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Sources Say Sunnova Is Heading To Lucrative Florida Market

By Frank Andorka, Senior Correspondent

What Happened: Following a Florida Public Service Commission (FPSC) decision that third-party solar installations won’t be considered regulated utilities, residential solar giant Sunnova is set to get into the game, sources tell SolarWakeup.

  • The company has been quietly setting up its partner network in the state over the past year waiting for the right time to enter this lucrative market.
  • When they move into the state, Sunnova will be offering “solar finance agreements” (known everywhere else in the country as loans).
    • Sunnova

    You don’t have to be a Kennedy Space Center rocket scientist to know that it’s time to move into the Florida solar market – you just have to be smart. Sunnova, clearly, is smart.

    SolarWakeup’s View:  It feels like I’ve been writing about Florida’s potential as a solar state for the entire seven years I’ve been in the solar industry. And as many times as I’ve written the story, that’s equally as often as I’ve been disappointed when the lucrative market I’ve predicted has failed to materialize.

    It appears, however, that my prediction of a lucrative Florida solar market might finally be coming true (fingers crossed – I hate being wrong).

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    Sources close to residential solar giant Sunnova, speaking on condition of anonymity to discuss the unannounced plans freely, have told SolarWakeup that an announcement of the company’s plans to enter the Florida market are imminent. No definitive timetable has been set for the announcement of the plans, but it could come as early as this week, sources say.

    Honestly, I wish they’d hurry it up a bit – Floridians I talk to are desperate to install solar systems on their roofs but haven’t had the ability to do so for lack of solar providers.

    It’s clear that Sunnova has known for a long time about the same decades-old report I also reported on last week, which indicates the state’s potential solar production could reach nearly 56 GWh annually by 2020 and has been planning accordingly.

    I’d want to be part of that market, too – and I’m glad to see Sunnova is getting ready to take the plunge.

    This story was updated at 12:13 pm ET on 5/1/2018 to clarify that Sunnova will be offering loans to solar customers, not leases.

    More:

    Could Decade-Old Florida Report Finally Be Relevant? Let’s Hope So

    Florida Public Service Commission OKs Sunrun’s Petition – So It’s Full Speed Ahead