Solar

Sunnova wants you to get an EV and charge it with your home solar setup

Sunnova wants you to get an EV and charge it with your home solar setup
Two electric vehicles parked outside a home featuring a Sunnova solar setup (courtesy: Sunnova)

Tenet Energy, a financial technology platform, and Sunnova Energy, known for residential and commercial solar and virtual power plants, are collaborating to accelerate the adoption of solar energy and electric vehicles.

The companies are rolling out a series of exclusive promotions encouraging Sunnova customers to purchase an electric vehicle with Tenet’s financing options and Tenet customers to adopt Sunnova’s solar energy systems. These promotions include special discounts ($250 bucks back after your first payment sounds better than a kick in the head) and flexible financing terms designed to make the transition more attractive and affordable.

By using solar panels to charge electric vehicles, homeowners can achieve significant cost savings that amount to potentially hundreds of dollars annually on their electric bills. This integration results in a lower overall total cost of ownership, offers a smart home system that optimizes energy use, and provides substantial economic benefits via lower utility bills and fuel costs.

“Our mission is to help Americans electrify their lives, starting with their vehicle,” stated Alex Liegl, Tenet’s CEO. “EVs are an excellent way to begin your sustainability journey and save money, but they are also part of a broader energy system that works synergistically with other clean energy home assets like solar. Home electrification starts with EVs, creating a foundation for integrating additional sustainable technologies.”

“We are pleased to collaborate with Tenet to offer customers an easier pathway to electric vehicle ownership,” added Michael Grasso, EVP and chief resource officer at Sunnova. “Our suite of energy solutions – which includes EV chargers – addresses the concerns of higher electricity costs associated with fueling EVs while enabling buyers the convenience of charging from home as they electrify their transportation. Alongside Tenet’s EV financing solutions, we are simplifying the EV buying and owning experience to accelerate adoption.”

Sunnova is heavily involved in the virtual power plant space. VPPs are aggregated, grid-connected DERs such as photovoltaics (PV), battery storage systems, electric vehicles, and flexible end uses combined with communications and control software. Coupling aggregated DERs with smart software can create a virtual power plant to deliver power and support grid reliability and decarbonization.

Last September, the Department of Energy’s Loan Programs Office and Sunnova announced the close of a first-of-its-kind $3 billion partial loan guarantee for virtual power plants. The terms of the loan guarantee 90% of up to $3.3 billion of term loans, which could support 75,000-115,000 homeowners and result in the deployment of 568 MW of solar and storage capacity.

Sunnova’s home solar systems helped thousands of Texas customers sustain the aftermath of Hurricane Beryl, which knocked out power in the Houston area for millions. From July 8-15, while the local utility grids were knocked out and unable to deliver power to Texans, the homes of nearly 3,000 Sunnova solar + storage customers generated 485,249 kWh of energy.