The “solarcoaster” has been in full swing lately, with controversial net metering decisions looming and the extensions of federal incentives perpetually on hold. To protect against this volatility, Sunnova Energy International is launching an energy plan with a fixed percentage discount to prevailing utility prices and a 25-year market-based rate.
The idea is to offer price confidence to consumers regardless of volatile energy costs. The market-based rate will be a new solar rate option within Sunnova’s Easy Plan Power Purchase Agreement (PPA). Unlike traditional solar plans, the market-based solar rate will move with the market. Sunnova will monitor utility prices (which include taxes and other charges), and on an annual basis proactively adjust its customers’ pricing to the targeted discount percentage rate for that year.
“For the first time, homeowners will be able to lock in a fixed discount to their local utilities’ electricity rates and charges for a full 25 years,” said Michael Grasso, EVP, Chief Marketing and Growth Officer.
While the discount percentage will vary by market and utility, Sunnova customers selecting this plan will receive the same discount percentage vs. their local utilities’ prices over the life of the contract. Customers can ensure they are paying a lower price than the utility’s and avoid volatility in the market.
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