Toll Brothers Announces National Partnership with Sunrun to Provide Solar Power and Storage to Toll Brothers Homes
Toll Brothers (NYSE: TOL), a luxury home builder, has announced a national partnership with Sunrun, America's leading home solar and storage provider. The agreement includes an exclusive partnership to provide solar as an included feature in all Toll Brothers communities in California. Sunrun will serve as a comprehensive provider, handling sales, design, permitting, installation, customer care, and warranty.
The partnership also offers homebuyers the option to integrate third-party battery storage systems, such as EnPhase or Tesla Powerwall 3. Sunrun's solar products could be offered to Toll Brothers homebuyers in additional markets as an option or standard feature financed with the home. In certain markets, solar can be added at no cost to the homebuyer through third-party ownership.
Toll Brothers has been incorporating solar into its communities since 2015 and currently offers solar power options in several markets nationwide, including Massachusetts, Nevada, and Arizona.
Toll Brothers (NYSE: TOL), un costruttore di case di lusso, ha annunciato una partnership nazionale con Sunrun, il principale fornitore di soluzioni solari e di stoccaggio domestico negli Stati Uniti. L'accordo prevede una partnership esclusiva per fornire energie solari come caratteristica inclusa in tutte le comunità di Toll Brothers in California. Sunrun fungerà da fornitore completo, occupandosi della vendita, progettazione, autorizzazione, installazione, assistenza clienti e garanzia.
La partnership offre anche agli acquirenti di case l'opzione di integrare sistemi di stoccaggio delle batterie di terze parti, come EnPhase o Tesla Powerwall 3. I prodotti solari di Sunrun potrebbero essere offerti agli acquirenti di case Toll Brothers in mercati aggiuntivi come opzione o caratteristica standard finanziata con la casa. In alcuni mercati, l'energia solare può essere aggiunta senza costi per l'acquirente della casa attraverso la proprietà di terze parti.
Toll Brothers sta integrando l'energia solare nelle sue comunità dal 2015 e attualmente offre opzioni di energia solare in diversi mercati a livello nazionale, tra cui Massachusetts, Nevada e Arizona.
Toll Brothers (NYSE: TOL), un constructor de casas de lujo, ha anunciado una asociación nacional con Sunrun, el principal proveedor de soluciones solares y de almacenamiento en el hogar en Estados Unidos. El acuerdo incluye una asociación exclusiva para proporcionar energía solar como una característica incluida en todas las comunidades de Toll Brothers en California. Sunrun actuará como un proveedor integral, encargándose de ventas, diseño, permisos, instalación, atención al cliente y garantías.
La asociación también ofrece a los compradores de viviendas la opción de integrar sistemas de almacenamiento de baterías de terceros, como EnPhase o Tesla Powerwall 3. Los productos solares de Sunrun podrían ser ofrecidos a los compradores de Toll Brothers en mercados adicionales como opción o característica estándar financiada con la vivienda. En ciertos mercados, la energía solar se puede añadir sin costo para el comprador de la vivienda a través de la propiedad de terceros.
Toll Brothers ha estado incorporando energía solar en sus comunidades desde 2015 y actualmente ofrece opciones de energía solar en varios mercados a nivel nacional, incluyendo Massachusetts, Nevada y Arizona.
Toll Brothers (NYSE: TOL), 고급 주택 건설업체가 미국의 주요 주택 태양광 및 저장 솔루션 제공업체인 Sunrun과 전국 파트너십을 발표했습니다. 이 협약은 캘리포니아의 모든 Toll Brothers 커뮤니티에 포함된 기능으로 태양광을 제공하는 독점 파트너십을 포함합니다. Sunrun은 판매, 설계, 허가, 설치, 고객 관리, 보증 등을 포괄적으로 처리하는 공급자로 활동합니다.
이 파트너십은 또한 주택 구매자에게 EnPhase 또는 Tesla Powerwall 3와 같은 제3자 배터리 저장 시스템을 통합할 수 있는 옵션을 제공합니다. Sunrun의 태양광 제품은 추가 시장에서 Toll Brothers 주택 구매자에게 옵션 또는 주택과 함께 금융 지원되는 표준 기능으로 제공될 수 있습니다. 특정 시장에서는 제3자 소유를 통해 주택 구매자에게 추가 비용 없이 태양광이 추가될 수 있습니다.
Toll Brothers는 2015년부터 커뮤니티에 태양광을 통합하고 있으며 현재 매사추세츠, 네바다, 애리조나를 포함한 여러 시장에서 태양광 옵션을 제공합니다.
Toll Brothers (NYSE: TOL), un constructeur de maisons de luxe, a annoncé un partenariat national avec Sunrun, le principal fournisseur de solutions solaires et de stockage domestique aux États-Unis. L'accord prévoit un partenariat exclusif pour fournir de l'énergie solaire comme caractéristique incluse dans toutes les communautés de Toll Brothers en Californie. Sunrun agira en tant que fournisseur complet, s'occupant des ventes, de la conception, des autorisations, de l'installation, du service client et de la garantie.
