Company Quick10K Filing
Sunnova Energy
Price11.65 EPS-1
Shares61 P/E-8
MCap709 P/FCF-38
Net Debt1,067 EBIT-84
TEV1,776 TEV/EBIT-21
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-09-30 Filed 2020-10-29
10-Q 2020-06-30 Filed 2020-07-30
S-1 2020-06-29 Public Filing
10-Q 2020-03-31 Filed 2020-05-15
10-K 2019-12-31 Filed 2020-02-25
10-Q 2019-09-30 Filed 2019-10-31
10-Q 2019-06-30 Filed 2019-08-19
S-1 2019-06-27 Public Filing
10-K 2018-12-31 Filed 2019-03-19
10-Q 2018-09-30 Filed 2018-11-07
10-Q 2018-06-30 Filed 2018-08-09
10-Q 2018-03-31 Filed 2018-05-04
10-K 2017-12-31 Filed 2018-03-23
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-08
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-20
10-Q 2016-09-30 Filed 2016-11-03
10-Q 2016-06-30 Filed 2016-08-08
10-Q 2016-03-31 Filed 2016-05-12
10-K 2015-12-31 Filed 2016-03-22
10-Q 2015-09-30 Filed 2015-10-30
10-Q 2015-06-30 Filed 2015-08-11
10-Q 2015-03-31 Filed 2015-05-08
10-K 2014-12-31 Filed 2015-02-23
10-Q 2014-09-30 Filed 2014-11-12
10-Q 2014-06-30 Filed 2014-07-29
10-Q 2014-03-31 Filed 2014-05-08
10-K 2013-12-31 Filed 2014-03-28
10-Q 2013-09-30 Filed 2013-11-12
10-Q 2013-06-30 Filed 2013-08-09
10-Q 2013-03-31 Filed 2013-05-03
10-K 2012-12-31 Filed 2013-03-27
10-Q 2012-09-30 Filed 2012-11-06
10-Q 2012-08-13 Filed 2012-08-13
10-Q 2012-03-31 Filed 2012-05-11
10-K 2011-12-31 Filed 2012-03-29
10-Q 2011-09-30 Filed 2011-11-14
10-Q 2011-06-30 Filed 2011-08-03
10-Q 2011-03-31 Filed 2011-05-02
10-K 2010-12-31 Filed 2011-03-22
10-Q 2010-09-30 Filed 2010-11-10
10-Q 2010-06-30 Filed 2010-08-13
10-Q 2010-03-31 Filed 2010-05-17
10-K 2009-12-31 Filed 2010-03-24
8-K 2020-11-30 Enter Agreement, Leave Agreement, Off-BS Arrangement, Exhibits
8-K 2020-11-30 Enter Agreement, Exhibits
8-K 2020-11-20 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2020-10-30 Enter Agreement
8-K 2020-10-28 Earnings, Regulation FD, Exhibits
8-K 2020-10-27 Officers, Exhibits
8-K 2020-10-01 Enter Agreement, Off-BS Arrangement
8-K 2020-09-24 Enter Agreement
8-K 2020-09-01 Officers
8-K 2020-08-13 Enter Agreement, Other Events, Exhibits
8-K 2020-07-29 Earnings, Regulation FD, Exhibits
8-K 2020-07-01 Enter Agreement, Other Events, Exhibits
8-K 2020-06-29 Enter Agreement
8-K 2020-06-22
8-K 2020-06-17
8-K 2020-06-12
8-K 2020-05-20
8-K 2020-05-14
8-K 2020-04-02
8-K 2020-03-03
8-K 2020-02-24
8-K 2020-02-14
8-K 2020-02-11
8-K 2020-02-04
8-K 2020-01-23
8-K 2019-12-05
8-K 2019-10-31
8-K 2019-10-16
8-K 2019-10-03
8-K 2019-09-13
8-K 2019-09-12
8-K 2019-08-30
8-K 2019-08-19
8-K 2019-07-24
8-K 2018-01-23

NOVA 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements.
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
Item 4. Controls and Procedures.
Part II - Other Information
Item 1. Legal Proceedings.
Item 1A. Risk Factors.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 3. Defaults Upon Senior Securities.
Item 4. Mine Safety Disclosures.
Item 5. Other Information.
Item 6. Exhibits.
EX-10.1 exhibit101-amendmentno.htm
EX-10.2 exhibit102-amendmentno.htm
EX-10.3 exhibit103-arguarantyt.htm
EX-10.4 exhibit104-prcreditagr.htm
EX-10.5 exhibit105-limitedperf.htm
EX-31.1 exhibit311-q32020.htm
EX-31.2 exhibit312-q32020.htm
EX-32.1 exhibit321-q32020.htm
EX-32.2 exhibit322-q32020.htm

Sunnova Energy Earnings 2020-09-30

Balance SheetIncome StatementCash Flow
2.21.81.30.90.40.02018201820192020
Assets, Equity
0.10.10.0-0.0-0.1-0.12018201820192020
Rev, G Profit, Net Income
0.30.20.10.0-0.1-0.22018201820192020
Ops, Inv, Fin

