Why Sunnova’s Bet on Solar-as-a-Service Is Paying Off
Sunnova Energy International (NYSE: NOVA) is one of the leading companies financing solar systems in the US. While its competitors try to excel at many things Sunnova has decided to laser-focus on just one: providing solar and storage as a service to homeowners. And that focus is paying off.
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Scaling a solar installation business is hard and capital-intensive. It requires expertise in navigating local regulatory and labor environments, and developing sales processes that make sense locally. Selling a residential solar system in Puerto Rico is very different from selling one in Arizona. As a result, very few solar installation companies have scaled successfully nationally, leading to thousands of local solar installation companies across the US that do great business in their communities, but lack the financial expertise, scale, and access to capital to develop their own financing products.
Source Fool.com
