Vistra Partners With Sunrun on Residential Battery Aggregation Program

Rhea-AI Summary

Vistra (NYSE: VST) has announced a new partnership with Sunrun (Nasdaq: RUN) to launch the TXU Energy & Sunrun Battery Rewards program in Texas. This initiative aims to support grid reliability by aggregating power from residential solar-connected batteries, creating a virtual power plant. TXU Energy customers with Sunrun home solar panels and batteries can opt in to receive financial incentives for participating, while retaining control of their systems during outages or severe weather.

The program builds on TXU Energy's existing solar buyback plans, which paid over $10 million in credits to customers last year. Sunrun, with its 1 million customers and 116,000+ installed storage systems, will manage the network of batteries and coordinate power discharge to the grid. This partnership expands Vistra's distributed energy initiatives and continues its tradition of pioneering energy-efficiency solutions in Texas.

Positive

• Partnership with Sunrun to create a virtual power plant, potentially increasing grid reliability
• Financial incentives for TXU Energy customers who participate in the program
• Expansion of Vistra's distributed energy initiatives
• Leveraging Sunrun's expertise with 1 million customers and 116,000+ installed storage systems
• Building on successful solar buyback plans, which paid over $10 million in credits last year

Negative

• None.

Program will utilize the collective power of solar-plus-battery storage systems during times of peak demand

IRVING, Texas, Sept. 11, 2024 /PRNewswire/ -- Vistra (NYSE: VST) today announced a new program for homeowners in partnership with Sunrun (Nasdaq: RUN) to support grid reliability for Texans. Through Vistra's flagship retail electricity brand, TXU Energy, the TXU Energy & Sunrun Battery Rewards program will aggregate power stored in residential, solar-connected batteries, forming a virtual power plant to dispatch energy back to the grid when it's needed the most.

TXU Energy customers who opt into the program and have installed Sunrun home solar panels and batteries will receive financial incentives for their participation while retaining control of their systems during power outages or severe weather conditions. These customers can also continue to benefit from TXU Energy's solar buyback plans, which credit solar energy system owners for the electricity they add to the grid.

"Since we introduced solar net metering to Texans 15 years ago, rooftop solar has seen significant growth, marked by over $10 million in solar buyback credits paid to our customers last year alone," said Sam Sen, Vistra's vice president of energy transition solutions. "With the growing population and increasing demand on the grid, harnessing the collective power of home solar panels and batteries is an important expansion of our distributed energy initiatives."  

In partnership with TXU Energy, Sunrun will network customers' batteries together and seamlessly manage the discharging of stored solar power to the grid.

With one million customers and more than 116,000 installed storage systems, Sunrun has a proven track record of incentivizing customers to support local power grids. Sunrun operates more than a dozen power plants across the country, including the largest single-owner virtual power plant program.

"We are excited to partner with Vistra to bring Sunrun's virtual power plant expertise to Texas," said Sunrun CEO Mary Powell. "Pairing residential batteries with solar is a smart choice in the Lone Star State and this program makes the decision even more financially rewarding. Our customers take pride in self-generation and sharing their energy with their community to help the overall power grid."

Vistra has pioneered energy-efficiency initiatives such as the first-to-Texas connected thermostat solution and the popular TXU Energy Free Nights and Solar Days plan. With this program, Vistra continues to give customers innovative ways to control their energy usage and participate in a responsible energy transition.

For more information about the TXU Energy & Sunrun Battery Rewards program, please visit txu.com.

About Vistra
Vistra (NYSE: VST) is a leading Fortune 500 integrated retail electricity and power generation company that provides essential resources to customers, businesses, and communities from California to Maine. Based in Irving, Texas, Vistra is a leader in the energy transformation with an unyielding focus on reliability, affordability, and sustainability. The company safely operates a reliable, efficient, power generation fleet of natural gas, nuclear, coal, solar, and battery energy storage facilities while taking an innovative, customer-centric approach to its retail business. Learn more at vistracorp.com.

 

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SOURCE Vistra Corp

FAQ

What is the TXU Energy & Sunrun Battery Rewards program announced by Vistra (VST)?

The TXU Energy & Sunrun Battery Rewards program is a new initiative by Vistra that aggregates power from residential solar-connected batteries to form a virtual power plant, supporting grid reliability in Texas. Participating TXU Energy customers with Sunrun solar panels and batteries receive financial incentives.

How does the Vistra (VST) and Sunrun partnership benefit Texas homeowners?

The partnership allows TXU Energy customers with Sunrun solar panels and batteries to receive financial incentives for participating in the program. They retain control of their systems during outages and can continue to benefit from TXU Energy's solar buyback plans.

What is Sunrun's role in Vistra's (VST) new battery aggregation program?

Sunrun will network customers' batteries together and manage the discharging of stored solar power to the grid. With its experience operating virtual power plants across the country, Sunrun brings expertise in incentivizing customers to support local power grids.

How much did Vistra (VST) pay in solar buyback credits to customers in the previous year?

Vistra paid over $10 million in solar buyback credits to its customers in the year prior to the announcement of the new battery aggregation program.