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Sunrun Inc - RUN STOCK NEWS

Welcome to our dedicated page for Sunrun news (Ticker: RUN), a resource for investors and traders seeking the latest updates and insights on Sunrun stock.

Sunrun Inc. (Nasdaq: RUN) is a pioneering force in the residential solar energy market in the United States. Founded in 2007, the company revolutionized the industry by making home solar accessible and affordable through its innovative solar service model. By allowing homeowners to pay for the electricity generated rather than the solar panels themselves, Sunrun removes the substantial upfront costs that have traditionally been a barrier to solar adoption.

Sunrun's core business involves the design, development, installation, sale, ownership, and maintenance of residential solar energy systems. Homeowners can enter into long-term agreements, typically ranging from 20 to 25 years, ensuring low, locked-in rates for the electricity produced. This model not only saves customers money over time but also provides them with energy security and predictability.

In recent years, Sunrun has been at the forefront of integrating solar energy with battery storage solutions. The company now offers solar-plus-storage systems, enabling homeowners to store excess energy for use during power outages or peak demand times. This not only enhances energy resilience but also contributes to grid stability, as seen in Sunrun's prominent virtual power plant initiatives in places like Puerto Rico and California.

Sunrun's financial performance underscores its market dominance, with significant milestones achieved in the fourth quarter of 2023 and the first quarter of 2024. The company reported a net subscriber value of $13,445 and $11,891 respectively in these quarters, demonstrating strong customer value creation. Despite facing challenges, such as a net loss attributable to common stockholders of $350.1 million in Q4 2023 and $87.8 million in Q1 2024, Sunrun remains committed to driving positive cash generation and margin-focused strategies.

Partnerships play a crucial role in Sunrun's growth strategy. The company collaborates with various solar and strategic partners to expand its customer base and enhance service offerings. Recent achievements include raising over $3 billion in capital in early 2024 and participating in significant projects like PowerOn Puerto Rico and the CalReady program in California.

Sunrun's commitment to environmental sustainability is evident in its efforts to reduce carbon emissions through its solar deployments. The company's systems have offset millions of metric tons of CO2, underlining its role in combating climate change while providing clean, affordable, and reliable energy to families across America.

News

Sunrun and PG&E Complete First Season of Innovative Residential Distributed Power Plant

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Sunrun and Pacific Gas and Electric Company (PG&E) formed a first-of-its-kind partnership to provide consistent, reliable clean energy to California's power grid through home solar-plus-storage systems. The Energy Efficiency Summer Reliability Program, also known as Peak Power Rewards, involved nearly 8,500 solar-plus-storage residential systems peaking at 32 megawatts. Sunrun managed the fleet of home batteries to provide power to PG&E, achieving an average of 27 megawatts during peak hours for over 90 consecutive days. The program was operational within six months of contract signature, achieving a customer participation rate and power supply volume never before accomplished. Enrolled customers received an upfront payment of $750 and a free smart thermostat for participating. PG&E is the nation's utility leader in both rooftop solar and behind-the-meter storage, with nearly 820,000 customers connected to the electric grid with rooftop solar and nearly 75,000 customers having installed and connected storage systems to the grid in PG&E's service area. Sunrun is the nation's largest provider of distributed power plant programs and is exploring future programs with PG&E.
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Sunrun Multifamily Rooftop Solar Installation Cuts Energy Bills for 100 Low-Income Homes

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Sunrun (Nasdaq: RUN) partners with SOMAH, St. Mary’s Elderly Housing Corporation, and Asian Pacific Environmental Network to install a new rooftop solar system at St. Mary’s Gardens, an affordable housing community in Oakland, California. The solar panels will offset two-thirds of the community's energy usage, providing residents with clean energy and immediate monthly savings.
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Sunrun Announces Conference Call Details to Discuss the Fourth Quarter and Full-year 2023 Results

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Sunrun (Nasdaq: RUN) will release its fourth quarter and full-year 2023 earnings report on February 21, 2024, followed by a conference call to discuss the results. The company also issued a statement celebrating the milestones and environmental impact of its customer base in 2023, including the addition of 110,285 solar-only homes and 28,227 solar + battery storage homes. However, investors are advised not to rely on these figures or view them as comparable to key operating metrics disclosed in the company's materials.
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Sunrun Provides Affordable Housing Community with Clean Energy Savings and Price Stability

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Sunrun (Nasdaq: RUN) partners with BLDG Partners, the Foundation for Affordable Housing, the City of Orange, and Southern California Edison to install one of California's largest affordable housing solar systems at The Knolls, providing monthly energy savings for 260 apartment homes averaging $60 per month per family through virtual net metering. The 646-kilowatt solar system is projected to save over $6 million for low-income residents over the next 20 years.
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Sunrun Reports Third Quarter 2023 Financial Results

