STOCK TITAN

Sunrun Builds and Operates New York’s Largest Residential Power Plant in Partnership with Orange and Rockland Utilities

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
partnership

Sunrun and Orange and Rockland Utilities have activated New York's largest residential power plant using over 300 solar-plus-storage systems. The project, approved by the NY State Public Service Commission, helped stabilize the electric grid during peak demand events this summer. Participating customers received free or heavily discounted home batteries in exchange for joining the 10-year program, while Sunrun receives upfront payments based on installed battery capacity. The systems provide backup power to homes while retaining 20% stored power during grid supply events. The program supports New York's clean energy transition and storage goals.

Sunrun e Orange e Rockland Utilities hanno attivato la più grande centrale elettrica residenziale di New York utilizzando oltre 300 sistemi di solare più stoccaggio. Il progetto, approvato dalla NY State Public Service Commission, ha contribuito a stabilizzare la rete elettrica durante i picchi di domanda di quest'estate. I clienti partecipanti hanno ricevuto batterie per la casa gratuite o fortemente scontate in cambio dell'adesione al programma decennale, mentre Sunrun riceve pagamenti anticipati basati sulla capacità delle batterie installate. I sistemi forniscono energia di backup alle abitazioni mantenendo il 20% di potenza immagazzinata durante gli eventi di fornitura della rete. Il programma supporta la transizione verso un'energia pulita e gli obiettivi di stoccaggio di New York.

Sunrun y Orange y Rockland Utilities han activado la planta de energía residencial más grande de Nueva York utilizando más de 300 sistemas de energía solar con almacenamiento. El proyecto, aprobado por la Comisión de Servicios Públicos del Estado de Nueva York, ayudó a estabilizar la red eléctrica durante los picos de demanda de este verano. Los clientes participantes recibieron baterías domésticas gratuitas o con grandes descuentos a cambio de unirse al programa de 10 años, mientras que Sunrun recibe pagos por adelantado basados en la capacidad de las baterías instaladas. Los sistemas proporcionan energía de respaldo a los hogares mientras retienen el 20% de la energía almacenada durante los eventos de suministro de la red. El programa apoya la transición de Nueva York hacia la energía limpia y los objetivos de almacenamiento.

Sunrun과 Orange와 Rockland Utilities가 뉴욕 최대의 주거용 발전소를 300개 이상의 태양광 스토리지 시스템을 사용해 활성화했습니다. NY주 공공 서비스 위원회에 의해 승인된 이 프로젝트는 이번 여름 피크 수요 시 전력망을 안정시키는 데 도움을 주었습니다. 참여 고객들은 10년 프로그램에 가입하는 대가로 무료 또는 대폭 할인된 가정용 배터리를 받았으며, Sunrun은 설치된 배터리 용량에 따라 선불금을 받습니다. 이 시스템은 가정에 백업 전력을 제공하며, 전력망 공급 이벤트 동안 20%의 저장 전력을 보유합니다. 이 프로그램은 뉴욕의 청정 에너지 전환 및 저장 목표를 지원합니다.

Sunrun et Orange et Rockland Utilities ont activé la plus grande centrale électrique résidentielle de New York avec plus de 300 systèmes solaires et de stockage. Le projet, approuvé par la Commission des services publics de l'État de New York, a aidé à stabiliser le réseau électrique pendant les pics de demande de cet été. Les clients participants ont reçu des batteries domestiques gratuites ou fortement remisées en échange de leur adhésion au programme de 10 ans, tandis que Sunrun reçoit des paiements anticipés basés sur la capacité des batteries installées. Les systèmes fournissent une énergie de secours aux foyers tout en conservant 20% de l'énergie stockée lors des événements d'approvisionnement du réseau. Le programme soutient la transition énergétique propre de New York et ses objectifs de stockage.

Sunrun und Orange und Rockland Utilities haben das größte Wohnkraftwerk New Yorks mit über 300 Solar-Plus-Speichersystemen aktiviert. Das Projekt, das von der NY State Public Service Commission genehmigt wurde, half, das Stromnetz während der Spitzenlastereignisse in diesem Sommer zu stabilisieren. Teilnehmende Kunden erhielten kostenlose oder stark rabattierte Batterien für das Zuhause im Austausch für die Teilnahme am 10-Jahres-Programm, während Sunrun im Voraus Zahlungen basierend auf der installierten Batteriekapazität erhält. Die Systeme bieten Notstromversorgung für Haushalte und halten während der Netzversorgungsevents 20% gespeicherte Energie bereit. Das Programm unterstützt den Übergang New Yorks zu sauberer Energie und den Zielen für Energiespeicherung.

Positive
  • Successfully activated 300+ solar-plus-storage systems creating NY's largest residential power plant
  • Secured 10-year program agreement with Orange and Rockland Utilities
  • Receives upfront payments from O&R based on battery capacity installed
  • Maintains position as largest developer with 1M+ customers and 116,000 storage systems
Negative
  • Battery systems must retain 20% capacity, limiting grid supply potential
  • Offering free or heavily discounted batteries may impact margins

Insights

This innovative virtual power plant (VPP) project represents a significant milestone in distributed energy resources integration. The deployment of 300+ solar-plus-storage systems creates New York's largest residential power plant, demonstrating the viability of residential-scale grid services. The 10-year program structure with upfront payments from O&R creates a sustainable business model while offering customers significant cost savings through free or discounted batteries.

The project's success in managing multiple peak demand events validates the technical feasibility of residential VPPs. With Sunrun's leading market position (1 million+ customers, 116,000 storage systems) and nearly 50% share of new home battery installations, this partnership establishes a replicable model for utility-scale distributed energy resource management. The program's alignment with New York's clean energy goals and grid reliability objectives positions it as a template for future utility partnerships.

