Sunrun Celebrates 15 Years Leading the Nation’s Clean Energy Transition
Nation’s leading home solar, battery storage, and energy services company now serving over 700,000 customers with 5 GW of solar capacity installed
SAN FRANCISCO, June 28, 2022 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), the nation’s leading home solar, battery storage, and energy services provider, is celebrating 15 years leading America’s residential clean energy transition. Through its innovative solar-as-a-service business model, Sunrun has made rooftop solar and home battery storage affordable, mainstream, and accessible for millions of Americans by enabling consumers to switch to clean energy with little to no upfront costs.
As part of the company’s 15th anniversary commemoration, Sunrun is also celebrating other company milestones achieved earlier this quarter: increasing total customers to 700,000 and installed solar capacity to 5 gigawatts, making it the largest residential solar provider and second largest owner of solar assets in the nation. To date, Sunrun home energy systems have provided more than $800 million in energy cost savings to customers and generated 20 billion kilowatt-hours of clean energy, helping avoid approximately 11.2 million metric tons of carbon dioxide equivalent (CO2e)—the equivalent of taking 2.4 million cars off the road for a year.
Sunrun's history of blending product innovation with industry expertise began in San Francisco in 2007 when Sunrun co-founders, Ed Fenster and Lynn Jurich, invented the solar-as-a-service model. In 2015, Fenster and Jurich took the company public on the Nasdaq stock exchange. In 2020, Sunrun acquired its largest competitor, Vivint Solar, to help build a world-class sales organization and further solidify the company’s position as the leader in home solar and energy services across the United States. Led by Fenster and Jurich for the first 14 years, the company has been under the leadership of clean energy pioneer Mary Powell, Chief Executive Officer, since September 2021.
“Lynn and Ed built an incredibly human-centered, purpose-driven company that’s in a strong position to capitalize on accelerating consumer interest and demand,” said Mary Powell, Chief Executive Officer of Sunrun. “Today we celebrate, but we still have much work to do. At a time when the cost of energy is increasing by double digits across the country, and the destructive impacts of climate change are becoming more severe, we're providing customers something utilities simply can’t: energy independence, comfort, and security. Americans want a more reliable, clean, and affordable energy future, and Sunrun is answering the call to action.”
“In 2007, we rewrote the definition of home energy in America, and we continue to rewrite that narrative each year as we unlock more ways for customers to electrify their homes and transportation,” said Lynn Jurich, Co-Founder and Co-Executive Chair at Sunrun. “It’s truly amazing to see a business that was once a two-person operation in the attic of a San Francisco home scale into a diverse workforce of more than 11,000 and provide real, tangible benefits to millions across 5,000 cities in 22 states. We’re so proud of our legacy and even more excited about the next chapter in Sunrun’s journey.”
Sunrun has scaled to a home energy and grid services provider offering solar + battery storage, EV charging, and smart energy management that delivers significant cost savings to customers, reduces reliance on polluting energy resources, and provides backup energy to utilities and people when it’s needed most. Sunrun now has over 37,000 solar + battery storage customers nationwide. Since the first quarter of 2019, Sunrun battery systems have dispatched more than 516,000 hours (~21,500 days) of backup energy during nearly 81,000 outage events.
Sunrun continues to expand product and service offerings through strategic partnerships. In 2021, Sunrun announced a partnership with Ford Motor Company and the F-Series, America’s best-selling trucks for 45 years, to advance home energy storage and solar power using the new, all-electric F-150 Lightning truck to power homes and help accelerate the adoption of zero-carbon solar energy. Sunrun has also forged a strategic partnership with SPAN to lower the costs of solar installation and accelerate whole-home electrification.
Sunrun is committed to radical collaboration as the company plays a key role in leading the clean energy transition and accelerating the customer-led revolution to more innovative personalized energy solutions for those it serves.
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 solutions bring 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.
See the Company's quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission for additional information regarding Sunrun's business, a description of the risks and uncertainties related to our business, and the full definitions of Networked Solar Energy Capacity and Customers.
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Released June 28, 2022