Le partenariat offre également aux acheteurs de maisons la possibilité d'intégrer des systèmes de stockage de batteries tiers, tels que EnPhase ou Tesla Powerwall 3. Les produits solaires de Sunrun pourraient être proposés aux acheteurs de maisons de Toll Brothers dans d'autres marchés comme option ou caractéristique standard financée avec la maison. Dans certains marchés, l'énergie solaire peut être ajoutée sans frais pour l'acheteur grâce à la propriété de tiers.
Toll Brothers intègre l'énergie solaire dans ses communautés depuis 2015 et propose actuellement des options d'énergie solaire dans plusieurs marchés à l'échelle nationale, y compris le Massachusetts, le Nevada et l'Arizona.
Toll Brothers (NYSE: TOL), ein Hersteller von Luxuswohnungen, hat eine nationale Partnerschaft mit Sunrun, dem führenden Anbieter von Solar- und Energiespeicherlösungen in den USA, bekannt gegeben. Die Vereinbarung umfasst eine exklusive Partnerschaft, um Solarenergie als integriertes Merkmal in allen Toll Brothers Gemeinschaften in Kalifornien bereitzustellen. Sunrun wird als umfassender Anbieter fungieren und sich um Verkauf, Design, Genehmigung, Installation, Kundenbetreuung und Garantie kümmern.
Die Partnerschaft bietet Hauskäufern auch die Möglichkeit, Speichersysteme von Drittanbietern, wie EnPhase oder Tesla Powerwall 3, zu integrieren. Die Solarprodukte von Sunrun könnten Hauskäufern von Toll Brothers in weiteren Märkten als Option oder als Standardmerkmal angeboten werden, das mit dem Haus finanziert wird. In bestimmten Märkten kann Solar ohne Kosten für den Hauskäufer durch Drittanbieterbesitz hinzugefügt werden.
Toll Brothers integriert seit 2015 Solarenergie in seine Gemeinschaften und bietet derzeit Solaroptionen in mehreren Märkten im ganzen Land an, einschließlich Massachusetts, Nevada und Arizona.
- Exclusive partnership to provide solar as a standard feature in all Toll Brothers communities in California
- Potential expansion of solar offerings to additional Toll Brothers markets nationwide
- Option for homebuyers to integrate third-party battery storage systems
- Possibility of adding solar at no cost to homebuyers in certain markets through third-party ownership
- None.
Insights
This partnership between Toll Brothers and Sunrun is a significant move that could have positive implications for both companies. For Toll Brothers, it demonstrates a commitment to sustainable housing and could potentially increase the appeal of their homes to environmentally conscious buyers. The inclusion of solar as a standard feature in California, a large and environmentally progressive market, is particularly noteworthy.
From a financial perspective, this deal could lead to increased revenue for Toll Brothers through higher home prices or improved sales volume. For Sunrun, securing an exclusive partnership with a major homebuilder like Toll Brothers represents a substantial opportunity for growth and market expansion. The "one-stop shop" approach and the potential for expansion into additional markets could significantly boost Sunrun's installation numbers and recurring revenue from leases and power purchase agreements.
However, investors should consider potential risks, such as regulatory changes affecting solar incentives or possible supply chain issues for solar components. Overall, this partnership aligns with growing trends in sustainable housing and renewable energy adoption, positioning both companies favorably in their respective markets.
This partnership marks a significant step towards mainstreaming solar energy in new home construction. By making solar a standard feature in all California communities, Toll Brothers is setting a new benchmark for sustainable luxury housing. This move aligns with California's aggressive clean energy goals and could influence other homebuilders to follow suit.
The inclusion of battery storage options is particularly forward-thinking. It addresses grid reliability concerns and allows homeowners to maximize their solar investment. The choice between different battery systems (EnPhase or Tesla Powerwall 3) gives consumers flexibility and could drive innovation in the home energy storage market.
From a broader perspective, this partnership could accelerate the adoption of residential solar across the U.S. As Toll Brothers expands this offering to other markets, it has the potential to normalize solar as a standard home feature, rather than an aftermarket addition. This shift could have far-reaching implications for the residential construction industry and contribute significantly to reducing carbon emissions from the housing sector.
Agreement includes an exclusive partnership to provide solar as an included feature in all Toll Brothers communities in California
FORT WASHINGTON, Pa., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, and Sunrun Inc., America’s #1 home solar and storage provider, today announced a new national partnership for Sunrun to provide solar power and storage to Toll Brothers homes. Sunrun and Toll Brothers have an exclusive agreement for Sunrun to provide solar power as an included feature in all Toll Brothers homes in California, as well as a preferred agreement to provide solar for additional Toll Brothers divisions nationwide.
As part of the agreement, Sunrun will serve as a “one-stop shop” to provide solar as a standard feature in all Toll Brothers communities in California, including sales, design, permitting, installation, customer care, and warranty. Sunrun also provides home buyers with the choice of a third-party battery storage system, including EnPhase or the Tesla Powerwall 3, to integrate with their provided residential solar system.
