Sunnova partners with Brinks Home Security to bundle solar, security systems

Houston-based Sunnova Energy said Thursday that it would partner with home security giant Brinks to offer customers of both companies the option to add security systems or solar panels to their homes.

John Berger, CEO of Sunnova, said the partnership will allow his company and Brinks to expand their customer bases and expand options for homeowners to produce their own electricity, especially as energy prices continue to rise nationwide. Brinks Home Security, which is headquartered in suburban Dallas, has over 950,000 residential and commercial customers nationwide; Sunnova served about 176,900 customers as of Sept. 30.

“What it really gives Brinks is another way to monetize their customer base, and for us it creates the potential of new customers,” Berger said. “This company is really built on partnerships — it’s part of our DNA. More and more companies are recognizing the energy transition is accelerating dramatically, and we see much higher growth across the industry than everyone thinks it will be in the next year.”

The announced partnership follows ADT’s acquisition of Sunpro, which installs and maintains solar panels on homes and commercial properties for about $825 million on Monday. ADT President and CEO Jim DeVries said combining the two companies will give its existing customers access to more energy independence.

“We’re excited to offer consumers even more peace of mind by giving them the opportunity to power their homes with sustainable and affordable solar energy,” he said. “Residential solar represents a $15 billion annual market, but still only in 3 percent of all U.S. homes.”

However, Berger said, keeping Sunnova and Brinks as two separate companies will allow shareholders of both to invest in a fast-growing energy services company and a home security firm that’s increasingly moving toward home automation.

To read the full article, Click Here

Leave a Reply

Your email address will not be published.