Sunrun Inc Stock Price, News & Analysis

Sunrun (Nasdaq: RUN) announced it will release its third quarter 2022 earnings on November 2, 2022, after market close. A conference call will follow at 1:30 PM PT to discuss the results, accessible via its Investor Relations website or by phone. Sunrun, a leader in home solar and battery storage, aims to make clean energy accessible with innovative solutions and no upfront costs. For further info, visit www.sunrun.com.

East Bay Community Energy (EBCE) collaborated with Sunrun to support California's energy grid during recent extreme heat waves. Over 1,000 solar and battery customers from EBCE's Resilient Home Program collectively provided significant energy, helping to prevent rolling blackouts. From September 1-8, 2022, Sunrun delivered 1.1 gigawatt-hours back to the grid, with nearly 55 megawatt-hours from EBCE customers. This program not only improves grid resilience but also compensates participants for energy contributions, showcasing the value of distributed energy resources.

Sunrun CEO Mary Powell joined President Biden at The White House to celebrate the Inflation Reduction Act, which allocates $369 billion to combat climate change. Powell emphasized the role of clean energy systems in enhancing grid stability and affordability amidst rising electricity rates, which are nearly 16% higher than last year. She highlighted potential savings of up to $1,800 per year for households adopting solar energy. With 33% year-over-year growth in solar capacity, the IRA's tax incentives will likely boost demand for rooftop solar and battery storage.

Sunrun (Nasdaq: RUN) announced that over 17,000 customers provided more than 80 MW of stored solar energy capacity to California's electric grid during peak demand times, alleviating stress on the grid. This represents a 60% increase in capacity from the previous year. Sunrun's solar and battery systems not only support energy independence but also participate in emergency programs to minimize outages. The company claims its total capacity can equate to a nuclear power plant's output, emphasizing its contribution to clean energy and reducing reliance on fossil fuels.

Lunar Energy, founded in August 2020, has raised $300 million to transition homes to 100% clean energy. Backed by Sunrun (NASDAQ: RUN) and SK Group, Lunar has engineered its first product, a next-generation home battery system, and acquired Moixa, a leader in energy resource management. The company aims to empower homeowners with energy independence, reducing reliance on fossil fuels. With a growing team of nearly 250 employees, Lunar is set to release its product later this year, combining innovative hardware with Moixa's GridShare software for better energy management.

Sunrun reported record sales and significant growth in Q2 2022, with a 33% year-over-year increase in solar energy capacity installed. The company added 34,403 new customers, totaling 724,177, marking a 21% growth. Annual Recurring Revenue reached $917 million with a 17.6-year average contract life. Notably, Net Subscriber Value increased to $7,910. Despite a net loss of $12.4 million, strong demand and new offerings, including an electric vehicle charger, position Sunrun favorably for the future.

Sunrun has launched a new Level 2 electric vehicle (EV) charger, enhancing its suite of home energy management solutions. This initiative aims to enable customers to charge their EVs using solar power, tapping into the growing demand for electric vehicles. The 40-amp charger will be available starting September in select states, with nationwide rollout planned by year-end. With EV sales doubling in 2021 and a significant increase in home electricity consumption from EVs, this product promises cost savings and sustainability for consumers.

Sunrun (Nasdaq: RUN) has entered an exclusive agreement with SPAN to integrate smart electrical panels with its solar-plus-battery systems in Puerto Rico. This partnership aims to enhance energy management for residents, facilitating control over power distribution during outages and improving energy resilience. Following a history of electricity instability in Puerto Rico, this innovation allows users to extend backup power by up to 40% and offers real-time energy monitoring. Sunrun, a leading provider since 2018, continues to address the region's energy needs amidst rising utility costs.