a12344345-20200930
000177269512/312020Q3falseus-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201613Member0.074074100017726952020-01-012020-09-30xbrli:shares00017726952020-10-26iso4217:USD00017726952020-09-3000017726952019-12-31iso4217:USDxbrli:shares0001772695us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-09-300001772695us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2019-12-3100017726952020-07-012020-09-3000017726952019-07-012019-09-3000017726952019-01-012019-09-300001772695us-gaap:SeriesAPreferredStockMember2020-07-012020-09-300001772695us-gaap:SeriesAPreferredStockMember2019-07-012019-09-300001772695us-gaap:SeriesAPreferredStockMember2020-01-012020-09-300001772695us-gaap:SeriesAPreferredStockMember2019-01-012019-09-300001772695us-gaap:SeriesCPreferredStockMember2020-07-012020-09-300001772695us-gaap:SeriesCPreferredStockMember2019-07-012019-09-300001772695us-gaap:SeriesCPreferredStockMember2020-01-012020-09-300001772695us-gaap:SeriesCPreferredStockMember2019-01-012019-09-3000017726952018-12-3100017726952019-09-300001772695us-gaap:PreferredStockMembera12344345:SeriesAandSeriesCPreferredStockMember2018-12-310001772695us-gaap:CommonStockMembera12344345:CommonClassAAndBStockMember2018-12-310001772695us-gaap:CommonStockMember2018-12-310001772695a12344345:AdditionalPaidinCapitalPreferredStockMember2018-12-310001772695a12344345:AdditionalPaidinCapitalCommonStockMember2018-12-310001772695us-gaap:RetainedEarningsMember2018-12-310001772695us-gaap:ParentMember2018-12-310001772695us-gaap:NoncontrollingInterestMember2018-12-3100017726952019-01-012019-03-310001772695us-gaap:RetainedEarningsMember2019-01-012019-03-310001772695us-gaap:ParentMember2019-01-012019-03-310001772695us-gaap:CommonStockMembera12344345:CommonClassAAndBStockMember2019-01-012019-03-310001772695a12344345:AdditionalPaidinCapitalCommonStockMember2019-01-012019-03-310001772695us-gaap:PreferredStockMembera12344345:SeriesAandSeriesCPreferredStockMember2019-01-012019-03-310001772695a12344345:AdditionalPaidinCapitalPreferredStockMember2019-01-012019-03-3100017726952019-03-310001772695us-gaap:PreferredStockMembera12344345:SeriesAandSeriesCPreferredStockMember2019-03-310001772695us-gaap:CommonStockMembera12344345:CommonClassAAndBStockMember2019-03-310001772695us-gaap:CommonStockMember2019-03-310001772695a12344345:AdditionalPaidinCapitalPreferredStockMember2019-03-310001772695a12344345:AdditionalPaidinCapitalCommonStockMember2019-03-310001772695us-gaap:RetainedEarningsMember2019-03-310001772695us-gaap:ParentMember2019-03-310001772695us-gaap:NoncontrollingInterestMember2019-03-3100017726952019-04-012019-06-300001772695us-gaap:RetainedEarningsMember2019-04-012019-06-300001772695us-gaap:ParentMember2019-04-012019-06-300001772695a12344345:AdditionalPaidinCapitalCommonStockMember2019-04-012019-06-300001772695a12344345:AdditionalPaidinCapitalPreferredStockMember2019-04-012019-06-3000017726952019-06-300001772695us-gaap:PreferredStockMembera12344345:SeriesAandSeriesCPreferredStockMember2019-06-300001772695us-gaap:CommonStockMembera12344345:CommonClassAAndBStockMember2019-06-300001772695us-gaap:CommonStockMember2019-06-300001772695a12344345:AdditionalPaidinCapitalPreferredStockMember2019-06-300001772695a12344345:AdditionalPaidinCapitalCommonStockMember2019-06-300001772695us-gaap:RetainedEarningsMember2019-06-300001772695us-gaap:ParentMember2019-06-300001772695us-gaap:NoncontrollingInterestMember2019-06-300001772695us-gaap:RetainedEarningsMember2019-07-012019-09-300001772695us-gaap:ParentMember2019-07-012019-09-300001772695us-gaap:NoncontrollingInterestMember2019-07-012019-09-300001772695us-gaap:CommonStockMember2019-07-012019-09-300001772695a12344345:AdditionalPaidinCapitalCommonStockMember2019-07-012019-09-300001772695us-gaap:PreferredStockMembera12344345:SeriesAandSeriesCPreferredStockMember2019-07-012019-09-300001772695a12344345:AdditionalPaidinCapitalPreferredStockMember2019-07-012019-09-300001772695us-gaap:CommonStockMembera12344345:CommonClassAAndBStockMember2019-07-012019-09-300001772695us-gaap:PreferredStockMembera12344345:SeriesAandSeriesCPreferredStockMember2019-09-300001772695us-gaap:CommonStockMembera12344345:CommonClassAAndBStockMember2019-09-300001772695us-gaap:CommonStockMember2019-09-300001772695a12344345:AdditionalPaidinCapitalPreferredStockMember2019-09-300001772695a12344345:AdditionalPaidinCapitalCommonStockMember2019-09-300001772695us-gaap:RetainedEarningsMember2019-09-300001772695us-gaap:ParentMember2019-09-300001772695us-gaap:NoncontrollingInterestMember2019-09-300001772695us-gaap:CommonStockMember2019-12-310001772695a12344345:AdditionalPaidinCapitalCommonStockMember2019-12-310001772695us-gaap:RetainedEarningsMember2019-12-310001772695us-gaap:ParentMember2019-12-310001772695us-gaap:NoncontrollingInterestMember2019-12-310001772695srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2019-12-310001772695srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ParentMember2019-12-310001772695srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-3100017726952020-01-012020-03-310001772695us-gaap:RetainedEarningsMember2020-01-012020-03-310001772695us-gaap:ParentMember2020-01-012020-03-310001772695us-gaap:NoncontrollingInterestMember2020-01-012020-03-310001772695us-gaap:CommonStockMember2020-01-012020-03-310001772695a12344345:AdditionalPaidinCapitalCommonStockMember2020-01-012020-03-3100017726952020-03-310001772695us-gaap:CommonStockMember2020-03-310001772695a12344345:AdditionalPaidinCapitalCommonStockMember2020-03-310001772695us-gaap:RetainedEarningsMember2020-03-310001772695us-gaap:ParentMember2020-03-310001772695us-gaap:NoncontrollingInterestMember2020-03-3100017726952020-04-012020-06-300001772695us-gaap:RetainedEarningsMember2020-04-012020-06-300001772695us-gaap:ParentMember2020-04-012020-06-300001772695us-gaap:NoncontrollingInterestMember2020-04-012020-06-300001772695us-gaap:CommonStockMember2020-04-012020-06-300001772695a12344345:AdditionalPaidinCapitalCommonStockMember2020-04-012020-06-3000017726952020-06-300001772695us-gaap:CommonStockMember2020-06-300001772695a12344345:AdditionalPaidinCapitalCommonStockMember2020-06-300001772695us-gaap:RetainedEarningsMember2020-06-300001772695us-gaap:ParentMember2020-06-300001772695us-gaap:NoncontrollingInterestMember2020-06-300001772695us-gaap:RetainedEarningsMember2020-07-012020-09-300001772695us-gaap:ParentMember2020-07-012020-09-300001772695us-gaap:NoncontrollingInterestMember2020-07-012020-09-300001772695us-gaap:CommonStockMember2020-07-012020-09-300001772695a12344345:AdditionalPaidinCapitalCommonStockMember2020-07-012020-09-300001772695us-gaap:CommonStockMember2020-09-300001772695a12344345:AdditionalPaidinCapitalCommonStockMember2020-09-300001772695us-gaap:RetainedEarningsMember2020-09-300001772695us-gaap:ParentMember2020-09-300001772695us-gaap:NoncontrollingInterestMember2020-09-30a12344345:customera12344345:state0001772695srt:MinimumMember2020-01-012020-09-300001772695srt:MedianMember2020-01-012020-09-300001772695srt:MaximumMember2020-01-012020-09-30a12344345:renewal_option0001772695a12344345:LeaseandPowerPurchaseAgreementPPAMember2020-01-012020-09-300001772695srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-01-010001772695srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-01-0100017726952020-01-010001772695srt:ScenarioPreviouslyReportedMember2019-12-310001772695srt:RestatementAdjustmentMember2019-12-310001772695srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2019-12-310001772695srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2019-12-310001772695srt:ScenarioPreviouslyReportedMember2019-06-300001772695srt:RestatementAdjustmentMember2019-06-300001772695srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2019-06-300001772695srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2019-06-300001772695srt:ScenarioPreviouslyReportedMember2019-07-012019-09-300001772695srt:RestatementAdjustmentMember2019-07-012019-09-300001772695srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2019-07-012019-09-300001772695srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2019-07-012019-09-300001772695srt:ScenarioPreviouslyReportedMember2019-09-300001772695srt:RestatementAdjustmentMember2019-09-300001772695srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2019-09-300001772695srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2019-09-300001772695srt:ScenarioPreviouslyReportedMember2020-01-012020-03-310001772695srt:RestatementAdjustmentMember2020-01-012020-03-310001772695srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2020-01-012020-03-310001772695srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2020-01-012020-03-310001772695srt:ScenarioPreviouslyReportedMember2020-03-310001772695srt:RestatementAdjustmentMember2020-03-310001772695srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2020-03-310001772695srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2020-03-310001772695srt:ScenarioPreviouslyReportedMember2020-04-012020-06-300001772695srt:RestatementAdjustmentMember2020-04-012020-06-300001772695srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2020-04-012020-06-300001772695srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2020-04-012020-06-300001772695srt:ScenarioPreviouslyReportedMember2020-06-300001772695srt:RestatementAdjustmentMember2020-06-300001772695srt:ScenarioPreviouslyReportedMemberus-gaap:NoncontrollingInterestMember2020-06-300001772695srt:RestatementAdjustmentMemberus-gaap:NoncontrollingInterestMember2020-06-300001772695a12344345:BatteriesandComponentsMember2020-09-300001772695a12344345:BatteriesandComponentsMember2019-12-310001772695a12344345:ModulesandInvertersMember2020-09-300001772695a12344345:ModulesandInvertersMember2019-12-310001772695a12344345:MetersMember2020-09-300001772695a12344345:MetersMember2019-12-310001772695a12344345:PowerPurchaseAgreementPPAMember2020-07-012020-09-300001772695a12344345:PowerPurchaseAgreementPPAMember2019-07-012019-09-300001772695a12344345:PowerPurchaseAgreementPPAMember2020-01-012020-09-300001772695a12344345:PowerPurchaseAgreementPPAMember2019-01-012019-09-300001772695a12344345:LeaseRevenueMember2020-07-012020-09-300001772695a12344345:LeaseRevenueMember2019-07-012019-09-300001772695a12344345:LeaseRevenueMember2020-01-012020-09-300001772695a12344345:LeaseRevenueMember2019-01-012019-09-300001772695a12344345:SolarRenewableEnergyCertificateRevenueMember2020-07-012020-09-300001772695a12344345:SolarRenewableEnergyCertificateRevenueMember2019-07-012019-09-300001772695a12344345:SolarRenewableEnergyCertificateRevenueMember2020-01-012020-09-300001772695a12344345:SolarRenewableEnergyCertificateRevenueMember2019-01-012019-09-300001772695a12344345:EasyOwnProgramRevenueMember2020-07-012020-09-300001772695a12344345:EasyOwnProgramRevenueMember2019-07-012019-09-300001772695a12344345:EasyOwnProgramRevenueMember2020-01-012020-09-300001772695a12344345:EasyOwnProgramRevenueMember2019-01-012019-09-300001772695a12344345:OtherRevenueMember2020-07-012020-09-300001772695a12344345:OtherRevenueMember2019-07-012019-09-300001772695a12344345:OtherRevenueMember2020-01-012020-09-300001772695a12344345:OtherRevenueMember2019-01-012019-09-30xbrli:pure00017726952020-10-012020-09-300001772695srt:MaximumMembera12344345:PowerPurchaseAgreementPPAMember2020-01-012020-09-300001772695srt:MaximumMembera12344345:LeaseRevenueMember2020-01-012020-09-300001772695a12344345:SolarRenewableEnergyCertificatesMember2019-12-310001772695a12344345:SolarRenewableEnergyCertificatesMember2020-09-300001772695srt:MinimumMembera12344345:EasyOwnProgramRevenueMember2020-01-012020-09-300001772695srt:MedianMembera12344345:EasyOwnProgramRevenueMember2020-01-012020-09-300001772695srt:MaximumMembera12344345:EasyOwnProgramRevenueMember2020-01-012020-09-30a12344345:FICO_score0001772695a12344345:EasyOwnProgramRevenueMember2020-09-300001772695a12344345:EasyOwnProgramRevenueMember2019-12-310001772695a12344345:PowerPurchaseAgreementsandLeaseRevenueMember2020-09-300001772695a12344345:PowerPurchaseAgreementsandLeaseRevenueMember2019-12-310001772695a12344345:SRECsMember2020-09-300001772695a12344345:SRECsMember2019-12-310001772695us-gaap:ElectricGenerationEquipmentMember2020-01-012020-09-300001772695us-gaap:ElectricGenerationEquipmentMember2020-09-300001772695us-gaap:ElectricGenerationEquipmentMember2019-12-310001772695us-gaap:ConstructionInProgressMember2020-09-300001772695us-gaap:ConstructionInProgressMember2019-12-310001772695a12344345:AssetRetirementObligationsMember2020-01-012020-09-300001772695a12344345:AssetRetirementObligationsMember2020-09-300001772695a12344345:AssetRetirementObligationsMember2019-12-310001772695us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2020-01-012020-09-300001772695us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2020-09-300001772695us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2019-12-310001772695srt:MinimumMemberus-gaap:OfficeEquipmentMember2020-01-012020-09-300001772695srt:MaximumMemberus-gaap:OfficeEquipmentMember2020-01-012020-09-300001772695us-gaap:OfficeEquipmentMember2020-09-300001772695us-gaap:OfficeEquipmentMember2019-12-310001772695srt:MinimumMemberus-gaap:LeaseholdImprovementsMember2020-01-012020-09-300001772695srt:MaximumMemberus-gaap:LeaseholdImprovementsMember2020-01-012020-09-300001772695us-gaap:LeaseholdImprovementsMember2020-09-300001772695us-gaap:LeaseholdImprovementsMember2019-12-310001772695us-gaap:FurnitureAndFixturesMember2020-01-012020-09-300001772695us-gaap:FurnitureAndFixturesMember2020-09-300001772695us-gaap:FurnitureAndFixturesMember2019-12-310001772695srt:MinimumMemberus-gaap:VehiclesMember2020-01-012020-09-300001772695srt:MaximumMemberus-gaap:VehiclesMember2020-01-012020-09-300001772695us-gaap:VehiclesMember2020-09-300001772695us-gaap:VehiclesMember2019-12-310001772695srt:MinimumMemberus-gaap:OtherCapitalizedPropertyPlantAndEquipmentMember2020-01-012020-09-300001772695us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMembersrt:MaximumMember2020-01-012020-09-300001772695us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMember2020-09-300001772695us-gaap:OtherCapitalizedPropertyPlantAndEquipmentMember2019-12-310001772695us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300001772695us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001772695us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300001772695us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001772695us-gaap:NotesReceivableMember2020-09-300001772695us-gaap:NotesReceivableMember2019-12-310001772695us-gaap:NotesReceivableMember2020-07-012020-09-300001772695us-gaap:NotesReceivableMember2019-07-012019-09-300001772695us-gaap:NotesReceivableMember2020-01-012020-09-300001772695us-gaap:NotesReceivableMember2019-01-012019-09-300001772695a12344345:FinancialAsset190DaysPastDueMember2020-09-300001772695a12344345:FinancialAsset190DaysPastDueMember2019-12-310001772695a12344345:FinancialAsset91180DaysPastDueMember2020-09-300001772695a12344345:FinancialAsset91180DaysPastDueMember2019-12-310001772695a12344345:FinancialAssetGreaterThan180DaysPastDueMember2020-09-300001772695a12344345:FinancialAssetGreaterThan180DaysPastDueMember2019-12-310001772695