Third-party owned solar, loans and solar-as-service continues to occupy an important place in the U.S. market, with the latest company to get into the business being Sunnova. The company says that the EZ Own program allows residential customers to own the PV system while Sunnova takes care of the O&M, warranty and monitoring of the system.
Sunnova says customers can prepay the balance owing on the system at any time without penalty. As the system is essentially rate paid over time, Sunnova says there are no problems in transferring system ownership in the event of a home sale.
Homeowners receive the solar Investment Tax Credit (ITC), unlike with solar leases the company claims.
"Consumers have a strong desire to take advantage of the federal Investment Tax Credit before its looming expiration. EZ Own is putting ownership within reach for more homeowners, removing the responsibility of maintenance, monitoring and repairs over time," said Sunnova. CEO William J. (John) Berger.
Sunnova says the EZ Own program will be rolled out alongside its current solar-as-service products. EZ Own will be initially introduced in California, in Q1 2015. Sunnova is active in around 20 states.
"EZ Own is a new type of solar-as-a-service agreement, which offers a no-money-down purchase of the system combined with a comprehensive service and warranty package," said Jordan Frugé, Chief Marketing Officer at Sunnova.
In November of last year Sunnova closed a US$250 million round to fund its solar-as-service products.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.