Sunnova Energy International ( (NOVA) ) has provided an update.
Sunnova Energy International reported a 19% revenue increase in Q3 2024, driven by a rise in solar systems in service, despite a dip in unrestricted cash due to seasonal factors. The company maintained its cash generation targets, aiming for $100 million in 2024, and sees potential for long-term growth supported by increased investment tax credits and a growing virtual power plant network. While solar product sales fell, Sunnova’s strategic focus on core energy services and larger systems with storage bolstered cash sales revenue significantly.
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