This partnership demonstrates a strategic shift in utility business models, moving from traditional centralized power generation to distributed energy resource integration. For O&R and its parent ConEdison, the program offers a cost-effective way to manage peak demand without building new infrastructure. The performance-based payment structure aligns incentives between the utility, Sunrun and customers while creating a new revenue stream for residential solar participants.

The program's success in maintaining grid stability during peak events while ensuring customer backup power availability (20% minimum reserve) proves the feasibility of balancing grid and customer needs. This model could accelerate utility adoption of residential VPPs as a grid management tool, potentially expanding market opportunities for companies like Sunrun in the utility partnership space.

Innovative program is one of New York State’s first residential distributed power plants that supplies critical energy to the electric grid using rooftop solar paired with on-site batteries

PEARL RIVER, N.Y. and SAN FRANCISCO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, and Orange and Rockland Utilities, Inc. (O&R), a wholly owned subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation’s largest investor-owned energy companies, have successfully activated New York’s largest residential power plant using more than 300 solar-plus-storage systems. During dozens of peak electricity demand events this summer, the home batteries supplied stored solar energy to help stabilize the electric grid.

The Sunrun-managed power plant was initiated by O&R and approved as a demonstration project by the New York State Public Service Commission. The year-round program supports New York’s transition to clean and reliable energy and helps the state reach its nation-leading storage and electrification goals. Under this program, Sunrun synchronizes the discharging of the participating batteries to deliver stored solar power to reduce stress on the electric grid during times of peak energy usage. The solar-plus-storage systems also provide a source of backup power to the homes of participating customers.

“This is an important step toward the future of fortifying New York’s energy grid, utilizing innovation to build a more affordable and reliable way to deliver power. We are excited to see residents of New York benefit from the sharing of stored solar power and know this partnership with Orange and Rockland will show the path forward for the rest of the state,” said CEO of Sunrun, Mary Powell.

“The creation of this virtual power plant unlocks incredible benefits to the electric grid that will provide our customers with the clean and reliable energy that they expect and deserve,” said Andre Wellington, O&R director of Distributed Resource Integration. “Home solar-plus-storage is an innovative, flexible resource that can be called upon during times of stress on our electric system and O&R is happy to be part of this opportunity to advance New York State’s clean energy goals.”

Enrolled customers received a free or heavily discounted home battery in exchange for participating in the 10-year program to help the resiliency of the electric grid. Sunrun receives an upfront payment from O&R based on the battery capacity installed, which allows Sunrun to offer the battery for free or at a heavily discounted price to customers. Customers will also benefit from consuming their own stored solar power and from utility bill credits for the excess energy they supply to the electric grid. Even when O&R dispatches the batteries for load relief, customers’ batteries will still retain 20% or more of the stored solar power to provide their homes with backup power in the event of a local power outage.

“We quickly signed up once we learned that a Sunrun solar and battery system could protect our home from outages while also bolstering the grid for our community,” said Joseph Ortiz, a Sunrun and O&R customer in Rockland County. “It’s gratifying to know that—without us even lifting a finger—our home is supplying clean solar energy back to the grid to benefit everyone.”

With more than 1 million customers and 116,000 installed storage systems, Sunrun is the nation’s largest developer of residential clean energy systems. Sunrun is responsible for nearly half of all new home battery installations in the country. Sunrun operates more than a dozen power plants across the country, including the nation’s largest single-owner virtual power plant.

About Sunrun
Sunrun Inc. (Nasdaq: RUN) revolutionized the solar industry in 2007 by removing financial barriers and democratizing access to locally-generated, renewable energy. Today, Sunrun is the nation’s leading provider of clean energy as a subscription service, offering residential solar and storage with no upfront costs. Sunrun’s innovative products and solutions can connect homes to the cleanest energy on earth, providing them with energy security, predictability, and peace of mind. Sunrun also manages energy services that benefit communities, utilities, and the electric grid while enhancing customer value. Discover more at www.sunrun.com

About O&R
Orange and Rockland Utilities, Inc. (O&R), a wholly owned subsidiary of Consolidated Edison, Inc., one of the nation’s largest investor-owned energy companies, is a regulated utility. O&R provides electric service to approximately 300,000 customers in southeastern New York State and northern New Jersey (through its subsidiary Rockland Electric Company) and natural gas service to approximately 140,000 customers in New York State. Visit www.oru.com for more.

Sunrun Media Contact
Wyatt Semanek
Director, Corporate Communications
press@sunrun.com

Sunrun Investor & Analyst Contact
Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
investors@sunrun.com

O&R Media Contact
Vito Signorile
Manager, Media Relations
signorilev@oru.com


FAQ

How many solar-plus-storage systems does Sunrun (RUN) operate in New York's largest residential power plant?

Sunrun operates more than 300 solar-plus-storage systems in New York's largest residential power plant, in partnership with Orange and Rockland Utilities.

What incentives does Sunrun (RUN) offer customers in the O&R power plant program?

Sunrun offers free or heavily discounted home batteries to customers who participate in the 10-year program, plus utility bill credits for excess energy supplied to the grid.

How much battery capacity must Sunrun (RUN) maintain for backup power in the O&R program?

Sunrun must maintain at least 20% of stored solar power in batteries for home backup power during local outages, even when dispatching to the grid.

Sunrun Inc

NASDAQ:RUN

RUN Rankings

RUN Latest News

RUN Stock Data

3.10B
223.54M
2.54%
117.27%
20.17%
Solar
Miscellaneous Electrical Machinery, Equipment & Supplies
Link
United States of America
SAN FRANCISCO