Sunrun Accelerates Momentum In Its New Homes Business With Addition of Two Top Industry Leaders
Rhea-AI Summary
Sunrun (Nasdaq: RUN), the leading provider of clean energy subscriptions, has announced a strategic investment in its new homes division by hiring two top industry leaders, Matt Brost and Ellen Struck. Both executives bring extensive experience from SunPower, where they led the largest new homes solar business in the U.S. This move aims to accelerate the growth of solar and storage installations in new construction and capitalize on Sunrun's market-leading platform across multiple segments.
Brost and Struck collectively bring over four decades of experience in the energy and solar industries. Sunrun's CEO, Mary Powell, expressed excitement about the potential impact of these additions on the company's growth and customer service. The company's focus on partnering with home builders to offer solar-plus-storage systems to new home buyers is part of its broader strategy to maintain strong market leadership across various segments, including its dealer business.
Positive
- Hiring of two experienced industry leaders to accelerate growth in new homes division
- Strategic investment to expand solar and storage installations in new construction
- Strong market leadership across multiple segments, including dealer business
- Growing new home construction pipeline
- Installation capacity and network to accommodate rapid growth
Negative
- None.
News Market Reaction
On the day this news was published, RUN declined 0.06%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Sunrun announces strategic investment in its new homes division with the hiring of top industry leaders that will help accelerate the growth of solar and storage installations on new construction and capitalize on Sunrun’s strong, market-leading platform across multiple segments
SAN FRANCISCO, July 22, 2024 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, announced today that Matt Brost and Ellen Struck will join the company as Vice Presidents in its new homes division. Brost and Struck most recently worked at SunPower, where they led the largest new homes solar business in the country, and together they have more than four decades of experience in the energy and solar industries. Sunrun’s new homes business has been a strong strategic growth route for years, and this continued investment and leadership team expansion position Sunrun to lead the industry and accelerate momentum in this segment.
“By welcoming Ellen and Matt to Sunrun, we are adding tremendous strength to our already amazing new homes team, and I can’t wait to watch as Sunrun accelerates our impact on customers and communities around the country with their leadership,” said CEO Mary Powell. “Sunrun has been leading the way in California and other key markets across the country, and this acquisition of seasoned talent sends a clear message to home builders that we are investing in our program and continuing to scale.”
Brost joins Sunrun with 28 years of experience in the energy industry. He most recently served as Vice President of New Home Sales at SunPower, where he established partnerships with many top U.S. builders and completed over 125,000 new solar homes during his 18-year career at SunPower. He holds a bachelor's degree in environmental design and building science from Sonoma State University.
Struck brings over 16 years of energy and solar industry experience to Sunrun. Most recently, she served as Vice President of Channel Operations at SunPower, showcasing her expertise and leadership in the new homes field as she helped scale the operations through a fivefold increase in annual install volume over four years. She holds an MBA from Northwestern University and a Bachelor of Business Administration from the University of North Carolina.
The addition of top talent underscores Sunrun’s focus on partnering with home builders to offer solar-plus-storage systems to new home buyers. The strategy is part of Sunrun’s broader momentum of strong market leadership across multiple segments, including its dealer business.
“Dealers and homebuilders are attracted to Sunrun’s 17-year track record of strong performance and demonstrated stability,” Powell added. “We are a customer-obsessed organization, and we extend our best-in-class experience to our business partners, ensuring that we grow together as we help households embark on their clean energy journeys.”
Sunrun has been growing its new home construction pipeline and looks forward to working with additional home builders and dealers that meet Sunrun’s quality standards and strategic alignment. Sunrun is the industry leader with nearly one million customers. Sunrun has the installation capacity and network of branches to accommodate a quick pace of growth.
“We are rapidly growing our new homes channel and investing in our relationships with builders across the country,” said Paul Dickson, Sunrun’s President and Chief Revenue Officer. “Sunrun’s thoughtful management approach and capital structure enable us to take full advantage of shifts in the industry and market conditions to accelerate our continued growth and cash generation.”
About Matt Brost
Matt Brost joins Sunrun with 28 years of experience in the energy industry and 18 years in home building. Most recently, he served as Vice President of Sales for SunPower’s new homes division, leading the sales channel focused on residential developers and builders. Before this, Matt held the position of Senior Director of Sales Americas, New Homes, at SunPower. During his 18-year tenure at SunPower, Matt worked to boost energy efficiency and solar adoption among home builders and developers, establishing partnerships with many top U.S. builders and completing over 125,000 new solar homes. Prior to SunPower, Matt co-owned a business and served as Vice President at RLW Analytics, specializing in energy consulting for gas and electric utility companies nationwide. He holds a bachelor's degree in environmental design and building science from Sonoma State University.
About Ellen Struck
Ellen Struck brings over 16 years of energy and solar industry experience to Sunrun. Most recently, she served as Vice President of Channel Operations at SunPower, where she led a team dedicated to delivering outstanding service to the company’s builder customers and new home buyers. Prior to this role, Ellen advanced through various positions within SunPower’s new homes division, showcasing her expertise and leadership in the field. Before her tenure at SunPower, Ellen worked as the Director of Business Development for the energy and industrial systems business at Underwriter’s Laboratories (UL), where she played a key role in simplifying how companies bring safe products to market. Ellen holds an MBA from Northwestern University and a Bachelor of Business Administration from the University of North Carolina.
About Sunrun
Sunrun Inc. (Nasdaq: RUN) revolutionized the solar industry in 2007 by removing financial barriers and democratizing access to locally-generated, renewable energy. Today, Sunrun is the nation’s leading provider of clean energy as a subscription service, offering residential solar and storage with no upfront costs. Sunrun’s innovative products and solutions can connect homes to the cleanest energy on earth, providing them with energy security, predictability, and peace of mind. Sunrun also manages energy services that benefit communities, utilities, and the electric grid while enhancing customer value. Discover more at www.sunrun.com
Media Contact
Wyatt Semanek
Director, Corporate Communications
press@sunrun.com
Investor & Analyst Contact
Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
investors@sunrun.com
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