Sunnova Energy International Inc. (NYSE: NOVA), one of the leading U.S. residential solar and battery storage service providers, today announced a new strategic partnership with PetersenDean Roofing & Solar, one of the largest full-service, privately-held roofing and solar companies in the United States.
Working together, Sunnova and PetersenDean will deliver Sunnova’s solar and storage services to homebuilders across California.
California continues to lead the nation in residential solar and is expected to grow significantly because of the California Energy Commission solar mandates. This far-reaching energy policy was adopted last year and requires solar photovoltaic (PV) electric systems to be installed on virtually every new residential dwelling built in the state. It will apply to all houses, condos and apartment buildings up to three stories that secure building permits after January 1, 2020.
“This innovative partnership will enable homebuilders to affordably and easily meet the new California solar requirements with an integrated solution,” said John Berger, Chief Executive Officer of Sunnova. “We chose PetersenDean because we want a strategic partner with the labor force and experience in both roofing and solar to execute the volume and demand we expect from the mandates. PetersenDean will be a valuable partner for Sunnova, creating a seamless customer experience, from sales to solar installation.”
“We are a roofing and solar contractor with a large labor force so we can provide turnkey solutions for builders, who in turn can provide more options to their buyers. Through our partnership with Sunnova, we can now offer home builders expanded product offerings that include leases or power purchase agreements,” said Mark Vogel, President and Chief Operating Officer at PetersenDean Roofing & Solar, builder division. “This will give the home builders we work with the flexibility they need to meet their buyers’ needs, which will be extremely important, especially in California which is getting ready for the mandates.”
ABOUT SUNNOVA Sunnova is a leading residential solar and energy storage service provider, serving customers in more than 20 U.S. states and territories. Our goal is to be the leading provider of clean, affordable and reliable energy for consumers, and we operate with a simple mission: to power energy independence. For more information, visit www.sunnova.com, follow us on Twitter @Sunnova_Solar and connect with us on Facebook.
ABOUT PETERSENDEAN ROOFING & SOLAR Founded in 1984 by Jim Petersen, PetersenDean specializes in new residential and commercial construction, working with some of the nation’s largest builders and developers. With more than a million roofs under its belt, the Fremont, CA-based company employs 3,000 workers and operates in seven states: Arizona, California, Florida, Hawaii, Nevada, Oklahoma and Texas. Please visit http://www.petersendean.com/ for more details.
FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates,” “going to,” "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding the growth of residential solar, the success, timing and scope of the partnership, and the ability of home builders to meet the California regulatory requirements. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, our competition, fluctuations in the solar and home-building markets, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the Securities and Exchange Commission, including Sunnova’s prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on July 26, 2019 and in our Quarterly Report on Form 10-Q that will be filed on a later date. The forward-looking statements in this release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
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