Project Hestia: Sunnova’s Transformative Initiative for Clean Energy
Sunnova Energy International Inc. (NYSE: NOVA) reaffirms its unwavering support for Project Hestia, a groundbreaking initiative in collaboration with the U.S. Department of Energy (DOE). Despite recent media scrutiny, Sunnova remains dedicated to delivering clean, affordable, and reliable energy services while promoting community empowerment.
Financial Transparency and Commitment to System Services
Under Project Hestia, Sunnova clarifies that it has not received any funding from the government. The initiative involves a partial loan guarantee financing where the federal government assures lenders of repayment, backed by $3.0 billion for solar and solar-plus-storage loan originations. Sunnova, in a ‘first loss’ position, upholds responsible underwriting practices.
Sunnova emphasizes its commitment to system services, offering comprehensive, sustainable energy management with up to 25 years of service for solar and battery storage customers. The company’s significant investments in customer service infrastructure, including a 230% growth in its service technician team since 2020, ensures prompt and precise responses.
Ethical Business Practices and Puerto Rico Commitment
Sunnova places paramount importance on ethical business practices, conducting rigorous validation processes for all customers. Regardless of age, each customer undergoes thorough identity confirmation and agreement term understanding. Sunnova’s commitment extends even in unfortunate circumstances, facilitating seamless agreement transfers and providing support to grieving families.
In Puerto Rico, Sunnova, as the largest residential solar and battery storage service company, has demonstrated resilience during crises. Project Hestia, evaluated through a meticulous six-part process, reflects Sunnova’s decade-long commitment to Puerto Rico. The company powered over 30,000 homes during Hurricane Fiona’s aftermath, doubled its service technician team, and established a 24-hour service response time market in the region.
Source: businesswire.com