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Sunrun, the leading provider of residential solar, storage, and energy services, reported strong financial results for Q3 2023. Key highlights include a 131% YoY growth in storage capacity installed, storage attachment rates exceeding 40% nationally, and solar energy capacity installed reaching 258.2 Megawatts. The company also announced the launch of a premium add-on storage offering and completed a record-setting $715 million securitization of residential solar and battery systems. Sunrun is transitioning to a storage-first company and lowering its full-year growth guidance for solar capacity installed.
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Sunrun Launches Premium Add-On Storage Offering In California, Maximizing the Value of Solar Energy

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Sunrun, the leading provider of clean energy as a subscription service, has launched a new add-on storage offering for California solar customers. With storage, solar customers can power through outages, shift solar energy consumption to evening use, and enhance grid reliability. More than 85% of Sunrun's new sales in California now include a battery. The offering uses a premium battery product that seamlessly integrates with customers' existing solar panels, providing backup power during outages and allowing customers to maximize their use of solar energy. Customers can also enroll in Sunrun's distributed power plant programs to support the grid and be compensated for sharing their stored solar energy.
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Deceptive Short Seller Muddy Waters Once Again Has Its “Facts” Wrong

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Sunrun responds to deceptive report by short-seller Muddy Waters, clarifying inaccuracies in their comparison of data. Sunrun stands behind its reporting of metrics and emphasizes that EIA data has no bearing on tax credit determinations or reporting to investors. Muddy Waters also demonstrates a lack of understanding of GAAP accounting for leased systems. Sunrun maintains its commitment to operating with integrity.
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Fast Company Names Sunrun a Brand That Matters

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Sunrun recognized on annual list of companies and nonprofits that have built cultural relevance and impact through compelling branding and efforts that naturally extend their presence into communities.
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Sunrun Announces Date and Conference Call Details for Third Quarter 2023 Earnings Report

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Sunrun to release Q3 2023 earnings report on Nov 1, 2023. Conference call scheduled at 2:00 p.m. PT. Access via website or phone. Audio replay and transcript available.
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Sunrun Closes $715 million Senior Securitization of Residential Solar & Battery Systems and Raises $253 million of Additional Subordinated Financing

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Sunrun closes securitization of solar-as-a-service offering and raises additional financing
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FAQ

What is the current stock price of Sunrun (RUN)?

The current stock price of Sunrun (RUN) is $10.51 as of November 22, 2024.

What is the market cap of Sunrun (RUN)?

The market cap of Sunrun (RUN) is approximately 2.4B.

What does Sunrun Inc. do?

Sunrun Inc. designs, develops, installs, sells, owns, and maintains residential solar energy systems. They offer solar energy through long-term agreements with homeowners, ensuring affordable and predictable energy costs.

How does Sunrun's solar service model work?

Sunrun's solar service model allows homeowners to pay for the electricity generated by solar panels rather than the panels themselves. This removes the upfront cost barrier and provides long-term savings with low, locked-in electricity rates.

What are Sunrun's recent financial highlights?

In Q4 2023, Sunrun reported a net subscriber value of $13,445, and in Q1 2024, the net subscriber value was $11,891. Despite net losses in both quarters, the company is focused on positive cash generation and margin improvement.

What are Sunrun's key projects?

Key projects include PowerOn Puerto Rico and the CalReady program in California. These initiatives leverage Sunrun's solar-plus-storage systems to enhance grid stability and provide clean, reliable energy.

How does Sunrun contribute to environmental sustainability?

Sunrun's solar energy systems have significantly reduced carbon emissions. The company's deployments are estimated to offset millions of metric tons of CO2, helping combat climate change.

What are the benefits of Sunrun's solar-plus-storage systems?

These systems allow homeowners to store excess solar energy for use during outages or peak times, enhancing energy resilience and contributing to grid stability.

Who are Sunrun's co-founders?

Sunrun was co-founded in 2007 by Ed Fenster and Lynn Jurich, who aimed to make home solar mainstream by removing financial barriers.

How does Sunrun acquire customers?

Sunrun acquires customers directly and through relationships with various solar and strategic partners, expanding its reach and service offerings.

What is Sunrun's market position?

Sunrun is the nation’s leading provider of residential solar, storage, and energy services, known for innovative products and a strong market presence.

What is Sunrun's outlook for 2024?

Sunrun expects strong growth in installation activities and is focused on driving meaningful cash generation through margin-focused strategies and cost optimizations.

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Sunrun Inc

NYSE:RUN

RUN Rankings

#1882 Ranked by Market Cap
N/A Ranked by Dividends

RUN Stock Data

2.35B
218.72M
2.52%
111.27%
20.1%
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