The company’s partnership with Sunetric will allow customers to lease solar+storage systems as a package, which will allow them to participate in the island state’s “self-supply” program.
With the help of Credit Suisse, the residential solar company’s lease/PPA portfolio allowed it to close one of the largest funding rounds in the asset-backed securities market.
The $255 million offering makes Sunnova the latest distributed solar provider to offer securities backed by residential solar assets.
The deal with USBCDC will enable an estimated $200 million worth of solar, and brings Sunnova to over $1.5 billion raised to date.
The EZ Own Loan program is designed to capitalize on the increasing desire of residential solar customers to own their systems without worrying about the trouble of maintaining them.
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