A Message from Our CEO
CREATING LONG-TERM SUSTAINABLE VALUE & PROFITABLE GROWTH
At Sunrun, our mission is to create a planet run by the sun, and that begins with creating long-term value for all of our stakeholders by having an unwavering focus on sustainable, profitable growth. Over the past year, it has been a pleasure to speak with a great number of our stockholders and stakeholders about Sunrun’s opportunities as the nation’s leading solar, storage and home electrification company. Our laser focus is on crushing it on the fundamentals and generating value for our stockholders, customers, employees, and communities. We strive to create value and drive efficiencies to make us faster, better and stronger, which in turn makes the communities we serve healthier and more resilient.
We had a record-breaking year in 2022. Our teams continued to innovate new methods of operation, and our staff worked relentlessly to meet the demands of our customers in a knowledgeable, quick, and easy manner—helping contribute to record sales and strong earnings results. As I look at a year marked by tremendous growth, increasing demand, and industry challenges, I’m proud that our commitment to placing our customers at the center of all we do has never wavered.
We aspire to be the most customer-obsessed clean energy provider in the world, and while we began as a solar-only business 15 years ago, our persistent focus on understanding our customers' increasing energy needs has led us to develop a lineup of clean energy products and a workforce committed to providing a personalized energy experience for customers of all backgrounds, every day.
AT SUNRUN WE START WITH SAFETY
Nothing is more important than the health and safety of our people and our communities. Sunrun's culture is built around the idea of always putting safety first. We're investing in our people, equipment, and technology to raise workplace safety metrics even further. We launched the Safe-to-Start Program in 2022, a new program that mandates a full jobsite safety check before any work is done, resulting in a material decrease in serious accidents and safety violations. It is critical that our employees and customers understand that safety will always be a top priority at Sunrun.
BUILDING A SUSTAINABLE FUTURE
Our efforts to operate sustainably begin with our understanding that our biggest impact on the environment comes from our products and services. We provide our customers access to products that are good for their homes, good for the environment, and good for them financially. Since 2007, our solar energy systems have generated 25.6 billion kilowatt-hours of clean energy, enabling the avoidance of 14.6 million metric tons of CO2e from entering the atmosphere.
As part of our commitment to reach net-zero emissions across our operations by 2040, we continue to expand our use of hybrid sedans and all-electric forklifts, light-duty trucks, and cargo vans to deliver solar and storage systems to our customers’ doorsteps. We are also investing in last-mile strategies that will significantly reduce the overall miles our fleet drives every day. And as we deploy more clean energy systems, we are focused on managing their end-of-life cycle. In 2022, Sunrun redeployed or recycled more than 85% of solar panels with qualified recycling providers.
DELIGHTING OUR CUSTOMERS
We strive to be customer-obsessed in all that we do, and we believe that delivering an exceptional customer experience is essential for generating long-term, sustainable value for our customers and investors. To ensure we’re addressing our customers’ changing needs, interests, and concerns, we often solicit their feedback using several online customer satisfaction surveys. In 2022, we increased staffing and modified the structure and incentives of certain organizations to drive greater satisfaction, and throughout the year we saw the positive results of these efforts.
ADVANCING DIVERSITY AND INCLUSION
Our ability to deliver a personalized customer experience and positive change for our planet relies on diverse perspectives from smart, passionate, and committed people from all backgrounds. In 2022, we continued to make progress on fostering a diverse workforce by increasing gender representation in our people-leader roles. We continue to prioritize the diversification of our workforce with new recruiting policies that expand talent reviews and require diverse interview panels to provide candidates with a better experience, provide a more well-rounded view of the candidate, and provide growth for our employees.
Through our fully-funded employee education and upskilling program, PowerU, we’re helping thousands of employees learn new and essential skills to advance their careers. More than 500 employees are now enrolled to become certified electricians, and more than 160 employees have been promoted to new roles after completing a course or foundational training.
SERVING PEOPLE AND COMMUNITIES
In marginalized communities, we are supporting the development of solar systems on affordable multifamily housing. As of December 2022, our 150 completed projects are delivering meaningful energy savings each month to over 11,100 households. We are also strengthening these communities by providing career pathways in the solar industry. We completed more than 6,500 hours of solar job training in 2022 for residents in disadvantaged communities so that they can be well positioned for good-paying jobs in the solar industry.
I want to express my sincere appreciation for all the Sunrun employees working so hard to create a company that is faster, better and stronger for our customers and our communities. Building the best company and helping turbocharge the consumer-led revolution in energy is only possible with the talented and committed team who is ready to lead the charge every single day.
Mary PowellChief Executive Officer