Sunnova Brings Power to the People; Introduces Zero-Money-Down Solar Ownership Program

California Launch Planned for Q1 2015; Additional States to Follow

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Mar 18, 2015, 09:00 ET

HOUSTON, March 18, 2015 /PRNewswire/ -- Sunnova (www.sunnova.com) announced today the inception of its EZ Own program, giving homeowners the power to own their solar power system without upfront costs or maintenance expenses.

"Our new EZ Own program is a way to make solar power more accessible to homeowners who may not have previously considered the benefits of residential solar," said Jordan Frugé, Chief Marketing Officer at Sunnova. "EZ Own is a new type of solar-as-a-service agreement, which offers a no-money-down purchase of the system combined with a comprehensive service and warranty package."

With the EZ Own program, customers can go solar with zero money down and pay a fixed amount each month over the 25-year term at a kilowatt-hour (kWh) price substantially less than what they currently pay for power, giving the homeowner control over electric costs for the long term. The offering allows homeowners to retain ownership of the system, while Sunnova provides the industry's most comprehensive warranty package, which includes system maintenance, repairs and 24/7 monitoring. EZ Own can also be transferred in the event of a sale of the home, making it more flexible and convenient than competing products, such as loans. Customers can also prepay their outstanding balance, in total or partially, at any time without penalty or fees. Since the customer will continue to own the system, they may also be eligible for federal Investment Tax Credits (ITC).

"Consumers have a strong desire to take advantage of the federal Investment Tax Credit before its looming expiration. EZ Own is putting ownership within reach for more homeowners, removing the responsibility of maintenance, monitoring and repairs over time," said William J. (John) Berger, Chief Executive Officer at Sunnova. "Sunnova's goal is to find a solar solution for everyone."

The EZ Own program will be offered exclusively through Sunnova's network of local contractor partners. EZ Own joins Sunnova's current suite of Solar Service Agreements which cater to every homeowner's specific needs. Sunnova anticipates launching EZ Own in California in the first quarter of 2015, with plans for expansion to additional states and territories in the Sunnova network.

About Sunnova

Sunnova is a solar power company providing nationwide coverage with local minded service to thousands of homes across the United States. Our ongoing mission is to be the most reliable and efficient provider of low-cost solar power to homeowners. Sunnova offers the benefits of solar service through its network of local installation partners who work directly with homeowners. Sunnova maintains solar service agreements with each homeowner, providing worry-free electricity service for years to come.

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SOURCE Sunnova