Constellation, Sunrun Launch Home Solar Offering to Residential Electricity Customers
Relationship increases access to solar energy and enables customers to save more
BALTIMORE, Md., March 22, 2016 (GLOBE NEWSWIRE) -- Constellation, a leading competitive retail energy supplier, and Sunrun (Nasdaq:RUN), the largest dedicated residential solar company in the United States, today announced that Constellation will offer residential electricity customers in Massachusetts, Maryland, New Jersey, and New York the opportunity to install Sunrun solar energy systems on their homes, allowing them to lock in predictable electricity rates and better manage their electric bill.
“Constellation is dedicated to providing our customers with innovative, clean energy solutions, and home energy technologies to meet their unique residential energy needs,” said Bruce Stewart, senior vice president and chief marketing officer for Constellation. “We have a long history of providing solar solutions to our commercial customers and we are pleased to work with Sunrun to offer affordable solar solutions to our residential customers. This is another key step in executing Constellation’s strategy to deliver a broad set of home energy services and technologies to our residential customers to help them effectively manage their energy costs.”
Sunrun will enable homeowners to install solar without the high upfront cost and complexity of ownership. Sunrun pays for the solar installation and insures, monitors, maintains and guarantees performance of the system for 20 years. Customers simply purchase power generated from their Sunrun system at a rate that is less than their current electric utility rate, and can continue to receive electricity supply from Constellation if additional power, beyond what their solar energy system generates, is required.
“With Sunrun, homeowners across the Mid-Atlantic and Northeast can simply access the benefits of going solar without the hassle of upfront costs or maintenance,” said Matthew Woods, senior vice president, partners at Sunrun. “Sunrun is pleased to work with Constellation to make it even easier for more families to enjoy energy choice and savings.”
Constellation’s partnership with Sunrun complements the company’s home services and renewables business. Constellation has a total of 275 megawatts of distributed commercial solar projects completed or under development across the country. Additionally, BGE HOME, Constellation’s home energy services provider in Maryland, will also offer its customers the opportunity to install Sunrun systems.
The relationship supports Sunrun’s unique approach to meeting consumers’ needs through a variety of channels and partners, including in retail environments, online, through local installers or bundled with other consumer services. Sunrun is committed to bringing clean, affordable solar energy and an exceptional customer experience to more consumers through its partners.
To be eligible for Sunrun, customers must own their home, spend about $100 a month on their electricity bill and have a roof in good condition with favorable sun exposure.
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves approximately 2 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NYSE:EXC), the nation's leading competitive energy provider, with 2015 revenues of approximately $29.4 billion, and more than 32,700 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.
Sunrun (Nasdaq:RUN) is the largest dedicated residential solar company in the United States with a mission to create a planet run by the sun. Since establishing the solar as a service model in 2007, Sunrun continues to lead the industry in providing clean energy to homeowners with little to no upfront cost and at a savings to traditional electricity. The company designs, installs, finances, insures, monitors and maintains the solar panels on a homeowner's roof, while families receive predictable pricing for 20 years or more. For more information please visit: www.sunrun.com.
Forward Looking Statements
This press release contains forward-looking statements including, but not limited to, statements regarding expansion, customer savings, future potential for a specific market and demand for and availability of our products and services. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. You should read the section entitled "Risk Factors" in Sunrun's annual report on Form 10-K, which has been filed with the Securities and Exchange Commission and identifies certain of these and additional risks and uncertainties. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Contact: Christina Pratt Constellation 410-470-9700 Christina.firstname.lastname@example.org Sarah Mier Sunrun 415-580-6817 Sarah.Mier@sunrunhome.com
Released March 22, 2016