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.
East Bay Community Energy (EBCE) collaborated with Sunrun to support California's energy grid during recent extreme heat waves. Over 1,000 solar and battery customers from EBCE's Resilient Home Program collectively provided significant energy, helping to prevent rolling blackouts. From September 1-8, 2022, Sunrun delivered 1.1 gigawatt-hours back to the grid, with nearly 55 megawatt-hours from EBCE customers. This program not only improves grid resilience but also compensates participants for energy contributions, showcasing the value of distributed energy resources.
Sunrun CEO Mary Powell joined President Biden at The White House to celebrate the Inflation Reduction Act, which allocates $369 billion to combat climate change. Powell emphasized the role of clean energy systems in enhancing grid stability and affordability amidst rising electricity rates, which are nearly 16% higher than last year. She highlighted potential savings of up to $1,800 per year for households adopting solar energy. With 33% year-over-year growth in solar capacity, the IRA's tax incentives will likely boost demand for rooftop solar and battery storage.
Sunrun (Nasdaq: RUN) announced that over 17,000 customers provided more than 80 MW of stored solar energy capacity to California's electric grid during peak demand times, alleviating stress on the grid. This represents a 60% increase in capacity from the previous year. Sunrun's solar and battery systems not only support energy independence but also participate in emergency programs to minimize outages. The company claims its total capacity can equate to a nuclear power plant's output, emphasizing its contribution to clean energy and reducing reliance on fossil fuels.
Lunar Energy, founded in August 2020, has raised $300 million to transition homes to 100% clean energy. Backed by Sunrun (NASDAQ: RUN) and SK Group, Lunar has engineered its first product, a next-generation home battery system, and acquired Moixa, a leader in energy resource management. The company aims to empower homeowners with energy independence, reducing reliance on fossil fuels. With a growing team of nearly 250 employees, Lunar is set to release its product later this year, combining innovative hardware with Moixa's GridShare software for better energy management.
Sunrun reported record sales and significant growth in Q2 2022, with a 33% year-over-year increase in solar energy capacity installed. The company added 34,403 new customers, totaling 724,177, marking a 21% growth. Annual Recurring Revenue reached $917 million with a 17.6-year average contract life. Notably, Net Subscriber Value increased to $7,910. Despite a net loss of $12.4 million, strong demand and new offerings, including an electric vehicle charger, position Sunrun favorably for the future.
Sunrun has launched a new Level 2 electric vehicle (EV) charger, enhancing its suite of home energy management solutions. This initiative aims to enable customers to charge their EVs using solar power, tapping into the growing demand for electric vehicles. The 40-amp charger will be available starting September in select states, with nationwide rollout planned by year-end. With EV sales doubling in 2021 and a significant increase in home electricity consumption from EVs, this product promises cost savings and sustainability for consumers.
Sunrun (Nasdaq: RUN) has entered an exclusive agreement with SPAN to integrate smart electrical panels with its solar-plus-battery systems in Puerto Rico. This partnership aims to enhance energy management for residents, facilitating control over power distribution during outages and improving energy resilience. Following a history of electricity instability in Puerto Rico, this innovation allows users to extend backup power by up to 40% and offers real-time energy monitoring. Sunrun, a leading provider since 2018, continues to address the region's energy needs amidst rising utility costs.
Sunrun (Nasdaq: RUN) rebuts allegations made by short-seller Muddy Waters in a report dated July 28, 2022. The company defends its financial practices, asserting the independence and accuracy of its audit procedures and tax credit claims under IRS Section 48. Sunrun highlights that the appraisals for its solar systems adhere to industry best practices, countering Muddy Waters' claims of misrepresentation. Since the report's release, Sunrun's stock has risen by 27%, outperforming its competitors and the broader market.
Sunrun (Nasdaq: RUN) has announced its readiness to support the U.S. energy grid by utilizing its installed battery capacity of over 150 MW. This capacity can help mitigate the impact of grid shortages and blackouts during peak demand periods. Major energy operators like ERCOT and MISO are warning of potential shortages this summer, prompting Sunrun to encourage the use of residential solar and battery systems to enhance grid reliability. This initiative has already demonstrated effectiveness, with solar and battery systems providing over 300 MW during California's past blackouts.
