Sunnova Energy posts strong 2024 results & expands solar and storage capacity

For 2024, Sunnova Energy reported a 16.5% revenue increase to $839.92 million, reduced net loss to $447.77 million, grew PV capacity to 3.0 GW and storage to 1,662 MWh.

By Karthik Srivasthav G 05 Mar 2025 in Business Bytes

New Update

Sunnova Energy increased solar generation to 3.0 GW and energy storage to 1,662 MWh, while securing a $185 million loan facility for working capital. Image Credit/Source: SOLARbytes/Sunnova Energy

Sunnova Energy International Inc., based in the US, has reported its Q4 and FY2024 results for the period ending December 31, 2024. According to the company, total revenue was $839.92 million, reflecting a 16.5% increase from $720.65 million in 2023. The net loss has narrowed to $447.77 million, compared to $502.43 million in 2023. As per the report, Sunnova has expanded its solar power capacity to 3.0 GW and energy storage to 1,662 MWh as of December 31, 2024. Cash reserves have grown by 11%, totaling $548 million. Furthermore, Sunnova has secured a $185 million non-recourse asset-based loan facility, which is expected to provide additional working capital. The company has removed its guidance for now, but plans to revisit updates during future earnings announcements.

#Financialresults #SunnovaEnergy #2024Q4 #SolarStorageManagement

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