Sunrun Company Research Report

Company Overview

• Name: Sunrun Inc.

• Mission of the Company: Sunrun's mission is to create a planet run by the sun, emphasizing the promotion of clean energy and the democratization of access to solar power and renewable energy solutions.

• Founded: Sunrun was founded in 2007.

• Founders: Sunrun was co-founded by Lynn Jurich and Edward Fenster.

• Key People in the Company:

• Mary Powell: Chief Executive Officer

• Paul Dickson: President and Chief Revenue Officer

• Lynn Jurich: Co-Executive Chair

• Edward Fenster: Co-Executive Chair

• Danny Abajian: Chief Financial Officer

• Jeanna Steele: Chief Legal Officer and Chief People Officer

• Chance Allred: Chief Experience Officer

• Patrick Kent: Chief Field Operations Officer

• Headquarters: Sunrun is headquartered at 600 California Street, Suite 1800, San Francisco, CA 94108, USA.

• Number of Employees: More than 10,000 employees as of the latest data.

• Revenue: In 2023, Sunrun reported an annual recurring revenue of $1.3 billion from subscribers.

• Known For: Sunrun is known for being the leading provider of residential solar energy and energy storage solutions in America, offering solar power as a subscription service.

Products

Solar Energy Products

• Description: Comprehensive residential solar energy systems designed to reduce dependence on traditional utilities and fossil fuels.

• Key Features:

• Customized design tailored to individual home needs.

• High-efficiency photovoltaic cells for maximum energy capture.

• Built to withstand harsh weather conditions.

• Seamless integration with home systems for stability and reliability.

• Description: Advanced home battery systems that provide solar energy storage solutions for reliable power during outages and grid independence.

• Key Features:

• Tesla Powerwall integration, offering up to 13.5 kWh of storage.

• Real-time monitoring and seamless integration with solar panels.

• Protects against energy cost surges and increases.

• Provides backup power during outages.

• Description: A holistic home solar and battery storage service for a hassle-free solar experience.

• Key Features:

• 24/7 system monitoring and maintenance.

• Financing options that allow for little-to-no upfront costs.

• Predictable and affordable energy payments.

Innovative Products

• Description: Exclusive to California, this technology optimizes solar power usage to maximize savings under state policies.

• Key Features:

• Battery system stores energy during the day.

• Shifts energy to peak hours for cost savings.

• Description: Vehicle-to-home charging system in partnership with Ford, enabling bi-directional energy flow between home and electric vehicles.

Recent Developments

• Expansion and Growth:

• Sunrun recently surpassed 1 million residential solar customers, a milestone that underscores its leadership in the clean energy sector.

• Partnerships:

• The company announced a partnership with Ford to develop a Home Integration System for vehicle-to-home charging capability.

• Technological Innovations:

• Sunrun has introduced the SPAN® Smart Electrical Panel to improve energy efficiency management in homes.

• Recognition and Awards:

• Sunrun was named a ‘Sustainability Innovator’ in Good Housekeeping’s 2025 Home Renovation Awards.

• Sunrun CEO Mary Powell was recognized as a 2024 Forbes Sustainability Leader.

• Environmental and Social Impact:

• In 2023, Sunrun reported having avoided 18 million metric tons of CO2 emissions since inception, equating to removing 4.3 million gasoline-powered vehicles off the roads.

• The company redeployed or recycled 100% of solar panels, batteries, and inverters in 2023.

• Financial Performance:

• Reported net earnings assets of $5.7 billion and demonstrated significant customer growth with over 26,687 customer additions in Q2 2024.

Contact Information

• Corporate Locations:

• Sunrun Inc., 600 California Street, Suite 1800, San Francisco, CA 94108; 717 17th Street, 2nd Floor, Denver, CO 80202; 1800 Ashton Blvd, Lehi, UT 84043.

• Investor Relations:

• Patrick Jobin, Senior Vice President, Deputy CFO & Investor Relations Officer, T: 415-373-5206, investors@sunrun.com