Sunrun Inc - RUN STOCK NEWS

Freedom Forever has announced an enhanced partnership with Sunrun (NASDAQ: RUN) to strengthen solar and battery services over the next three years. This partnership aims to leverage Sunrun's industry-leading offerings to make renewable energy more accessible to American households. Freedom Forever, which has expanded from 7 to 20 states in 2020, will utilize Sunrun’s technology and brand reputation, offering no-money-down solar solutions. The collaboration is designed to accelerate growth in existing and new markets, promoting affordable energy solutions across the U.S.

The report by Vote Solar, the Coalition for Community Solar Access, and Sunrun highlights that developing 247 GW of local rooftop and community solar and 160 GW of local energy storage is the most cost-effective approach for the U.S. to transition to a clean energy system by 2050. This strategy could result in savings of up to $473 billion on electricity for consumers. The advanced modeling tool WIS:dom®-P indicates that scaling up local solar reduces grid costs and emissions, potentially creating over 2 million local jobs by 2050.

Sunrun has launched five environmental justice initiatives aimed at increasing access to solar energy and creating jobs in disadvantaged communities. Collaborating with organizations like Blacks in Green and GRID Alternatives, Sunrun plans to remove financial barriers to solar energy and provide no-cost solar programs for eligible families. By 2019, Sunrun and GRID installed 5 megawatts of solar for 1,178 low-income families, enabling $25 million in lifetime savings. Through these partnerships, the company seeks to advocate for social equity and promote career opportunities in the growing solar industry.

Sunrun (NASDAQ: RUN) has announced a new contract with Southern California Edison (SCE) to provide 5 MW of energy capacity through its Brightbox solar-powered battery systems by 2023. This initiative aims to enhance grid resilience and manage peak demand during high-stress events like heat waves. The project will also ensure that at least 10% of the capacity comes from low-to-moderate income households, promoting affordable energy access. Installations will begin in late 2020 and conclude by August 2023, enabling Sunrun to offer recurring revenue through virtual power plant services.

Sunrun (RUN) reported third-quarter results showing strong growth despite a slight revenue decline. The company deployed 109 MW, a 40% sequential increase, and expanded its customer base to 326,000, up 20% year-over-year. Net earning assets rose to $1.7 billion, increasing 15% annually. With the acquisition of Vivint Solar, Sunrun aims for $90 million in cost synergies. Total revenue was $209.8 million, down 3% year-over-year, but net income rose to $37.4 million, or $0.28 per share.

Sunrun Inc. (Nasdaq: RUN) has announced the expansion of its rechargeable home battery product, Brightbox, to all its active markets. This move is expected to provide millions of new potential customers access to the system, which has already powered essential needs for 7,583 hours during outages in 2020. Brightbox enables homeowners to maintain energy during blackouts and participate in community energy networks. Sunrun's expansion includes eight additional states and Washington, D.C., increasing its service area significantly.

Sunrun Inc. (Nasdaq: RUN) has reported a significant increase in homeowner interest in backup power sources amid the COVID-19 pandemic. A study reveals that 62% of homeowners have experienced heightened energy consumption, with nearly 40% seeking backup options due to power outages. Among those who faced outages, 25% reported disruptions lasting a day or more, impacting remote work and schooling. Californians are particularly affected, with 57% anticipating outages. The study indicates a strong demand for home solar and battery solutions to ensure energy reliability during these challenging times.

Sunrun (Nasdaq: RUN) will release its Q3 2020 earnings report on November 5, 2020, after market close. A conference call will be held at 2:00 p.m. Pacific Time to discuss the results, accessible via the Sunrun Investor Relations website or by phone. Sunrun, a leader in home solar and energy services, aims to make clean energy accessible with innovative solutions like its Brightbox battery storage system. The company also manages stored solar energy to enhance resilience and reduce reliance on non-renewable sources.

Sunrun has completed its acquisition of Vivint Solar, creating a clean energy leader valued at approximately $22 billion. The merger brings together over 500,000 customers and 3 gigawatts of solar energy capacity, positioning Sunrun as a top player in the solar market. With anticipated annual cost synergies of $90 million over the next 12 to 18 months, the companies aim to enhance their market reach and improve energy offerings. Sunrun will continue to operate under the ticker symbol RUN.