Sunrun Inc - RUN STOCK NEWS

Sunrun (Nasdaq: RUN) announced the appointment of Manjula Talreja, a seasoned executive with over 25 years in customer experience, to its board of directors. Talreja, previously Chief Customer Officer at PagerDuty, brings a wealth of expertise in digital transformation and customer loyalty. Sunrun's CEO, Mary Powell, expressed enthusiasm for Talreja’s potential impact as the company expands its offerings in the clean energy sector.

Talreja's experience includes significant roles at Salesforce and Cisco, reinforcing Sunrun's focus on enhancing customer engagement and operational efficiency.

Sunrun expresses concern over the California Public Utility Commission's (CPUC) Proposed Decision regarding fixed fees for solar customers, stating it contradicts state goals for climate change and energy reliability. The average fixed fee of $700 could result in significant job losses within the solar industry and push customers towards self-consumption systems, complicating energy management. Sunrun warns this could exacerbate pollution and blackouts, undermining consumer trust and hindering innovation in the solar market.

Sunrun has partnered with The Honnold Foundation to launch a new Innovation Fund, aiming to raise at least $1 million over the next 12 months for solar energy projects in underserved communities globally.

This initiative will support grassroots organizations addressing social and economic disparities through solar energy, with Sunrun contributing $50,000 as a match for other donations. Applications for funding will open in January 2022, extending opportunities from the earlier Community Fund established in September 2020.

Sunrun (RUN) reported a strong Q3 2021, with 30,698 new customers, totaling 630,441, marking a 20% annual growth. The company achieved an Annual Recurring Revenue of $787 million and a Net Subscriber Value of $7,605. Despite supply chain challenges, Sunrun's solar energy capacity reached 4.5 GW. Revenue soared to $438.8 million, up 109% from Q3 2020. However, total costs rose significantly, impacting net income to $24.1 million, or $0.11 per share. Sunrun anticipates continued growth, with a 30% increase in installed capacity projected for the year.

Sunrun (Nasdaq: RUN) has announced an expansion of its program with SPAN, integrating smart home electrical panels into its home solar and battery offerings. This initiative aims to enhance customer experience and streamline the adoption of clean energy solutions by reducing installation hurdles associated with outdated electrical panels. Approximately 40% of energy emissions stem from fossil fuel appliances, making electrification increasingly critical for consumers. The upgraded panels will allow improved energy management and resilience, supporting the transition to cleaner energy sources.

Sunrun (Nasdaq: RUN) will release its third quarter 2021 earnings report after market closure on November 4, 2021. A conference call is scheduled for 2:00 p.m. PT the same day to discuss the results. Investors can access the call via the Sunrun Investor Relations website or by phone. Sunrun is a leader in home solar, battery storage, and energy services, aiming to make clean energy accessible with innovative solutions like Brightbox, its home battery system.

Sunrun (RUN) has announced an expansion of its non-recourse warehouse lending facility to $1.8 billion, up from $800 million. This move is designed to support the company's growth while reducing financing costs by 50 basis points to 200 basis points over LIBOR. The financing facility will be available until April 2024, maturing in April 2025. Sunrun aims to enhance its capital structure and improve financial returns by investing in solar and battery systems, benefiting homeowners with affordable energy solutions. The announcement follows the retirement of older facilities totaling $982 million.

Sunrun (Nasdaq: RUN) announced a successful securitization of leases and power purchase agreements, achieving record low costs of capital and over 100% advance rates on Gross Earning Assets. The Class A notes, totaling $447.1 million, were priced at a 2.28% yield, with a significant improvement in spreads. Sunrun raised additional subordinated financing, enhancing cash flow despite high capital expenditures. The company reported GEA and CGEA metrics reflecting strong cash flow expectations, indicating ongoing growth and stability in the solar market.