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.
Sunrun (Nasdaq: RUN) has partnered with GRID Alternatives to offer free battery systems to low-income customers in wildfire-prone areas of California. Funded through California’s Self-Generation Incentive Program, this initiative aims to enhance energy security amid increasing blackouts. Recipients will receive a home battery storage system along with ten years of monitoring. This program, which specifically targets underserved communities, emphasizes energy equity and allows families to mitigate power outages effectively.
On August 18, 2020, Sunrun (Nasdaq: RUN) and Vivint Solar announced a Stock Purchase Agreement where Coatue US 24 LLC acquired 11,627,907 shares of Vivint Solar for $21.50 per share, totaling approximately $250 million. Coatue agreed to vote its newly acquired shares in favor of the Sunrun-Vivint Solar merger and entered a 120-day lock-up agreement on the shares. Importantly, neither company sold shares nor will they benefit from this transaction financially.
Sunrun (Nasdaq: RUN) has partnered with SK E&S to co-invest in a new venture aimed at electrifying homes. This partnership will leverage Sunrun's extensive customer base and its solar and battery technology. They plan to invest $150 million initially, with equal ownership. SK E&S will purchase $75 million of Sunrun common stock at $36.15 per share, reflecting a commitment to expand renewable energy solutions. The venture aims to enhance the adoption of renewable energy and transitions to a smarter energy system.
Sunrun (Nasdaq: RUN) announced its second quarter 2020 earnings report will be released on August 10, 2020, after market closure. A conference call will follow on the same day at 2:00 p.m. PT, accessible via Sunrun's Investor Relations website or by phone. Sunrun, a leader in home solar and energy services, focuses on providing clean energy solutions with innovative products like Brightbox, which offers reliable and affordable energy storage. More details can be found at Sunrun's official website.
Sunrun (NASDAQ: RUN) has announced its acquisition of Vivint Solar (NYSE: VSLR) in an all-stock deal valued at $9.2 billion. Each Vivint share will convert to 0.55 Sunrun shares, giving Vivint shareholders a 36% stake in the combined entity. With almost 500,000 customers and over 3 gigawatts of solar assets, this merger aims to enhance operating efficiencies and deliver annual cost synergies of approximately $90 million. The transaction, expected to close in Q4 2020, will provide Sunrun with a significant direct-to-home sales channel, boosting its market presence and scaling opportunities.
Sunrun (Nasdaq: RUN) and Orange & Rockland have gained approval from the New York Public Service Commission to implement a virtual power plant project. This initiative will use Sunrun's Brightbox battery systems to store and provide solar energy to support the local electricity grid. As part of this program, Sunrun will earn compensation for managing the energy delivery, benefiting O&R by alleviating grid strain. Customers will have access to discounted clean energy sourced from Sunrun’s rooftop solar systems and battery storage, enhancing energy resilience in the region.
Sunrun (Nasdaq: RUN) has announced the appointment of Derek Noble as Vice President of Channel Partners, effective June 1. Noble, who has over 25 years of experience, aims to reinforce Sunrun's partnerships in the solar market at a time when consumer demand for stable energy solutions is rising due to COVID-19. He previously led channel operations at SunPower, contributing to its significant growth. Sunrun's leadership perceives this move as crucial for advancing their channel partner business and enhancing their service offerings amidst current market challenges.
Sunrun (Nasdaq: RUN) has announced the launch of its Brightbox rechargeable solar battery system in Colorado and Nevada. Customers in Xcel Energy’s and NV Energy’s territories can acquire Brightbox with zero down payment and a low monthly fee. Co-founder Lynn Jurich emphasized the need for reliable power during the pandemic. The Brightbox system stores solar energy and provides backup during outages, allowing customers to manage energy costs effectively. The introduction of Brightbox aligns with new electricity rate structures, promoting cleaner and resilient energy solutions for households.
Sunrun (Nasdaq: RUN) has announced a shift to a virtual-only 2020 Annual Meeting of Stockholders due to COVID-19 safety measures. The meeting is scheduled for June 2, 2020, at 8:30 a.m. PT. Stockholders as of the record date, April 8, 2020, can attend the meeting online using a control number. Sunrun urges stockholders to vote in advance, regardless of attendance plans. The company continues to focus on making solar energy accessible with its innovative Brightbox battery solution, promoting reliable and resilient energy for households.
Sunrun (Nasdaq: RUN) reported Q1 2020 results with total revenue reaching $210.7 million, an 8% increase year-over-year. The company’s customer base expanded to 298,000, marking a 23% year-over-year growth. Net Earning Assets rose to $1.6 billion, up 12% year-over-year. Key metrics include a 13% increase in Megawatts Deployed (97 MW) and decreased Creation Cost per watt (from $3.46 to $3.09, an 11% improvement). Despite these positive metrics, the net loss was $28 million or $0.23 per share.