us-gaap:PerformingFinancingReceivableMember2020-09-300001772695us-gaap:NonperformingFinancingReceivableMember2020-09-300001772695a12344345:SEIMembera12344345:ConvertibleSeniorNotesMembera12344345:SevenPointSevenFiveConvertibleSeniorNotesMember2019-12-310001772695a12344345:SEIMembera12344345:ConvertibleSeniorNotesMembera12344345:SevenPointSevenFiveConvertibleSeniorNotesMember2020-01-012020-09-300001772695a12344345:SEIMembera12344345:ConvertibleSeniorNotesMembera12344345:SevenPointSevenFiveConvertibleSeniorNotesMember2020-09-300001772695a12344345:SEIMembera12344345:ConvertibleSeniorNotesMembera12344345:SevenPointSevenFiveConvertibleSeniorNotesMember2019-01-012019-12-310001772695a12344345:SEIMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2020-09-300001772695a12344345:SEIMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2020-01-012020-09-300001772695a12344345:SEIMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2019-12-310001772695a12344345:SunnovaEnergyCorporationMemberus-gaap:NotesPayableOtherPayablesMember2020-01-012020-09-300001772695a12344345:SunnovaEnergyCorporationMemberus-gaap:NotesPayableOtherPayablesMember2020-09-300001772695a12344345:SunnovaEnergyCorporationMemberus-gaap:NotesPayableOtherPayablesMember2019-01-012019-12-310001772695a12344345:SunnovaEnergyCorporationMemberus-gaap:NotesPayableOtherPayablesMember2019-12-310001772695a12344345:SunnovaAssetPortfolio4LLCMemberus-gaap:SecuredDebtMember2020-01-012020-09-300001772695a12344345:SunnovaAssetPortfolio4LLCMemberus-gaap:SecuredDebtMember2020-09-300001772695a12344345:SunnovaAssetPortfolio4LLCMemberus-gaap:SecuredDebtMember2019-01-012019-12-310001772695a12344345:SunnovaAssetPortfolio4LLCMemberus-gaap:SecuredDebtMember2019-12-310001772695a12344345:SunnovaAssetPortfolio4LLCMember2020-09-300001772695a12344345:SunnovaAssetPortfolio4LLCMember2019-12-310001772695a12344345:HeliosIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-01-012020-09-300001772695a12344345:HeliosIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-09-300001772695a12344345:HeliosIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-01-012019-12-310001772695a12344345:HeliosIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-12-310001772695a12344345:HeliosIssuerLLCMember2020-09-300001772695a12344345:HeliosIssuerLLCMember2019-12-310001772695a12344345:SunnovaLAPHoldingsLLCMemberus-gaap:SecuredDebtMember2020-01-012020-09-300001772695a12344345:SunnovaLAPHoldingsLLCMemberus-gaap:SecuredDebtMember2020-09-300001772695a12344345:SunnovaLAPHoldingsLLCMemberus-gaap:SecuredDebtMember2019-01-012019-12-310001772695a12344345:SunnovaLAPHoldingsLLCMemberus-gaap:SecuredDebtMember2019-12-310001772695a12344345:SunnovaLAPHoldingsLLCMember2020-09-300001772695a12344345:SunnovaLAPHoldingsLLCMember2019-12-310001772695us-gaap:WarehouseAgreementBorrowingsMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-01-012020-09-300001772695us-gaap:WarehouseAgreementBorrowingsMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-09-300001772695us-gaap:WarehouseAgreementBorrowingsMembera12344345:SunnovaEZOwnPortfolioLLCMember2019-01-012019-12-310001772695us-gaap:WarehouseAgreementBorrowingsMembera12344345:SunnovaEZOwnPortfolioLLCMember2019-12-310001772695a12344345:SunnovaEZOwnPortfolioLLCMember2020-09-300001772695a12344345:SunnovaEZOwnPortfolioLLCMember2019-12-310001772695us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembera12344345:SunnovaTEPIIHoldingsLLCMember2020-01-012020-09-300001772695us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembera12344345:SunnovaTEPIIHoldingsLLCMember2020-09-300001772695us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembera12344345:SunnovaTEPIIHoldingsLLCMember2019-01-012019-12-310001772695us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembera12344345:SunnovaTEPIIHoldingsLLCMember2019-12-310001772695a12344345:SunnovaTEPIIHoldingsLLCMember2020-09-300001772695a12344345:SunnovaTEPIIHoldingsLLCMember2019-12-310001772695a12344345:HeliosIIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-01-012020-09-300001772695a12344345:HeliosIIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-09-300001772695a12344345:HeliosIIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-01-012019-12-310001772695a12344345:HeliosIIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-12-310001772695a12344345:HeliosIIIssuerLLCMember2020-09-300001772695a12344345:HeliosIIIssuerLLCMember2019-12-310001772695a12344345:SunnovaRAYSIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-01-012020-09-300001772695a12344345:SunnovaRAYSIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-09-300001772695a12344345:SunnovaRAYSIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-01-012019-12-310001772695a12344345:SunnovaRAYSIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-12-310001772695a12344345:SunnovaRAYSIIssuerLLCMember2020-09-300001772695a12344345:SunnovaRAYSIIssuerLLCMember2019-12-310001772695a12344345:LoanBackedNotesMembera12344345:HeliosIIIIssuerLLCMember2020-01-012020-09-300001772695a12344345:LoanBackedNotesMembera12344345:HeliosIIIIssuerLLCMember2020-09-300001772695a12344345:LoanBackedNotesMembera12344345:HeliosIIIIssuerLLCMember2019-01-012019-12-310001772695a12344345:LoanBackedNotesMembera12344345:HeliosIIIIssuerLLCMember2019-12-310001772695a12344345:HeliosIIIIssuerLLCMember2020-09-300001772695a12344345:HeliosIIIIssuerLLCMember2019-12-310001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-01-012020-09-300001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-09-300001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2019-01-012019-12-310001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2019-12-310001772695a12344345:SunnovaTEPHoldingsLLCMember2020-09-300001772695a12344345:SunnovaTEPHoldingsLLCMember2019-12-310001772695a12344345:TEPINVMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-01-012020-09-300001772695a12344345:TEPINVMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-09-300001772695a12344345:TEPINVMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2019-01-012019-12-310001772695a12344345:TEPINVMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2019-12-310001772695a12344345:TEPINVMember2020-09-300001772695a12344345:TEPINVMember2019-12-310001772695us-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2020-01-012020-09-300001772695us-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2020-09-300001772695us-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2019-12-310001772695a12344345:SunnovaSolIssuerLLCMember2020-09-300001772695a12344345:SunnovaSolIssuerLLCMember2019-12-310001772695a12344345:LoanBackedNotesMembera12344345:HeliosIVIssuerLLCMember2020-01-012020-09-300001772695a12344345:LoanBackedNotesMembera12344345:HeliosIVIssuerLLCMember2020-09-300001772695a12344345:LoanBackedNotesMembera12344345:HeliosIVIssuerLLCMember2019-12-310001772695a12344345:HeliosIVIssuerLLCMember2020-09-300001772695a12344345:HeliosIVIssuerLLCMember2019-12-310001772695us-gaap:LineOfCreditMembera12344345:SunnovaAssetPortfolio8LLCMemberus-gaap:RevolvingCreditFacilityMember2020-09-300001772695a12344345:SEIMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2020-05-310001772695a12344345:SEIMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2020-05-012020-05-310001772695a12344345:SEIMembera12344345:ConvertibleSeniorNotesMembera12344345:SevenPointSevenFiveConvertibleSeniorNotesMember2020-05-310001772695a12344345:SEIMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2020-07-012020-09-300001772695a12344345:SEIMemberus-gaap:DebtInstrumentRedemptionPeriodOneMