounds14 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sunnova M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sunnova
What does Sunnova do?
Sunnova provides residential rooftop solar panel installations paired with battery storage, financed to homeowners through solar leases, power purchase agreements (PPAs), and solar loans. It bundles these hardware offerings with energy management services including system monitoring, billing, and optimization, and aggregates customer systems into virtual power plants that participate in grid services. Its customer base of approximately 440,000 households spans more than 40 U.S. states.
Is Sunnova a public or private company?
Sunnova is a public company. It is classified as corporate owned and is currently acquired.
When was Sunnova founded?
Sunnova was founded in 2012. It employs 1,001 to 5,000 people.
Where is Sunnova based?
Sunnova is headquartered in Houston, United States, in the North America region.
How does Sunnova make money?
Three revenue lines are on record. Solar Leases and PPAs are the primary driver. The others are solar Loan Financing and energy Storage Services.
Does Sunnova have an API?
No public API is recorded for Sunnova.
What industry is Sunnova in?
Sunnova's product category is Residential Solar Services. Its primary akta.pro industry code is EUAMABAJ, Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization), with a secondary code of IMADAFAO, Solar Roofing & Roof-Mounted PV Systems. Its NAICS code is 221114 and its SIC code is 4911.