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 (RUN) leads the residential clean energy sector with innovative solar-plus-storage solutions and subscription-based models. This page aggregates official announcements, financial disclosures, and strategic developments for stakeholders tracking the company's market position.
Access timely updates on Sunrun's technology innovations, grid resiliency programs, and partnerships with utilities/homebuilders. Investors will find earnings reports, operational milestones, and management insights alongside analysis of industry trends affecting the renewable energy market.
Key categories include quarterly financial results, new market expansions, energy storage advancements, and regulatory developments. All content is sourced from verified channels to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to Sunrun's evolving role in transforming residential energy consumption through affordable solar solutions and virtual power plant initiatives.
Sunrun (Nasdaq: RUN) reported robust financial results for Q4 and full year 2022, with total revenue reaching $609.2 million in Q4, a 40% year-over-year increase, and $2.32 billion for the full year, up 44%. Net Subscriber Value hit a record $16,569, while customer agreements revenue grew 21% to $242.3 million. Solar Energy Capacity Installed surpassed 275 MW in Q4. Early 2023 sales activities are up over 30% year-over-year. Sunrun's Annual Recurring Revenue exceeded $1 billion, bolstered by extensive operational efficiency and market leadership in solar energy solutions. Leadership changes were also announced as co-Founder Edward Fenster transitions to a strategic advisory role.
Sunrun and PG&E launched a groundbreaking Energy Efficiency Summer Reliability Program to support residential solar and battery systems in California. Up to 7,500 customers can participate, creating a virtual power plant (VPP) that will generate 30 megawatts of clean energy during peak demand from August to October 2023. Enrolled customers will receive $750 upfront and a free smart thermostat. This initiative aims to enhance grid reliability amid heightened energy demands and offers Sunrun a chance for incremental revenue through its management of the VPP services. The program was prompted by California's efforts to improve energy resilience following a State of Emergency declaration.
Sunrun Earnings Release Scheduled
Sunrun (Nasdaq: RUN) will release its fourth quarter and full-year 2022 earnings report on February 22, 2023, after the market closes. A conference call will follow at 1:30 PM PT, accessible via the Sunrun Investor Relations website or by phone. An audio replay and transcript will be available online afterward. Sunrun is a leading company in home solar, battery storage, and energy services, offering accessible clean energy solutions established in 2007.
Sunrun (Nasdaq: RUN) announced the closure of a $600 million non-recourse syndicated bank facility aimed at financing a 335 MW portfolio of leases and power purchase agreements. The financing includes a $575 million amortizing loan and a $25 million debt service reserve letter of credit, securing an advance rate exceeding 85% of contracted subscriber value, surpassing guidance of 75%-85%. This reflects Sunrun's strong asset performance and capital access, despite rising interest rates, positioning the company favorably for future growth.
Sunrun (RUN) reported strong Q3 2022 results, achieving a 44% year-over-year revenue increase to $631.9 million. Net Subscriber Value rose to $13,259, with Earning Assets reaching $5.1 billion, driven by a 21% growth in customer base to 759,937. Solar energy capacity installed was 255.8 megawatts. Despite challenges from hurricanes affecting sales, the company anticipates continued growth, projecting a 25% increase in installed solar capacity for the full year 2022.
Sunrun has been selected by Puerto Rico’s electric utility to establish a 17 megawatt virtual power plant (VPP), aimed at enhancing the island's energy stability and reducing costs.
This initiative will connect over 7,000 solar-plus-battery systems, lowering energy expenses and promoting a clean energy economy. Customers will receive compensation for sharing stored energy and will have backup power during outages.
The project, expected to commence in 2024, reflects a shift towards renewable energy in Puerto Rico, influenced by past climatic events and rising utility rates.
Sunrun (RUN) has unveiled a new branch office in Peoria, Illinois, marking its third location in the state. This expansion is expected to create hundreds of local jobs and enhance access to affordable solar energy for residents, particularly those served by Ameren, Illinois' second largest utility provider. Sunrun aims to address rising energy costs through its solar-as-a-service model. The company will also focus on expanding clean energy access to low-income communities via the Illinois Solar for All program.
Enel X Way has partnered with Sunrun (Nasdaq: RUN) to provide smart Level 2 electric vehicle (EV) charging stations, expanding Sunrun's home solar energy solutions. This collaboration aims to meet the rising demand for electric mobility, as projections indicate 26.4 million EVs on U.S. roads by 2030. Enel X Way’s chargers integrate with Sunrun's solar systems, promoting cost savings and enhancing energy management for customers. Select markets like California, New Jersey, and Vermont will offer these co-branded chargers, with nationwide availability expected in early 2023.
Sunrun has successfully operated a residential Virtual Power Plant (VPP) in New England, marking a significant industry milestone. This VPP allowed over 1.8 gigawatt-hours of solar energy to be shared back to the grid during peak demand hours (1-5 p.m.) from June to August, alleviating grid stress and minimizing reliance on polluting peaker plants.
This initiative emerged after winning a competitive bid with the ISO-NE, aiming to enhance local clean energy integration amid rising energy costs and inflation.
Sunrun (Nasdaq: RUN) announced it will release its third quarter 2022 earnings on November 2, 2022, after market close. A conference call will follow at 1:30 PM PT to discuss the results, accessible via its Investor Relations website or by phone. Sunrun, a leader in home solar and battery storage, aims to make clean energy accessible with innovative solutions and no upfront costs. For further info, visit www.sunrun.com.