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2020-01-012020-09-300001772695a12344345:SEIMemberus-gaap:DebtInstrumentRedemptionPeriodOneMembera12344345:ConvertibleSeniorNotesMember2020-01-012020-09-300001772695a12344345:SEIMemberus-gaap:DebtInstrumentRedemptionPeriodTwoMembera12344345:ConvertibleSeniorNotesMember2020-01-012020-09-300001772695a12344345:SEIMemberus-gaap:DebtInstrumentRedemptionPeriodThreeMembera12344345:ConvertibleSeniorNotesMember2020-01-012020-09-300001772695us-gaap:DebtInstrumentRedemptionPeriodFourMembera12344345:SEIMembera12344345:ConvertibleSeniorNotesMember2020-01-012020-09-300001772695a12344345:SunnovaAssetPortfolio4LLCMember2020-02-012020-02-290001772695a12344345:SunnovaTEPIIHoldingsLLCMember2020-02-012020-02-290001772695a12344345:SunnovaLAPHoldingsLLCMember2020-02-012020-02-290001772695a12344345:SunnovaEZOwnPortfolioLLCMember2020-06-012020-06-300001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-03-310001772695a12344345:SunnovaTEPHoldingsLLCMembera12344345:TEPHClassBMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-03-310001772695a12344345:SunnovaTEPHoldingsLLCMembera12344345:TEPHClassAMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-03-310001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-05-300001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-05-310001772695us-gaap:LondonInterbankOfferedRateLIBORMembera12344345:SunnovaTEPHoldingsLLCMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-01-012020-09-300001772695a12344345:SOLISeries20201ClassAMemberus-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2020-02-290001772695a12344345:SOLISeries20201ClassBMemberus-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2020-02-290001772695a12344345:SOLISeries20201ClassAMemberus-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2020-02-012020-02-290001772695a12344345:SOLISeries20201ClassBMemberus-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2020-02-012020-02-290001772695a12344345:HELIVSeries2020AClassAMembera12344345:LoanBackedNotesMembera12344345:HeliosIVIssuerLLCMember2020-06-300001772695a12344345:LoanBackedNotesMembera12344345:HeliosIVIssuerLLCMembera12344345:HELIVSeries2020AClassBMember2020-06-300001772695a12344345:HELIVSeries2020AClassAMembera12344345:LoanBackedNotesMembera12344345:HeliosIVIssuerLLCMember2020-06-012020-06-300001772695a12344345:LoanBackedNotesMembera12344345:HeliosIVIssuerLLCMembera12344345:HELIVSeries2020AClassBMember2020-06-012020-06-300001772695a12344345:SEIMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:ConvertibleSeniorNotesMembera12344345:SevenPointSevenFiveConvertibleSeniorNotesMember2020-09-300001772695a12344345:SEIMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:ConvertibleSeniorNotesMembera12344345:SevenPointSevenFiveConvertibleSeniorNotesMember2020-09-300001772695a12344345:SEIMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:ConvertibleSeniorNotesMembera12344345:SevenPointSevenFiveConvertibleSeniorNotesMember2019-12-310001772695a12344345:SEIMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:ConvertibleSeniorNotesMembera12344345:SevenPointSevenFiveConvertibleSeniorNotesMember2019-12-310001772695a12344345:SEIMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2020-09-300001772695a12344345:SEIMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2020-09-300001772695a12344345:SEIMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2019-12-310001772695a12344345:SEIMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2019-12-310001772695a12344345:SunnovaEnergyCorporationMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300001772695a12344345:SunnovaEnergyCorporationMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300001772695a12344345:SunnovaEnergyCorporationMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001772695a12344345:SunnovaEnergyCorporationMemberus-gaap:NotesPayableOtherPayablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001772695us-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:SunnovaAssetPortfolio4LLCMemberus-gaap:SecuredDebtMember2020-09-300001772695us-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:SunnovaAssetPortfolio4LLCMemberus-gaap:SecuredDebtMember2020-09-300001772695us-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:SunnovaAssetPortfolio4LLCMemberus-gaap:SecuredDebtMember2019-12-310001772695us-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:SunnovaAssetPortfolio4LLCMemberus-gaap:SecuredDebtMember2019-12-310001772695a12344345:HeliosIssuerLLCMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMember2020-09-300001772695a12344345:HeliosIssuerLLCMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMember2020-09-300001772695a12344345:HeliosIssuerLLCMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMember2019-12-310001772695a12344345:HeliosIssuerLLCMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMember2019-12-310001772695a12344345:SunnovaLAPHoldingsLLCMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SecuredDebtMember2020-09-300001772695a12344345:SunnovaLAPHoldingsLLCMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SecuredDebtMember2020-09-300001772695a12344345:SunnovaLAPHoldingsLLCMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:SecuredDebtMember2019-12-310001772695a12344345:SunnovaLAPHoldingsLLCMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:SecuredDebtMember2019-12-310001772695us-gaap:WarehouseAgreementBorrowingsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-09-300001772695us-gaap:WarehouseAgreementBorrowingsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-09-300001772695us-gaap:WarehouseAgreementBorrowingsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:SunnovaEZOwnPortfolioLLCMember2019-12-310001772695us-gaap:WarehouseAgreementBorrowingsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:SunnovaEZOwnPortfolioLLCMember2019-12-310001772695us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembera12344345:SunnovaTEPIIHoldingsLLCMember2020-09-300001772695us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembera12344345:SunnovaTEPIIHoldingsLLCMember2020-09-300001772695us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembera12344345:SunnovaTEPIIHoldingsLLCMember2019-12-310001772695us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembera12344345:SunnovaTEPIIHoldingsLLCMember2019-12-310001772695us-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:HeliosIIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-09-300001772695us-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:HeliosIIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-09-300001772695us-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:HeliosIIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-12-310001772695us-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:HeliosIIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-12-310001772695us-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:SunnovaRAYSIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-09-300001772695us-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:SunnovaRAYSIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2020-09-300001772695us-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:SunnovaRAYSIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-12-310001772695us-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:SunnovaRAYSIIssuerLLCMemberus-gaap:AssetBackedSecuritiesMember2019-12-310001772695us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:HeliosIIIIssuerLLCMember2020-09-300001772695us