Sunnova Adds Fixed Utilities Discount to Solar Project Payment Plan
Sunnova Energy International will launch an energy plan that will provide new customers with a fixed percentage discount off prevailing utility prices and a 25-year market-based tariff, all to provide consumers with price confidence regardless of energy cost volatility.
“For the first time, homeowners will be able to receive a fixed discount on their local utility electricity rates and charges for 25 years,” said Michael Grasso, senior vice president of marketing and growth at Sunnova. “When customers choose this new energy plan, Sunnova will set the solar power price with a fixed discount on the local utility price, and then each year we will confirm or adjust the customer’s price to reflect any changes. This is another great option from Sunnova that offers consumers the best and most flexible set of services for their individual energy needs. »
The market-based tariff will be a new solar tariff option under Sunnova’s Easy Plan Power Purchase Agreement (PPA). Traditionally, a customer’s rate is set in the contract and often increases every year, but Sunnova’s market-based solar rate will change with the market. Sunnova will monitor utility prices (which include taxes and other charges) and proactively adjust prices for its customers on an annual basis to the discount percentage rate targeted for that year.
Although the percentage discount varies by market and utility, Sunnova customers who choose this plan will receive the same percentage discount from their local utility prices during the term of the contract. The goal is to allow customers to generate solar power from their rooftops while paying a guaranteed price below utility charges while avoiding market volatility, the company said in a press release.
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