Sunnova Energy International reported Q3 2024 financial results, with revenue increasing 19% YoY to $235.3 million. The company maintained its cash generation guidance of $100 million for 2024, $350 million for 2025, and $400 million for 2026. Total cumulative solar power generation under management rose to 2.9 gigawatts, while megawatt hours of energy storage increased to 1,556 as of September 30, 2024.Despite a decline in unrestricted cash balance due to working capital seasonality, Sunnova remains confident in meeting its 2024 cash generation target. The company expects easing working capital needs, additional asset-level capital closings, and an increase in assets placed in service. The weighted average investment tax credit rate on origination increased from 40.7% in September to 42.2% in October 2024.Sunnova ended Q3 with $473.9 million in total cash, including $208.9 million in unrestricted cash, and $1.0 billion in available borrowing capacity. The company also had $221.9 million in undrawn committed capital under its tax equity funds. Sunnova's customer base grew to 422,700 as of September 30, 2024, up from 419,200 at the end of 2023.

Sunnova Energy International reported Q3 2024 financial results, with revenue increasing 19% YoY to $235.3 million. The company maintained its cash generation guidance of $100 million for 2024, $350 million for 2025, and $400 million for 2026. Total cumulative solar power generation under management rose to 2.9 gigawatts, while megawatt hours of energy storage increased to 1,556 as of September 30, 2024.Despite a decline in unrestricted cash balance due to working capital seasonality, Sunnova remains confident in meeting its 2024 cash generation target. The company expects easing working capital needs, additional asset-level capital closings, and an increase in assets placed in service. The weighted average investment tax credit rate on origination increased from 40.7% in September to 42.2% in October 2024.Sunnova ended Q3 with $473.9 million in total cash, including $208.9 million in unrestricted cash, and $1.0 billion in available borrowing capacity. The company also had $221.9 million in undrawn committed capital under its tax equity funds. Sunnova's customer base grew to 422,700 as of September 30, 2024, up from 419,200 at the end of 2023.