CPower, Sunnova to Enter Residential Solar Portfolio in ISO-NE Forward Capacity Auction
CPower and Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential solar and storage service provider, announced Sunnova’s qualification to participate in the ISO New England Forward Capacity Auction 15 (“FCA15”). The qualification will allow Sunnova’s residential solar portfolio to participate in the capacity market in the New England power system to help meet the market’s future demand for electricity.
Sunnova’s portfolio of distributed residential solar energy systems in New England is expected to start participating in the capacity market as early as 2021, with complete portfolio participation anticipated for the FCA15 commitment year beginning June 2024.
“CPower is honored that Sunnova has chosen to partner with us in this pioneering program,” said John Horton, President, and CEO of CPower. “CPower is the largest manager of demand-side solar assets in the New England capacity market with an unmatched knowledge of the ISO New England market and holds an unrivaled record of success as a DER aggregator. We look forward to working with Sunnova and helping them advance their goals in this space.”As we continue to expand our service offerings, the aggregation and management of our solar and storage portfolio, and its participation in capacity markets and grid services, will drive further value for both Sunnova and our customers in the Sunnova network,” said William J. (John) Berger, Chief Executive Officer of Sunnova Energy International Inc. “We have one of the largest and fastest-growing residential solar customer bases in New England and we look forward to leading the energy transition towards a more distributed and renewable grid by allowing our continued investment in solar services to help meet the broader energy needs in markets, like ISO New England.”
“The recent FERC Order No. 2222, which aims to expand distributed energy resource (DER) participation across all power markets, directly aligns with our mission of powering energy independence, particularly during a time when the uncertainty surrounding the reliability of electric grids continues to grow,” said Michael Grasso, EVP and Chief Marketing Officer of Sunnova. “Our solar + storage service offerings give our customers more control, can protect them from power outages, and now can also participate in helping meet the overall energy needs of New England ratepayers.”
Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service 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 have the freedom to live life uninterrupted™.
CPower Energy Management
Vice President of Marketing and Business Development