Sunnova Energy International Inc. (NYSE: NOVA), a supplier of solar energy services, is testing a brand-new green energy monetization strategy on as many people as possible.
With the assistance of the Maryland government (USA), Sunnova has started a project to provide cheap power with the goal of luring customers who wish to save money on growing energy prices.
Officially, the concept is intended for families whose incomes do not permit them to instantly buy and install a solar energy system that is already built. In practice, though, any household in the area with an annual income of up to $97.5 thousand can qualify for the new service, making this a very broad market.
Sunnova and Green Bank agreed on a collaboration arrangement, giving Sunnova access to the required financial resources. Households now have two alternatives for Sunnova’s less expensive solar energy.
The first entails investing in a tariff plan with a 25-year discount. The second option is a subscription, which entitles you to a discount on the utility network’s going rate for power.
With the new strategy, Sunnova will be able to draw in consumers who, for a variety of reasons, did not purchase solar panels and batteries in addition to generating a consistent stream of revenue from the subscription to fund future solar projects.
Sunnova is trying to take advantage of a situation where several things are positive, such as the US government’s desire to lessen its reliance on fossil fuels, rising fuel prices, an increase in power outages, etc.
A recent spot check on the stock’s support and resistance revealed that the publicly-traded Sunnova Energy International Inc. (NYSE: NOVA) shares are trading at a price close to -28.09% lower than its 90-day high. On the other hand, the stock is +52.93% away from its low in the 90-day period. More broadly, NOVA’s current price is -58.90% away from its 52-week high. The price is 52.93% above its 52-week low.