An update from Sunnova Energy International ( (NOVA) ) is now available.
Sunnova Energy International reported its financial results for the fourth quarter and full year of 2024, highlighting significant growth in solar power generation and energy storage under management, which reached 3.0 gigawatts and 1,662 megawatt hours, respectively, by the end of the year. The company also increased its total cash by 11% to $548 million and announced operational optimizations expected to reduce annual cash costs by $70 million. Despite challenges such as lower tax equity contributions and fewer installed systems, Sunnova’s revenue from customer agreements and incentives rose by 43%, driven by an increase in the number of solar energy systems in service and higher battery attachment rates. The company also secured a $185 million asset-based loan facility to enhance its working capital.
More about Sunnova Energy International
Sunnova Energy International Inc. is a leading adaptive energy services company that focuses on solar power generation and energy storage solutions. It operates in the renewable energy industry, providing services such as solar energy systems and related products, with a market focus on increasing energy independence and sustainability.
YTD Price Performance: -58.50%
Average Trading Volume: 9,386,654
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $207.4M
See more data about NOVA stock on TipRanks’ Stock Analysis page.