Sunrun Installs Solar Projects at Three Affordable Apartment Communities in Southern California, Providing Energy Bill Savings to 800 Renters

Rhea-AI Summary

Sunrun (Nasdaq: RUN) has completed solar installations at three affordable apartment communities in Orange County, California, benefiting approximately 800 low-income residents. The projects, located at Arroyo Vista, Villa Plumosa, and Yorba Linda Palms, will generate 748 kilowatts of electricity, offsetting 80-90% of the communities' energy usage.

Through virtual net metering, residents at Arroyo Vista receive about $60 in monthly energy savings, with Villa Plumosa residents saving similarly, while Yorba Linda Palms residents will save over $75 monthly when operational this summer. The Arroyo Vista installation alone is projected to save residents over $3.5 million on electric bills over 20 years.

The projects were funded through the Solar On Multifamily Affordable Housing (SOMAH) program and Low-Income Communities Investment Tax Credit (ITC) program, requiring no cost from residents. Sunrun currently serves more than 21,000 households in low-income multifamily properties.

Positive

• Installation will offset 80-90% of communities' energy usage
• Residents save $60-75 monthly on energy bills
• Arroyo Vista project projected to save residents $3.5M over 20 years
• No cost to residents due to SOMAH and ITC program funding

Negative

• None.

Officials join Republican U.S. Representative Young Kim for ribbon cutting event to celebrate new solar projects at low-income apartment communities in Orange County that provide immediate utility bill savings to hundreds of working families

SAN FRANCISCO, April 28, 2025 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, today announced three new solar installations at affordable apartment communities in Orange County, California. Collectively, the new rooftop solar projects will provide monthly utility bill savings to approximately 800 low-income residents.

Sunrun installed the solar systems in partnership with affordable housing providers at Arroyo Vista, Villa Plumosa, and Yorba Linda Palms apartment complexes. In total, the systems will provide 748 kilowatts of electricity, offsetting approximately 80% to 90% of the communities’ energy usage. All three projects are located in California’s 40th Congressional District, which U.S. Rep. Young Kim represents.

“Rooftop solar energy in affordable housing communities I represent lowers utility bills for hardworking families struggling with rising living costs, creates local jobs here at home, and promotes U.S. energy dominance around the world,” said Rep. Young Kim. “I appreciate Sunrun’s work in our Southern California communities and will keep doing all I can to make life more affordable.”

To commemorate the three projects, Sunrun executives joined Rep. Kim, other state and county elected officials, and Eden Housing’s CEO for a ribbon cutting event at the recently completed 1,120 solar panel installation at Arroyo Vista apartment complex in Mission Viejo.

“We are so proud to be cutting energy bills for hundreds of hard-working residents in Southern California,” said Sunrun President and Chief Revenue Officer Paul Dickson. “This project is another example of how Sunrun is making solar energy—and the resulting savings—available to homeowners and renters of all income levels.”

Through virtual net metering, each of the 156 apartment homes at Arroyo Vista is receiving approximately $60 in monthly energy bill savings.

“Affordable housing is deeply needed in this part of Southern California and we are grateful to partner with Sunrun to make Arroyo Vista even more affordable for our residents through energy bill savings,” said Linda Mandolini, president and CEO of Eden Housing. “Supporting clean energy while also helping families stretch their hard-earned dollars is a win-win collaboration for our communities.”

Due to energy inflation and three years of approved utility rate hikes for San Diego Gas & Electric, Arroyo Vista residents will likely save even more over time. Over the next 20 years, Sunrun’s solar installation at Arroyo Vista is projected to collectively save the low-income renters over $3.5 million on their electric bills.

“When you’re on a fixed income, every penny counts, which is why I was especially happy to see the $60 savings on my power bill each month,” said Arroyo Vista resident Lametrius Freeman. “It feels great to be saving money and helping the environment at the same time. We’re grateful that Eden Housing and Sunrun made it possible.”

The solar installation at the Villa Plumosa apartment complex, located in Yorba Linda, is also completed and operating, providing 76 affordable apartment homes with nearly $60 in monthly energy bill savings through virtual net metering. The new solar project at nearby Yorba Linda Palms will be operational this summer and will provide the complex’s 44 affordable apartment homes with over $75 in monthly energy savings.

The projects participated in the state’s Solar On Multifamily Affordable Housing (SOMAH) program and the Low-Income Communities Investment Tax Credit (ITC) program, allowing residents to enjoy the benefits of solar energy at no cost to them. State funding for the three projects comes from polluters who purchase greenhouse gas allowances under the state’s cap-and-trade program.

“SOMAH projects bring affordable, clean energy to hard working families who need it most, by significantly cutting monthly electricity bills,” said Lawrence Goldenhersh, President of the Center for Sustainable Energy, one of the SOMAH program administrators. “By lowering energy costs, we’re helping parents keep their homes running, care for their children, and protect their family’s health — creating lasting stability and opportunity for communities across California.”

Sunrun currently serves more than 21,000 households in low-income multifamily properties. The solar projects create economic activity in their respective communities through significant investments at the time of installation, employment, and the ongoing financial benefits provided to renters.

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

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/74b9767f-3acc-44a2-841b-7625790af8f4

https://www.globenewswire.com/NewsRoom/AttachmentNg/2de7b9c4-7029-485a-832b-fe1a7d294364

https://www.globenewswire.com/NewsRoom/AttachmentNg/c9760a53-6f61-4415-bd86-43cd863e6331

FAQ

How much will Sunrun's solar installations save Orange County affordable housing residents?

Residents will save $60-75 monthly on energy bills, with Arroyo Vista residents projected to save over $3.5 million collectively over 20 years.

What is the energy generation capacity of Sunrun's new California affordable housing projects?

The three solar installations will generate 748 kilowatts of electricity, offsetting 80-90% of the communities' energy usage.

How many residents benefit from Sunrun's new Orange County solar projects?

Approximately 800 low-income residents across three affordable apartment communities will benefit from the solar installations.

How are Sunrun's affordable housing solar projects funded in California?

The projects are funded through the Solar On Multifamily Affordable Housing (SOMAH) program and Low-Income Communities Investment Tax Credit (ITC) program, requiring no cost from residents.

How many low-income multifamily households does Sunrun currently serve?

Sunrun currently serves more than 21,000 households in low-income multifamily properties.