Sunnova Energy International has reported a Q3, 2023 earnings loss of $0.53 per share, higher than the consensus estimate of a loss of$0.34 per share. Despite this, the company posted revenues of $198.4 million, exceeding estimates. Despite these losses, Sunnova’s stock rose 15% following the earnings call. The company has issued a strong forecast for 2024, with customer additions expected to reach between 185,000 and 195,000, and EBITDA expected to land between $350 million and $450 million for 2024. Despite the challenges, Sunova’s shares have fallen over 50% since the start of the year, despite a period of high interest rates and regulatory changes. The firm has also secured a $3 billion partial loan guarantee from the Department of Energy Loans Programs Office for its Project Hestia project, which aims to increase access to solar and virtual power plant services in low-income communities.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
