Sunnova and David Energy Disrupt Traditional Power Generation Model with Sunnova’s New Adaptive Retail Energy Plan, Empowering Texas Customers to Access Lowest Retail Rates
HOUSTON, March 08, 2023--(BUSINESS WIRE)--Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, has teamed up with David Energy, a software-driven retail energy provider in Texas, to bring its Adaptive Retail energy plan to the Texas marketplace.
The Adaptive Retail energy plan leverages Sunnova SunSafe® solar and battery storage systems to create a virtual power plant (VPP) that optimizes the interactions of the fleet with the electric grid. By aggregating the battery storage and generation capacity of its customers, Sunnova can provide a more reliable and flexible source of energy that can respond to changes in demand and market conditions.
Together, Sunnova and David Energy will leverage their distributed energy resource management software to optimize their customers' distributed energy resources (DERs) and create a VPP in Texas. Sunnova’s fleet of batteries will react in real time to David Energy’s platform, which dispatches the fleet based on the price of energy in the wholesale market. In addition, David Energy’s platform will allow these DERs to integrate the value of demand response and bid their capacity into Electric Reliability Council of Texas’s (ERCOT) ancillary markets for the creation of the lowest energy rates for Sunnova’s customers.
"Our Adaptive Retail plan represents a significant departure from the traditional centralized power generation model, putting more control and flexibility in the hands of our customers," said William J. (John) Berger, CEO of Sunnova Energy International Inc. "By leveraging our customers' Sunnova SunSafe® systems through a VPP, we can create a more reliable and cost-effective source of energy for the electric grid, while also providing our customers with the best possible prices."
"By combining a retail energy plan with software that connects to a broad range of devices many customers already have, David Energy’s platform can turn Texans’ homes into power plants. The potential to bring hundreds of megawatts of much needed flexible capacity to ERCOT via these VPPs in the near future is very real," said James McGinniss, CEO and founder of David Energy. "We are thrilled to collaborate with Sunnova on their Adaptive Retail plan and to help prove that DERs are quickly becoming a force to be reckoned with in ERCOT and beyond."
"The introduction of our Adaptive Retail rate in Texas marks a major milestone in Sunnova’s efforts to integrate the Sunnova Adaptive Home™ into broader power markets," said Michael Grasso, EVP, Chief Revenue Officer at Sunnova. "The technology embedded into each Sunnova system allows our Texas customers to access the lowest retail rates, earn VPP credits annually, and reduce their overall energy costs."
By optimizing battery interactions with the electric grid, Sunnova and David Energy are reducing monthly customer electricity costs and promoting a cleaner grid. Through this collaboration, Sunnova and David Energy are paving the way for a cleaner and more resilient energy future in Texas. The collaboration of DERs will provide grid services that will enhance grid stability and improve the reliability of the ERCOT service area.
Sunnova Energy International Inc. (NYSE: NOVA) is a leading U.S. Energy as a Service (EaaS) provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable, and reliable energy with a simple mission: to power energy independence so that homeowners and businesses have the freedom to live life uninterrupted®. For more information, please visit sunnova.com.
About David Energy
David Energy is a software-enabled retail energy provider on a mission to empower customers to build a cheaper, cleaner, more resilient electricity grid. We offer customers smarter energy rates, greater transparency, and more control over how and when they use energy by connecting their DERs to our platform. Learn more at www.davidenergy.com.
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Sunnova: Kelsey Hultberg
David Energy: Sophia Cowles
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