Sunrun Inc. provides residential solar, home battery storage and home-to-grid power plant services in the United States. The company designs, installs, sells, owns and maintains residential solar energy systems and offers home energy systems through a subscription model, with customer agreements that can extend over long contract terms.
Sunrun news commonly covers operating and financial results, subscriber and cash-generation metrics, capital-structure disclosures, governance matters and shareholder voting topics. Company updates also address battery storage adoption, distributed power plant programs, grid-services dispatches, utility partnerships and the role of storage-plus-solar systems in supporting local and system-wide electric grids.
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Sunrun (NASDAQ: RUN) announced that Mary Powell will become its new Chief Executive Officer, effective August 31, 2021, succeeding co-founder Lynn Jurich, who will transition to Executive Co-Chair. Powell, a recognized leader in the energy sector, previously served as CEO of Green Mountain Power, where she drove significant operational and customer satisfaction improvements. The transition aims to leverage Powell's expertise to further Sunrun's growth and innovation in residential solar and energy solutions.
Sunrun (RUN) reported strong Q2 2021 results, adding 26,110 customers, reaching a total of 599,743, with a 19% YoY growth post-Vivint Solar acquisition. Annual Recurring Revenue stands at $747 million, with an average contract life of 17 years. The company raised its full-year growth guidance to 30%, up from 25-30%. Q2 revenue surged 121% year-over-year to $401.2 million. However, net loss was $41.2 million, or $0.20 per share. Sunrun is well-positioned for future growth, focusing on solar capacity and innovative services like virtual power plants.
Sunrun (Nasdaq: RUN) announced its second quarter 2021 earnings report will be released on August 5, 2021, after market closure. A conference call to discuss the results is scheduled for 2:00 p.m. Pacific Time, available via the Sunrun Investor Relations website or by phone. The company, a leader in home solar energy and battery storage solutions, aims to enhance accessibility to clean energy through its innovative service plans. More details can be found on their official website.
Sunrun (Nasdaq: RUN) has partnered with Ford to become the preferred installer for the all-electric F-150 Lightning’s Ford Intelligent Backup Power. This partnership will enable seamless installation of the 80-amp Ford Charge Station Pro, allowing the F-150 to serve as a backup energy source during outages. Customers will also have the option to install solar and battery systems in their homes, promoting clean energy usage. Ford's F-150 reservations are now open with deliveries commencing in mid-2022.
Sunrun (RUN) reported 23,556 customer additions in Q1 2021, reaching a total of over 573,000 customers, representing an 18% year-over-year growth when adjusted for Vivint Solar. The company increased its full-year growth guidance to 25%-30% due to strong demand and expanding operations. Q1 net subscriber value is $8,197, generating a total value of $165 million. Sunrun's annual recurring revenue stands at $683 million with an average contract life of 17 years. Despite a net loss of $23.8 million for the quarter, they expect significant long-term growth in the solar market.
Sunrun (Nasdaq: RUN) has released its fourth annual Impact Report, highlighting significant achievements in environmental, social, and governance (ESG) initiatives. Since its founding in 2007, Sunrun has prevented over 8.1 million metric tons of carbon pollution and generated nearly four gigawatts of solar energy. The company aims for net zero emissions by 2040 and plans to reduce transportation emissions significantly in five years. Financially, Sunrun serves 550,000 customers, reflecting an 18% growth, and has $9 billion in gross solar system assets.
Sunrun (Nasdaq: RUN) has nominated Sonita Lontoh for election as a Class III director at the upcoming annual stockholders' meeting on June 3, 2021. If elected, Lontoh will serve a three-year term. With over 20 years of experience, she brings expertise in innovation, marketing, and customer experience, having previously worked with HP Inc. and Siemens AG. The nomination aims to enhance the board’s ability to drive growth and innovation in solar energy, aligning with Sunrun’s mission of providing affordable, clean energy solutions.
Sunrun (Nasdaq: RUN) is set to release its Q1 2021 earnings report on May 5, 2021, after market close. A conference call will follow at 2:00 PM PT to discuss the results, accessible via the Sunrun Investor Relations website or by dialing 877-407-5989. Founded in 2007, Sunrun has become the leading home solar and energy services provider in the U.S., focusing on affordable solar energy solutions without upfront costs. Their battery storage solution, Brightbox, supports energy reliability for households while reducing dependency on pollution-heavy energy sources.
Sunrun (Nasdaq: RUN) has announced a successful securitization of leases and power purchase agreements, reaching a record low spread to benchmark rates. The transaction involves A-rated notes priced at a yield of 2.46%, improving the spread by 40 basis points from the previous record. With an initial balance of $201 million and an 80% advance rate, the notes back a diverse portfolio of over 16,686 solar rooftop systems across 17 states. The closing is expected by March 17, 2021, reflecting Sunrun's strong capital position and enhanced ability to raise funds.