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Sunnova Energy Reports Q2 2024 Loss Narrows to $79.7M, Revenue Rises to $219.6M Amid Tax Credit Gains

Sunnova Energy International Inc (NYSE:NOVA) has reported a net loss of USD 79.7 million (EUR 73.9m) for the second quarter of 2024, narrowing from USD 100.8 million in the same period of 2023. This improvement was largely due to investment tax credit sales that resulted in an income tax benefit. Revenue increased to USD 219.6 million from USD 166.4 million, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased from USD 28.1 million a year ago. The company added 161 MW of solar power generation and 284 MWh of energy storage under management during the period. The firm is focusing on increasing cash generation and maintaining strong margins.

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