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:HeliosIIIIssuerLLCMember2020-09-300001772695us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:HeliosIIIIssuerLLCMember2019-12-310001772695us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:HeliosIIIIssuerLLCMember2019-12-310001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-09-300001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-09-300001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2019-12-310001772695a12344345:SunnovaTEPHoldingsLLCMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2019-12-310001772695a12344345:TEPINVMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-09-300001772695a12344345:TEPINVMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-09-300001772695a12344345:TEPINVMemberus-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2019-12-310001772695a12344345:TEPINVMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2019-12-310001772695us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2020-09-300001772695us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2020-09-300001772695us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2019-12-310001772695us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:AssetBackedSecuritiesMembera12344345:SunnovaSolIssuerLLCMember2019-12-310001772695us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:HeliosIVIssuerLLCMember2020-09-300001772695us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:HeliosIVIssuerLLCMember2020-09-300001772695us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMembera12344345:HeliosIVIssuerLLCMember2019-12-310001772695us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembera12344345:HeliosIVIssuerLLCMember2019-12-310001772695us-gaap:InterestRateSwapMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-06-300001772695us-gaap:InterestRateSwapMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-06-012020-06-300001772695a12344345:InterestRateSwapOneMembera12344345:SunnovaAssetPortfolio4LLCMember2020-09-300001772695a12344345:InterestRateSwapOneMembera12344345:SunnovaAssetPortfolio4LLCMember2019-12-310001772695a12344345:SunnovaLAPHoldingsLLCMembera12344345:InterestRateSwapTwoMember2020-09-300001772695a12344345:SunnovaLAPHoldingsLLCMembera12344345:InterestRateSwapTwoMember2019-12-310001772695srt:MinimumMembera12344345:InterestRateSwapThreeMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-09-300001772695a12344345:InterestRateSwapThreeMembersrt:MaximumMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-09-300001772695a12344345:InterestRateSwapThreeMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-09-300001772695srt:MinimumMembera12344345:InterestRateSwapThreeMembera12344345:SunnovaEZOwnPortfolioLLCMember2019-12-310001772695a12344345:InterestRateSwapThreeMembersrt:MaximumMembera12344345:SunnovaEZOwnPortfolioLLCMember2019-12-310001772695a12344345:InterestRateSwapThreeMembera12344345:SunnovaEZOwnPortfolioLLCMember2019-12-310001772695a12344345:InterestRateSwapFourMembera12344345:SunnovaTEPIIHoldingsLLCMember2020-09-300001772695srt:MinimumMembera12344345:InterestRateSwapFourMembera12344345:SunnovaTEPIIHoldingsLLCMember2019-12-310001772695a12344345:InterestRateSwapFourMembersrt:MaximumMembera12344345:SunnovaTEPIIHoldingsLLCMember2019-12-310001772695a12344345:InterestRateSwapFourMembera12344345:SunnovaTEPIIHoldingsLLCMember2019-12-310001772695srt:MinimumMembera12344345:SunnovaTEPHoldingsLLCMembera12344345:InterestRateSwapFiveMember2020-09-300001772695a12344345:SunnovaTEPHoldingsLLCMembersrt:MaximumMembera12344345:InterestRateSwapFiveMember2020-09-300001772695a12344345:SunnovaTEPHoldingsLLCMembera12344345:InterestRateSwapFiveMember2020-09-300001772695srt:MinimumMembera12344345:SunnovaTEPHoldingsLLCMembera12344345:InterestRateSwapFiveMember2019-12-310001772695a12344345:SunnovaTEPHoldingsLLCMembersrt:MaximumMembera12344345:InterestRateSwapFiveMember2019-12-310001772695a12344345:SunnovaTEPHoldingsLLCMembera12344345:InterestRateSwapFiveMember2019-12-310001772695a12344345:TEPINVMembera12344345:InterestRateSwapSixMember2020-09-300001772695a12344345:TEPINVMembera12344345:InterestRateSwapSixMember2019-12-310001772695us-gaap:InterestRateSwapMember2020-09-300001772695us-gaap:InterestRateSwapMember2019-12-310001772695us-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-09-300001772695us-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2019-12-310001772695us-gaap:InterestRateSwapMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:NondesignatedMember2020-09-300001772695us-gaap:InterestRateSwapMemberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:NondesignatedMember2019-12-310001772695us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-09-300001772695us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2019-12-310001772695us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-09-300001772695us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2019-12-310001772695us-gaap:InterestExpenseMemberus-gaap:InterestRateContractMember2020-07-012020-09-300001772695us-gaap:InterestExpenseMemberus-gaap:InterestRateContractMember2019-07-012019-09-300001772695us-gaap:InterestExpenseMemberus-gaap:InterestRateContractMember2020-01-012020-09-300001772695us-gaap:InterestExpenseMemberus-gaap:InterestRateContractMember2019-01-012019-09-300001772695a12344345:ClassAMembersMembera12344345:SunnovaTEPIVCLLCMember2020-02-012020-02-290001772695a12344345:ClassAMembersMembera12344345:SunnovaTEPIVDLLCMember2020-05-012020-05-310001772695a12344345:ClassAMembersMembera12344345:SunnovaTEPIVFLLCMember2020-07-012020-07-310001772695a12344345:ClassAMembersMembera12344345:SunnovaTEPIVELLCMember2020-09-012020-09-3000017726952019-01-012019-12-310001772695us-gaap:RestrictedStockUnitsRSUMember2019-12-310001772695us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001772695us-gaap:RestrictedStockUnitsRSUMember2020-09-300001772695us-gaap:RestrictedStockUnitsRSUMember2020-07-012020-09-300001772695us-gaap:EmployeeStockOptionMember2020-07-012020-09-300001772695us-gaap:EmployeeStockOptionMember2019-07-012019-09-300001772695us-gaap:EmployeeStockOptionMember2020-01-012020-09-300001772695us-gaap:EmployeeStockOptionMember2019-01-012019-09-300001772695us-gaap:ConvertiblePreferredStockMember2020-07-012020-09-300001772695us-gaap:ConvertiblePreferredStockMember2019-07-012019-09-300001772695us-gaap:ConvertiblePreferredStockMember2020-01-012020-09-300001772695us-gaap:ConvertiblePreferredStockMember2019-01-012019-09-300001772695a12344345:ConvertibleSeniorNotesMember2020-07-012020-09-300001772695a12344345:ConvertibleSeniorNotesMember2019-07-012019-09-300001772695a12344345:ConvertibleSeniorNotesMember2020-01-012020-09-300001772695a12344345:ConvertibleSeniorNotesMember2019-01-012019-09-300001772695us-gaap:PerformanceGuaranteeMember2020-09-300001772695us-gaap:PerformanceGuaranteeMember2019-12-310001772695us-gaap:PerformanceGuaranteeMember2018-12-310001772695us-gaap:PerformanceGuaranteeMember2020-01-012020-09-300001772695us-gaap:PerformanceGuaranteeMember2019-01-012019-09-300001772695us-gaap:PerformanceGuaranteeMember2019-09-300001772695a12344345:LongTermDealerCommitmentsMember2020-09-300001772695us-gaap:SubsequentEventMembera12344345:SunnovaEZOwnPortfolioLLCMember2020-10-012020-10-290001772695us-gaap:SubsequentEventMembera12344345:SunnovaTEPHoldingsLLCMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-10-290001772695a12344345:SEIMemberus-gaap:SubsequentEventMembera12344345:NinePointSevenFiveConvertibleSeniorNotesDueAprilTwentyTwentyFiveMembera12344345:ConvertibleSeniorNotesMember2020-10-012020-10-29

