Sunrun Releases 2023 Impact Report

Rhea-AI Summary

Sunrun, a leader in clean energy services, has released its 2023 Impact Report, outlining significant strides in environmental and social impact.

The report highlights over 1 gigawatt of solar capacity installed, 570 megawatt hours of storage, and a reduction in operational emissions by 24%. Sunrun has generated 6.8 billion kilowatt-hours of solar energy, saving customers $1.3 billion and providing 2.8 million hours of backup power.

Sunrun also achieved a 52% ethnically diverse workforce, a 18% improvement in employee safety, and completed 307,000 training courses. Additionally, they provided solar power to 1,085 low- and moderate-income households and contributed 10,000 hours of volunteer time.

The company received numerous recognitions, including from Fast Company and Comparably, highlighting its commitment to sustainability, diversity, and community support.

Positive

• Installed over 1 gigawatt of solar capacity and 570 megawatt hours of storage capacity.
• Generated 6.8 billion kilowatt-hours of solar energy.
• Reduced operational emissions by 24%.
• Recycled or remanufactured 100% of solar panels, batteries, and inverters.
• 82% of forklifts in warehouses are now electric.
• 73% of the sales and corporate fleet are electric or hybrid vehicles.
• Achieved a 18% improvement year-over-year in employee safety metric (DART rate).
• Achieved a 52% ethnically diverse workforce.
• Completed 307,000 training courses for employee development.
• Brought solar power to 1,085 low- and moderate-income multifamily households.
• Contributed 10,000 hours of volunteer time to local communities.
• Received numerous recognitions, such as Fast Company Brands That Matter and Comparably Best Places to Work.

Negative

• Operational emissions are still present despite a 24% reduction.
• Solar capacity installation of over 1 gigawatt may indicate high operational costs.
• Continuous need for recycling or remanufacturing solar panels, batteries, and inverters, which might imply ongoing expenses.
• Significant reliance on electric or hybrid vehicles, which might incur high initial investment costs.

Seventh annual Impact Report highlights Sunrun’s continued progress toward its impact goals, social and environment stewardship, and operating responsibly

SAN FRANCISCO, May 16, 2024 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, today released its 2023 Impact Report. The report details the company's progress toward its impact goals, social and environmental initiatives, as well as advancements in safety, employee experience, and governance. It also highlights Sunun’s commitment to generating long-term, sustainable value for all of its stakeholders, including customers, employees, communities, and shareholders.

“Our achievements over the past year reflect the passion and commitment of our teams in the critical work we undertake daily to build a sustainable, clean-energy future that benefits everyone,” said Sunrun CEO Mary Powell. “Our annual report underscores our strong commitment to environmental stewardship and operating responsibility. It inspires us to continually improve our operations, empower our employees, support our communities, deliver value for our shareholders, and provide unparalleled service to our customers as we connect people to the cleanest energy on earth.”

Since 2007, Sunrun solar energy systems have generated 32.4 billion kilowatt-hours of solar energy, helping to enable the avoidance of an estimated 18 million metric tons of carbon dioxide emissions — the equivalent of taking 4.3 million gasoline-powered vehicles off the roads or 48 gas-fired power plants offline for a year. Additionally, Sunrun has provided its customers with over $1.3 billion in energy savings and approximately 2.8 million hours of backup power over 659,000 grid outage events.

Notable 2023 Sunrun impact highlights include:

Mitigating the Impacts of Climate Change

• Installed over 1 gigawatt of solar capacity and 570 megawatt hours of storage capacity
• Sunrun solar energy systems produced 6.8 billion kilowatt-hours of solar energy
• Reduced total operational emissions by 24%
• Recycled or remanufactured 100% of solar panels, batteries, and inverters
• Increased the percentage of electric forklifts in warehouses to 82%
• Increased the percentage of electric or hybrid vehicles is sales and corporate fleet to 73%

Building a Safe, Diverse, Fair, and Equitable Workforce

• Achieved a 18% improvement year-over-year in employee safety metric (DART rate)
• Achieved a 52% ethnically diverse total workforce
• Completed 307,000 training courses to support the development and career advancement of employees
• Added an additional Sunrun Community group (formerly Employee Resource Groups), bringing the total to eight

Improving Energy Equity and Environmental Justice

• Brought solar power to an additional 1,085 low- and moderate-income multifamily households
• Provided 12,900 hours of on-the-job training for multifamily work
• Contributed 10,000 hours of employee volunteer time to local communities
  

Company Recognition

• Fast Company Brands That Matter
• Comparably Best Places to Work:
  • Best Company Career Growth
  • Best Company for Women
  • Best Teams (Sales)
• Military Times Best for Vets Employer
• Institutional Investor Best Investor Relations Team for Alternative Energy
• Score of 95 on the Human Rights Campaign 2023 Corporate Equality Index

Discover more by visiting Sunrun’s 2023 Impact Report.

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

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

Investor & Analyst Contact
Patrick Jobin
Senior Vice President, Finance & IR
investors@sunrun.com

FAQ

What significant achievements were highlighted in Sunrun's 2023 Impact Report?

Sunrun's 2023 Impact Report highlights installing over 1 gigawatt of solar capacity, 570 megawatt hours of storage capacity, and a 24% reduction in operational emissions.

How much solar energy did Sunrun generate according to the 2023 Impact Report?

Sunrun generated 6.8 billion kilowatt-hours of solar energy in 2023.

What was Sunrun's contribution to energy savings for customers as per the 2023 Impact Report?

Sunrun provided customers with over $1.3 billion in energy savings.

How did Sunrun contribute to workforce diversity in 2023?

Sunrun achieved a 52% ethnically diverse total workforce in 2023.

What improvements in employee safety were reported by Sunrun in 2023?

Sunrun reported an 18% improvement in the employee safety metric (DART rate) in 2023.

How did Sunrun support low- and moderate-income households in 2023?

Sunrun brought solar power to 1,085 low- and moderate-income multifamily households in 2023.

What community support initiatives were highlighted in Sunrun's 2023 Impact Report?

Sunrun contributed 10,000 hours of employee volunteer time to local communities in 2023.

What recognitions did Sunrun receive according to the 2023 Impact Report?

Sunrun received recognitions like Fast Company Brands That Matter and Comparably Best Places to Work in 2023.