“We are pleased to announce this new agreement with Sunrun as our national solar and storage partner, providing our home buyers with state-of-the-art options for clean, reliable power in their new homes,” said Seth Ring, Executive Vice President of Toll Brothers. “Since 2015, Toll Brothers has been committed to incorporating solar into our communities in California and beyond, and we are excited to continue this commitment to innovation and our environment with Sunrun.”
Under the agreement, Sunrun solar products could also be offered to Toll Brothers homebuyers in additional markets as an option or as a standard (included) feature financed with the home. In certain markets, where third-party ownership (via a Leasing and Power Purchase Agreement) is allowed and available, solar can be added to the home at no cost to the homebuyer.
“Toll Brothers already offers solar power options in a number of additional markets nationwide, including Massachusetts, Nevada, Arizona, and more,” added Ring. “This new agreement with Sunrun provides an excellent framework to expand that reach and promote solar and storage programs to our homebuyers nationwide.”
Founded in 2007, Sunrun has completed solar installation on over one million homes nationwide.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.
In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired Companies™ list and the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
From Fortune, ©2024 Fortune Media IP Limited. All rights reserved. Used under license.
FORWARD-LOOKING STATEMENTS
Information presented herein for the third quarter ended July 31, 2024 is subject to finalization of the Company’s regulatory filings, related financial and accounting reporting procedures and external auditor procedures.
This release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these statements by the fact that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events. These statements contain words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “may,” “can,” “could,” “might,” “should,” “likely,” “will,” and other words or phrases of similar meaning. Such statements may include, but are not limited to, information and statements regarding: expectations regarding inflation and interest rates; the markets in which we operate or may operate; our strategic priorities; our land acquisition, land development and capital allocation priorities; market conditions; demand for our homes; our build-to-order and spec home strategy; anticipated operating results and guidance; home deliveries; financial resources and condition; changes in revenues; changes in profitability; changes in margins; changes in accounting treatment; cost of revenues, including expected labor and material costs; selling, general, and administrative expenses; interest expense; inventory write-downs; home warranty and construction defect claims; unrecognized tax benefits; anticipated tax refunds; sales paces and prices; effects of home buyer cancellations; growth and expansion; joint ventures in which we are involved; anticipated results from our investments in unconsolidated entities; our ability to acquire or dispose of land and pursue real estate opportunities; our ability to gain approvals and open new communities; our ability to market, construct and sell homes and properties; our ability to deliver homes from backlog; our ability to secure materials and subcontractors; our ability to produce the liquidity and capital necessary to conduct normal business operations or to expand and take advantage of opportunities; and the outcome of legal proceedings, investigations, and claims.
Any or all of the forward-looking statements included in this release are not guarantees of future performance and may turn out to be inaccurate. This can occur as a result of incorrect assumptions or as a consequence of known or unknown risks and uncertainties. The major risks and uncertainties – and assumptions that are made – that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to:
- the effect of general economic conditions, including employment rates, housing starts, inflation rates, interest and mortgage rates, availability of financing for home mortgages and strength of the U.S. dollar;
- market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions;
- the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such land;
- access to adequate capital on acceptable terms;
- geographic concentration of our operations;
- levels of competition;
- the price and availability of lumber, other raw materials, home components and labor;
- the effect of U.S. trade policies, including the imposition of tariffs and duties on home building products and retaliatory measures taken by other countries;
- the effects of weather and the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, unavailability of insurance, and shortages and price increases in labor or materials associated with such natural disasters;
- risks arising from acts of war, terrorism or outbreaks of contagious diseases, such as Covid-19;
- federal and state tax policies;
- transportation costs;
- the effect of land use, environment and other governmental laws and regulations;
- legal proceedings or disputes and the adequacy of reserves;
- risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, indebtedness, financial condition, losses and future prospects;
- the effect of potential loss of key management personnel;
- changes in accounting principles;
- risks related to unauthorized access to our computer systems, theft of our and our homebuyers’ confidential information or other forms of cyber-attack; and
- other factors described in “Risk Factors” included in our Annual Report on Form 10-K for the year ended October 31, 2023 and in subsequent filings we make with the Securities and Exchange Commission (“SEC”).
Many of the factors mentioned above or in other reports or public statements made by us will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements.
Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
For a further discussion of factors that we believe could cause actual results to differ materially from expected and historical results, see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section.
CONTACT: Heather Reeves, (215) 328-7634
hreeves@tollbrothers.com
CONTACT: Gregg Ziegler, (215) 478-3820
gziegler@tollbrothers.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bdacba39-8613-460f-9704-28de3455bbd1
FAQ
What is the new partnership between Toll Brothers and Sunrun for?
Will Sunrun's solar offerings be available in Toll Brothers communities outside of California?
What battery storage options are available for Toll Brothers homebuyers through the Sunrun partnership?
Since when has Toll Brothers (TOL) been incorporating solar into their communities?