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________________________________________________

FORM 10-Q
_______________________________________________________________________________
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _________ to _________
Commission File Number: 001-38995
_______________________________________________________________________________
Sunnova Energy International Inc.
(Exact name of registrant as specified in its charter)
_______________________________________________________________________________
Delaware
30-1192746
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification Number)
20 East Greenway Plaza, Suite 540
Houston, Texas 77046
(Address, including zip code, of principal executive offices)

(281) 985-9904
(Registrant's telephone number, including area code)
_______________________________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock, $0.0001 par value per shareNOVANew York Stock Exchange


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filer
Smaller reporting company
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No

The registrant had 93,587,398 shares of common stock outstanding as of October 26, 2020.


Table of Contents


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements generally relate to future events or Sunnova's future financial or operating performance. Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. In some cases, you can identify these statements because they contain words such as "may," "will," "likely," "should," "expect," "anticipate," "could," "contemplate," "target," "future," "plan," "believe," "intend," "goal," "seek," "estimate," "project," "target," "predict," "potential," "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this report include, but are not limited to, statements about:

the effects of the coronavirus pandemic on our business and operations, results of operations and financial position;
federal, state and local statutes, regulations and policies;
the price of centralized utility-generated electricity and electricity from other sources and technologies;
technical and capacity limitations imposed by operators of the power grid;
the availability of tax rebates, credits and incentives, including changes to the rates of, or expiration of, federal tax credits and the availability of related safe harbors;
our need and ability to raise capital to finance the installation and acquisition of distributed residential solar energy systems, refinance existing debt or otherwise meet our liquidity needs;
our expectations concerning relationships with third parties, including the attraction, retention, performance and continued existence of our dealers;
our ability to manage our supply chains and distribution channels and the impact of natural disasters and other events beyond our control, such as the coronavirus pandemic;
our ability to retain or upgrade current customers, further penetrate existing markets or expand into new markets;
our investment in our platform and new product offerings and the demand for and expected benefits of our platform and product offerings;
the ability of our solar energy systems, energy storage systems or other product offerings to operate or deliver energy for any reason, including if interconnection or transmission facilities on which we rely become unavailable;
our ability to maintain our brand and protect our intellectual property and customer data;
our ability to manage the cost of solar energy systems, energy storage systems and our service offerings;
the willingness of and ability of our dealers and suppliers to fulfill their respective warranty and other contractual obligations;
our expectations regarding litigation and administrative proceedings; and
our ability to renew or replace expiring, canceled or terminated solar service agreements at favorable rates or on a long-term basis.

Our actual results and timing of these events may differ materially from those anticipated in these forward-looking statements as a result of many factors, including but not limited to those discussed under "Risk Factors" and elsewhere in this Quarterly Report on Form 10-Q. Moreover, we operate in a very competitive and rapidly changing environment and new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this Quarterly Report on Form 10-Q may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this Quarterly Report on Form 10-Q to conform these statements to actual results or to changes in our expectations, except as required by law.

2

Table of Contents


TABLE OF CONTENTS

Page
PART I - FINANCIAL INFORMATION
Item 1.
Item 2.
Item 3.
Item 4.
PART II - OTHER INFORMATION
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.

3

Table of Contents


PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

SUNNOVA ENERGY INTERNATIONAL INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share amounts and share par values)
As of 
 September 30, 2020
As of 
 December 31, 2019
Assets
Current assets:
Cash$84,635 $83,485 
Accounts receivable—trade, net11,799 10,672 
Accounts receivable—other13,354 6,147 
Other current assets, net of allowance of $591 and $112 as of September 30, 2020 and December 31, 2019, respectively
199,637 174,016 
Total current assets309,425 274,320 
Property and equipment, net2,172,727 1,745,060 
Customer notes receivable, net of allowance of $14,177 and $979 as of September 30, 2020 and December 31, 2019, respectively
428,586 297,975 
Other assets243,548 169,712 
Total assets (1)$3,154,286 $2,487,067 
Liabilities, Redeemable Noncontrolling Interests and Equity
Current liabilities:
Accounts payable$29,288 $36,190 
Accrued expenses27,944 39,544 
Current portion of long-term debt109,729 97,464 
Other current liabilities18,572 21,804 
Total current liabilities185,533 195,002 
Long-term debt, net1,795,039 1,346,419 
Other long-term liabilities162,395 127,406 
Total liabilities (1)2,142,967 1,668,827 
Commitments and contingencies (Note 14)
Redeemable noncontrolling interests135,847 127,129 
Stockholders' equity:
Common stock, 91,125,076 and 83,980,885 shares issued as of September 30, 2020 and December 31, 2019, respectively, at $0.0001 par value
9 8 
Additional paid-in capital—common stock1,198,680 1,007,751 
Accumulated deficit(476,095)(361,824)
Total stockholders' equity722,594 645,935 
Noncontrolling interests152,878 45,176 
Total equity875,472 691,111 
Total liabilities, redeemable noncontrolling interests and equity$3,154,286 $2,487,067 

(1) The consolidated assets as of September 30, 2020 and December 31, 2019 include $1,254,660 and $790,211, respectively, of assets of variable interest entities ("VIEs") that can only be used to settle obligations of the VIEs. These assets include cash of $12,396 and $7,347 as of September 30, 2020 and December 31, 2019, respectively; accounts receivable—trade, net of $2,719 and $1,460 as of September 30, 2020 and December 31, 2019, respectively; accounts receivable—other of $903 and $4 as of September 30, 2020 and December 31, 2019, respectively; other current assets of $131,242 and $47,606 as of September 30, 2020 and December 31, 2019, respectively; property and equipment, net of $1,094,801 and $726,415 as of September 30, 2020 and December 31, 2019, respectively; and other assets of $12,599 and $7,379 as of September 30, 2020 and December 31, 2019, respectively. The consolidated liabilities as of September 30, 2020 and December 31, 2019 include $20,227 and $13,440, respectively, of liabilities of VIEs whose creditors have no recourse to Sunnova Energy International Inc. These liabilities include accounts payable of $2,133 and $1,926 as of September 30, 2020 and December 31, 2019, respectively; accrued expenses of $603 and $35 as of September 30, 2020 and December 31, 2019, respectively; other current liabilities of $277 and $612 as of September 30, 2020 and December 31, 2019, respectively; and other long-term liabilities of $17,214 and $10,867 as of September 30, 2020 and December 31, 2019, respectively.
See accompanying notes to unaudited condensed consolidated financial statements.
4

Table of Contents


SUNNOVA ENERGY INTERNATIONAL INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share amounts)

Three Months Ended 
 September 30,
Nine Months Ended 
 September 30,
2020201920202019
Revenue$50,177 $36,615 $122,796 $97,942 
Operating expense:
Cost of revenue—depreciation15,113 10,942 42,120 30,820 
Cost of revenue—other1,403 1,186 5,315 2,914 
Operations and maintenance3,469 1,925 8,614 6,468 
General and administrative28,549 28,509 84,575 70,984 
Other operating income(6)(49)(28)(129)
Total operating expense, net48,528 42,513 140,596 111,057 
Operating income (loss)1,649 (5,898)(17,800)(13,115)
Interest expense, net29,954 30,884 127,804 99,855 
Interest expense, net—affiliates 701  4,098 
Interest income(5,999)(3,407)(17,299)(8,868)
Loss on extinguishment of long-term debt, net50,721  50,721  
Loss on extinguishment of long-term debt, net—affiliates   10,645 
Other (income) expense91 293 (175)827 
Loss before income tax(73,118)(34,369)(178,851)(119,672)
Income tax expense176  176  
Net loss(73,294)(34,369)(179,027)(119,672)
Net income (loss) attributable to redeemable noncontrolling interests and noncontrolling interests(9,113)3,221 (18,513)7,170 
Net loss attributable to stockholders(64,181)(37,590)(160,514)(126,842)
Dividends earned on Series A convertible preferred stock   (19,271)
Dividends earned on Series C convertible preferred stock   (5,454)
Net loss attributable to common stockholders—basic and diluted$(64,181)$(37,590)$(160,514)$(151,567)
Net loss per share attributable to common stockholders—basic and diluted$(0.73)$(0.62)$(1.88)$(5.77)
Weighted average common shares outstanding—basic and diluted87,768,712 60,890,129 85,276,841 26,245,493 

See accompanying notes to unaudited condensed consolidated financial statements.

