Sunrun Prevents Emission of More Than 8.1 Million Metric Tons of Carbon Pollution

Rhea-AI Summary

Sunrun (Nasdaq: RUN) has released its fourth annual Impact Report, highlighting significant achievements in environmental, social, and governance (ESG) initiatives. Since its founding in 2007, Sunrun has prevented over 8.1 million metric tons of carbon pollution and generated nearly four gigawatts of solar energy. The company aims for net zero emissions by 2040 and plans to reduce transportation emissions significantly in five years. Financially, Sunrun serves 550,000 customers, reflecting an 18% growth, and has $9 billion in gross solar system assets.

Positive

• Prevented over 8.1 million metric tons of carbon pollution, up 50% from the previous year.
• Serves 550,000 customers, an 18% year-over-year increase.
• Aims for net zero carbon emissions by 2040.
• Plans to deliver 500 megawatts of solar to lower-income communities by 2030.
• Generated 11.4 billion kilowatt-hours of clean energy since 2007.

Negative

• None.

Annual Impact Report highlights Sunrun’s environmental, social and governance (ESG) leadership

SAN FRANCISCO, April 22, 2021 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation’s leading home solar, battery storage, and energy services provider, has prevented more than 8.1 million metric tons of carbon pollution, according to the company’s fourth annual Impact Report released today. A copy of the report can be found here.

Sunrun systems have generated nearly four gigawatts of clean, reliable solar energy and saved customers hundreds of millions of dollars on their electricity bills since the company’s founding in 2007. Thousands of households across the nation powered their homes with Sunrun’s home solar and rechargeable battery solution during unprecedented weather-related and forced utility power outages throughout 2020.

“We have a once-in-a-generation opportunity to build a sustainable future for humanity,” said Lynn Jurich, Chief Executive Officer and co-founder of Sunrun. “Sunrun is accelerating essential electrification and decarbonization of our energy system one household at a time. We are driving this transformation in a socially and environmentally responsible way, which is something deeply entrenched in our core company values.”

Sunrun’s mission is to create a planet run by the sun and build an affordable energy system that combats climate change and provides energy access for all. We are achieving this by delivering on commitments to our customers, our employees, the communities in which we operate, and our business and financial partners.

Additional highlights from the 2020 report include:

Unveiling Sustainability Goals

• Sunrun is working towards building a network over the next decade of solar and battery systems that will offset more than 600 million metric tons of carbon emissions over their lifetimes.
• The company set a goal to achieve net zero carbon emissions from our operations by 2040.
• Sunrun set a goal to decrease our transportation emissions by transitioning our fleet to one third electric or hybrid within 5 years.
• Sunrun is aiming for gender representation parity in director and above roles by 2025 and race/ethnicity representation parity in manager roles by 2025.
• Sunrun plans to deliver at least 500 megawatts of solar to lower-income people across the country by 2030.

Environmental Impact

• Sunrun has generated 11.4 billion kilowatt-hours of clean energy since 2007.
• The company’s expanded solar footprint prevented greenhouse gas (GHG) emissions totaling 8.1 million metric tons of carbon dioxide equivalent (CO2e), which is a more than 50% increase from the previous year. This is equivalent to negating the carbon dioxide emissions from burning more than 8.9 billion pounds of coal.
• Sunrun systems prevented other pollutant emissions known to harm public health, including preventing over 7.2 million tons of nitrogen oxide pollution since 2007.

Social Impact

• Sunrun is expanding solar energy access in underrepresented communities across the country, delivering an estimated $11 million worth of savings to more than 100,000 low-and-median income residents and providing nearly 3,500 hours of solar job training for residents in disadvantaged communities.
• Sunrun continues its commitment to lead the industry on pay equity by upholding the California Equal Pay Pledge and The White House Equal Pay Pledge, as well as providing a wage of at least $15 per hour to all employees.
• Sunrun is committed to building an inclusive and diverse workforce. As of December 31, 2020, women make up 50% of our executive management team and 44% of our Board of Directors. Nearly one quarter of all Sunrun employees are women.
  

Governance

• Sunrun’s Board of Directors has four female members, including our CEO Lynn Jurich.
• Sunrun established a Human Rights policy, building on Sunrun’s commitment to fair and equitable treatment.
• Sunrun’s commitment to good corporate governance is also reflected in our Code of Business Conduct and Ethics, our Vendor Code of Conduct, and other related governance policies, which are reviewed annually by the Nominating and Governance Committee.
• In 2020 we hosted quarterly meetings with our executive Environmental, Social, and Governance (ESG) Committee. This group is made up of senior management tasked with aligning our ESG priorities with the company’s broader vision and mission. The Nominating & Corporate Governance Committee of our Board of Directors also provided oversight of our ESG goals and performance.

Powering Through

• Sunrun announced in 2020 that it would bring its rechargeable solar battery system, Brightbox, to all of the company’s active markets.
• In 2020, Sunrun’s home solar and rechargeable battery systems provided thousands of customers across the nation with 129,312 hours (~5,400 days) of backup energy, helping them power through 25,167 power outage events.
• Since the first quarter of 2019, Sunrun systems have experienced 42,325 backup events lasting 282,155 hours (~11,800 days).
  

Financial Sustainability & Growth

• Sunrun accelerated scale by acquiring one of the largest solar energy companies in the United States, Vivint Solar.
• The company ended the year with 550,000 customers, an 18% year over year improvement, pro-forma to include Vivint Solar.
• Sunrun solidified its position as a top owner of solar assets globally with nearly four gigawatts of Networked Solar Energy Capacity.
• Sunrun installed a new solar system every 1.5 minutes on average per workweek and has created over 8,500 jobs.
• Sunrun has $9 billion of gross solar system assets on our balance sheet and have largely funded our growth with non-recourse project debt and tax equity.
• Sunrun ended 2020 with $7.8 billion in Gross Earning Assets and $4.2 billion in Net Earning Assets.

For more information, including metrics related to additional financial, social and environmental sustainability, and an appendix that provides ESG-related disclosures under the SASB framework, a discussion of how Sunrun addresses many of the Sustainable Development Goals (SDGs) outlined by the United Nations, please visit: sunrun.com/impact/2020

About Sunrun
Sunrun Inc. (Nasdaq: RUN) is the nation’s leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun’s innovative home battery solution, Brightbox, brings families affordable, resilient, and reliable energy. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources. For more information, please visit www.sunrun.com.

Media Contact:
Andy Newbold
Director of Communications
press@sunrun.com

Investor & Analyst Contact:
Patrick Jobin
SVP, Finance & IR
investors@sunrun.com
(415) 373-5206 

FAQ

What are Sunrun's main achievements highlighted in the 2021 Impact Report?

Sunrun's 2021 Impact Report highlights preventing over 8.1 million metric tons of carbon pollution, serving 550,000 customers, and generating 11.4 billion kilowatt-hours of clean energy since 2007.

What are Sunrun's sustainability goals for the future?

Sunrun aims for net zero carbon emissions by 2040 and plans to reduce transportation emissions by transitioning one third of its fleet to electric or hybrid vehicles within five years.

How much solar energy has Sunrun generated?

Sunrun has generated nearly four gigawatts of clean, reliable solar energy since its founding in 2007.

What is the impact of Sunrun's solar systems on carbon emissions?

Sunrun's systems have prevented over 8.1 million metric tons of carbon dioxide emissions, equivalent to negating the emissions from burning more than 8.9 billion pounds of coal.

How does Sunrun support lower-income communities?

Sunrun plans to deliver at least 500 megawatts of solar to lower-income households by 2030, providing significant savings and job training.