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.
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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.