5

Table of Contents


SUNNOVA ENERGY INTERNATIONAL INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Nine Months Ended 
 September 30,
20202019
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss$(179,027)$(119,672)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation47,811 34,987 
Impairment and loss on disposals, net1,768 1,236 
Amortization of deferred financing costs6,781 8,795 
Amortization of debt discount12,205 2,027 
Non-cash effect of equity-based compensation plans8,389 6,974 
Non-cash payment-in-kind interest on loan780  
Non-cash payment-in-kind interest on loan—affiliates
 2,716 
Unrealized loss on derivatives2,755 30,262 
Unrealized (gain) loss on fair value option instruments(165)97 
Loss on extinguishment of long-term debt, net50,721  
Loss on extinguishment of long-term debt, net—affiliates 10,645 
Other non-cash items10,566 4,637 
Changes in components of operating assets and liabilities:
Accounts receivable(2,785)(8,006)
Other current assets(10,688)(11,753)
Other assets(32,541)(37,787)
Accounts payable(3,274)5,156 
Accrued expenses(8,566)(2,455)
Other current liabilities(2,781)75 
Long-term debt—paid-in-kind—affiliates
 (719)
Other long-term liabilities(3,745)(1,753)
Net cash used in operating activities(101,796)(74,538)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment(439,855)(299,199)
Payments for investments and customer notes receivable(180,725)(104,391)
Proceeds from customer notes receivable25,028 14,072 
State utility rebates and tax credits327 401 
Other, net950 (584)
Net cash used in investing activities(594,275)(389,701)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt1,182,912 588,153 
Payments of long-term debt(667,670)(318,855)
Proceeds of long-term debt from affiliates 15,000 
Payments of long-term debt to affiliates (56,236)
Payments on notes payable(3,017)(2,177)
Payments of deferred financing costs(18,317)(10,435)
Payments of debt discounts(3,132)(1,084)
Proceeds from issuance of common stock, net4,269 164,695 
Proceeds from equity component of debt instrument, net73,657  
Proceeds from issuance of convertible preferred stock, net (2,510)
Contributions from redeemable noncontrolling interests and noncontrolling interests197,360 119,372 
Distributions to redeemable noncontrolling interests and noncontrolling interests(4,484)(6,289)
Payments of costs related to redeemable noncontrolling interests and noncontrolling interests(4,108)(3,155)
Other, net(1)(15)
Net cash provided by financing activities757,469 486,464 
Net increase in cash and restricted cash61,398 22,225 
Cash and restricted cash at beginning of period150,291 87,046 
Cash and restricted cash at end of period211,689 109,271 
Restricted cash included in other current assets(54,096)(16,688)
Restricted cash included in other assets(72,958)(41,557)
Cash at end of period$84,635 $51,026 
6

Table of Contents


Nine Months Ended 
 September 30,
20202019
Non-cash investing and financing activities:
Change in accounts payable and accrued expenses related to purchases of property and equipment$7,603 $25,576 
Change in accounts payable and accrued expenses related to payments for investments and customer notes receivable$(12,429)$(6,335)
Change in accounts payable and accrued expenses related to financing costs$(972)$(485)
Transfers of inventory to property and equipment, net and customer notes receivable$38,089 $1,628 
Non-cash conversion of convertible senior notes for common stock$84,196 $ 
Supplemental cash flow information:
Cash paid for interest$69,058 $48,866 
Cash paid for income taxes$58 $ 

See accompanying notes to unaudited condensed consolidated financial statements.
7

Table of Contents


SUNNOVA ENERGY INTERNATIONAL INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
(in thousands, except share amounts)
Redeemable
Noncontrolling
Interests
Series A and Series C
Convertible
Preferred Stock
Series A and Series B
Common Stock
Common StockAdditional
Paid-in
Capital -
Convertible
Preferred
Stock
Additional
Paid-in
Capital -
Common
Stock
Accumulated
Deficit
Total
Stockholders'
Equity
Noncontrolling
Interests
Total
Equity
SharesAmountSharesAmountSharesAmount
December 31, 2018$85,680 57,949,374 $579 8,634,455 $86  $ $701,326 $85,439 $(286,312)$501,118 $ $501,118 
Net income (loss)3,018 — — — — — — — — (38,514)(38,514)— (38,514)
Issuance of common stock— — — 2,143 — — — — 4 — 4 — 4 
Repurchase of convertible preferred stock— (13,484)— — — — — (183)— (8)(191)— (191)
Contributions from redeemable noncontrolling interests18,030 — — — — — — — — — — — — 
Distributions to redeemable noncontrolling interests(3,652)— — — — — — — — — — — — 
Costs related to redeemable noncontrolling interests(1,562)— — — — — — — — — — — — 
Equity in subsidiaries attributable to parent(10,125)— — — — — — — — 10,125 10,125 — 10,125 
Equity-based compensation expense— — — — — — — — 281 — 281 — 281 
Other, net2,627 — — — — — — 493 — (2)491 — 491 
March 31, 201994,016 57,935,890 579 8,636,598 86   701,636 85,724 (314,711)473,314  473,314 
Net income (loss)931 — — — — — — — — (50,738)(50,738)— (50,738)
Contributions from redeemable noncontrolling interests32,207 — — — — — — — — — — — — 
Distributions to redeemable noncontrolling interests(1,491)— — — — — — — — — — — — 
Costs related to redeemable noncontrolling interests(419)— — — — — — — — — — — — 
Equity in subsidiaries attributable to parent(18,297)— — — — — — — — 18,297 18,297 — 18,297 
Equity-based compensation expense— — — — — — — — 713 — 713 — 713 
Other, net600 — — — — — — (1)— — (1)— (1)
June 30, 2019107,547 57,935,890 579 8,636,598 86   701,635 86,437 (347,152)441,585  441,585 
Net income (loss)3,028 — — — — — — — — (37,590)(37,590)193 (37,397)
Issuance of common stock, net— — — — — 14,865,267 1 — 164,391 — 164,392 — 164,392 
Non-cash conversion of convertible notes for Series A and Series C convertible preferred stock— 2,543,127 25 — — — — 32,809 — — 32,834 — 32,834 
Non-cash exchange of Series A and Series C convertible preferred stock and Series A and Series B common stock for common stock— (60,479,017)(605)(8,636,601)(86)69,115,618 7 (734,444)735,128 —