Home Solar Firm Sunnova Energy Pushes Into Commercial Sector

9:00 AM EDT on Oct 6, 2022

Save A Lot Solar contractors install LG Electronics solar panels on a home in Hayward, California, U.S., on Tuesday, Feb. 8, 2022. California regulators are delaying a vote on a controversial proposal to slash incentives for home solar systems as they consider revamping the measure. Photographer: David Paul Morris/Bloomberg

(Bloomberg) —

Sunnova Energy International Inc., one of the largest U.S. residential solar companies, is expanding into the commercial market.

Sunnova has started a division to serve commercial, industrial, agricultural and public sector customers, the Houston-based company said Monday in a statement. The firm is expanding just weeks after US President Joe Biden signed landmark climate legislation that’s designed to accelerate the growth of renewable power.

“We see more value in going beyond just providing rooftop solar,” Michael Grasso, Sunnova’s chief marketing and growth officer, said in an interview. He declined to give a forecast or provide expectations on the new division.

“We wouldn’t be doing this if we didn’t think that we’d get the right returns and have the right growth potential for the sector,” he said.