Sunrun Reports First Quarter 2021 Financial Results
Latest Quarterly Earnings
Q1 2021
Quarter Ended Mar 31, 2021
30%
Increasing Full-Year Growth Guidance to 25% to 30%
$165
Net Subscriber Value of $8,197 resulting in Total Value Generated of $165 million during Q1
$4.2B
Net Earning Assets of $4.2 billion, including $813 million in Total Cash
For complete information regarding our financials, see our periodic filings.
The Residential Market Leader
Formed in 2007, Sunrun pioneered residential solar service. We have over 550,000 customers3 and have sold our solar service in 22 states, DC & Puerto Rico. We provide a superior solar energy service with fixed pricing under 20 or 25 year agreements, that generate recurring, contracted revenue for multiple decades. Sunrun has the industry’s leading customer acquisition platform, customer experience capabilities, and extensive financing experience, all of which drive significant barriers to entry and high incremental returns. The majority of customers save 5-45% in the first year1 and we have delivered more than $300 million in savings for our customers.
Why InvestTwo Minute Reads from CEO Lynn Jurich
Read the latest thoughts on important topics from co-founder and CEO Lynn Jurich.
View Latest Quick ReadsHow Sunrun is Making an Impact
Our mission is to create a planet run by the sun. This means that everyone, from solar installers and sales people to CEO Lynn Jurich, shows up to work because they are driven by passion and purpose. Yet mission alone does not make change. At Sunrun, we feel the urgency of the public’s desire for a 100% renewable and resilient energy future. Our roofs have the potential to harness the sun’s abundant energy through solar panels, and home batteries can store that power for when it’s needed, delivering clean energy that powers our lives. A future where energy is affordable and accessible for all.
Our purpose goes beyond putting solar panels on rooftops—it extends to our internal values as well. Sunrun operates to have a positive impact on society by creating meaningful local jobs, contributing to healthier communities, and helping to build a safer, cleaner and more resilient future energy system for everyone. In doing so, we have a responsibility to minimize our environmental impact in all aspects of our operations, provide a safe and diverse place to work for our employees, and ensure robust corporate governance practices.
View Our ESG InitiativesIR Contacts
Company
Sunrun Inc.
225 Bush Street
Suite 1400
San Francisco, CA 94104
Investor Relations
T: 415-373-5206
investors@sunrun.com
Sources and Notes
- First year savings is based on 6 months trailing data for Direct only and a 2.5% escalator. Actual savings may vary by customer. Calculations exclude customers in Hawaii and Texas.
- Customers as of 12/31/2020. Employee count as of 12/31/2020. Installation rate based on 115,000 work-day minutes divided by 2019 full-year customer deployments.
- Customers is rounded as of 12/31/2020.