Sunrun Installs First BrightBox™ Solar Power Plus Energy Storage System in Hawai‘i
Governor David Ige & Honolulu Mayor Kirk Caldwell Help Celebrate State’s First Energy Storage System Under New Rooftop Solar Program
SAN FRANCISCO, May 06, 2016 (GLOBE NEWSWIRE) -- Sunrun Inc. (Nasdaq:RUN), the largest dedicated residential solar company in the United States, today announced the first completed installation of its Sunrun BrightBox™ energy storage system in Hawai‘i. The combined home solar with energy storage system is also the first ever to be installed under Hawaiian Electric Company’s (HECO) new Customer Self-Supply (CSS) Program. Under the program, Hawaii homeowners can install a rooftop solar system with a battery so they can use clean, affordable solar energy day and night, with power priced below utility prices today. Sunrun’s commitment to affordability means homeowners can get BrightBox now through an affordable monthly or prepaid lease for little to no money down.
Governor David Ige, City and County of Honolulu Mayor Kirk Caldwell and other community leaders joined Sunrun today to celebrate the installation of the first BrightBox system at the home of the company’s first storage customer, Anthony Aalto, Chairman of the Sierra Club O‘ahu Group. Representative David Lee (District 51), Chair of the Committee on Energy and Environmental Protection, presented Sunrun with a proclamation from the State Legislature recognizing the company for installing Hawai‘i’s first ever self-supply home solar plus energy storage system.
“Hawai‘i’s 100 percent clean energy goal requires an aggressive transformation in how energy is generated, stored, and used. The availability of an affordable home solar plus storage option allows the average Hawai‘i resident to be a part of the solution,” said Gov. Ige. “Hawai‘i is happy to partner with forward-thinking companies who are innovating and reducing the cost of living for the average resident.”
“The storage of energy produced by the sun is the next wave in rooftop solar, and it’s exciting that Honolulu will be on the cutting edge for these new products being offered by Sunrun,” said Mayor Kirk Caldwell. “Battery storage provides consumers an environmentally friendly choice that did not exist just a few years ago.”
With a BrightBox system, Anthony and other Hawai‘i homeowners can store excess solar power generated during the day so they have access to that power at night and can save even more on their electric bills. The homeowner stays connected to the energy grid if they need electricity beyond what their BrightBox system generates.
Home solar coupled with energy storage also provides additional benefits to the electric grid for all Hawai‘i residents—as more solar plus storage systems are installed, the state can eliminate the need for expensive backup power plants and new power lines or defer expensive energy grid upgrades helping all Hawai‘i residents save money.
“As the pioneers of solar-as-a-service, Sunrun has been at the forefront of making solar affordable and accessible for average homeowners,” said Lynn Jurich, chief executive officer of Sunrun. “We’re proud to continue our leadership by introducing an affordable energy storage solution that offers Hawai‘i homeowners immediate savings without a high down payment. We will continue to innovate to deliver customers more choice and savings.”
Homeowners interested in owning their system can also buy it or finance it through other innovative options from Sunrun. Regardless of how they choose to get BrightBox, Sunrun takes care of everything from permitting to installation so customers can go solar without it disrupting their lives—all they need to decide on is what to do with the money they’ll be saving.
For more information about Sunrun BrightBox, visit Sunrun’s plans and services page here.
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 Statement
This press release contains forward-looking statements including, but not limited to, statements regarding the industry’s growth, Sunrun’s growth, customer savings, demand for our products and services and our ability to offer energy storage products to additional regions in the U.S. outside of Hawai‘i. 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 quarterly report on Form 10-Q, 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.
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Released May 6, 2016