Sunrun Inc. - $RUN STOCK NEWS

Sunrun and Pacific Gas and Electric Company (PG&E) formed a first-of-its-kind partnership to provide consistent, reliable clean energy to California's power grid through home solar-plus-storage systems. The Energy Efficiency Summer Reliability Program, also known as Peak Power Rewards, involved nearly 8,500 solar-plus-storage residential systems peaking at 32 megawatts. Sunrun managed the fleet of home batteries to provide power to PG&E, achieving an average of 27 megawatts during peak hours for over 90 consecutive days. The program was operational within six months of contract signature, achieving a customer participation rate and power supply volume never before accomplished. Enrolled customers received an upfront payment of $750 and a free smart thermostat for participating. PG&E is the nation's utility leader in both rooftop solar and behind-the-meter storage, with nearly 820,000 customers connected to the electric grid with rooftop solar and nearly 75,000 customers having installed and connected storage systems to the grid in PG&E's service area. Sunrun is the nation's largest provider of distributed power plant programs and is exploring future programs with PG&E.

Sunrun (Nasdaq: RUN) partners with SOMAH, St. Mary’s Elderly Housing Corporation, and Asian Pacific Environmental Network to install a new rooftop solar system at St. Mary’s Gardens, an affordable housing community in Oakland, California. The solar panels will offset two-thirds of the community's energy usage, providing residents with clean energy and immediate monthly savings.

Sunrun (Nasdaq: RUN) will release its fourth quarter and full-year 2023 earnings report on February 21, 2024, followed by a conference call to discuss the results. The company also issued a statement celebrating the milestones and environmental impact of its customer base in 2023, including the addition of 110,285 solar-only homes and 28,227 solar + battery storage homes. However, investors are advised not to rely on these figures or view them as comparable to key operating metrics disclosed in the company's materials.

Sunrun (Nasdaq: RUN) partners with BLDG Partners, the Foundation for Affordable Housing, the City of Orange, and Southern California Edison to install one of California's largest affordable housing solar systems at The Knolls, providing monthly energy savings for 260 apartment homes averaging $60 per month per family through virtual net metering. The 646-kilowatt solar system is projected to save over $6 million for low-income residents over the next 20 years.

Sunrun, the leading provider of residential solar, storage, and energy services, reported strong financial results for Q3 2023. Key highlights include a 131% YoY growth in storage capacity installed, storage attachment rates exceeding 40% nationally, and solar energy capacity installed reaching 258.2 Megawatts. The company also announced the launch of a premium add-on storage offering and completed a record-setting $715 million securitization of residential solar and battery systems. Sunrun is transitioning to a storage-first company and lowering its full-year growth guidance for solar capacity installed.

Sunrun, the leading provider of clean energy as a subscription service, has launched a new add-on storage offering for California solar customers. With storage, solar customers can power through outages, shift solar energy consumption to evening use, and enhance grid reliability. More than 85% of Sunrun's new sales in California now include a battery. The offering uses a premium battery product that seamlessly integrates with customers' existing solar panels, providing backup power during outages and allowing customers to maximize their use of solar energy. Customers can also enroll in Sunrun's distributed power plant programs to support the grid and be compensated for sharing their stored solar energy.

Sunrun responds to deceptive report by short-seller Muddy Waters, clarifying inaccuracies in their comparison of data. Sunrun stands behind its reporting of metrics and emphasizes that EIA data has no bearing on tax credit determinations or reporting to investors. Muddy Waters also demonstrates a lack of understanding of GAAP accounting for leased systems. Sunrun maintains its commitment to operating with integrity.

Sunrun recognized on annual list of companies and nonprofits that have built cultural relevance and impact through compelling branding and efforts that naturally extend their presence into communities.

Sunrun to release Q3 2023 earnings report on Nov 1, 2023. Conference call scheduled at 2:00 p.m. PT. Access via website or phone. Audio replay and transcript available.