On November 7, 2024, Sunrun Inc., a leading provider of residential solar, storage, and energy services, reported its financial results for the third quarter ended September 30, 2024. The company announced significant growth in storage capacity, with 336 Megawatt hours installed, marking a 92% increase year-over-year and exceeding the high-end of their guidance range. Storage attachment rates reached 60%, doubling from the same period last year. Solar Energy Capacity Installed was at the high end of the guidance range at 230 Megawatts, contributing to a total of 7.3 Gigawatts of Networked Solar Energy Capacity. Sunrun also reported a second consecutive quarter of positive Cash Generation, amounting to $2.5 million, and reiterated its Cash Generation guidance of $350 million to $600 million for 2025. Net Earning Assets increased to $6.2 billion, including...Show More

On November 7, 2024, Sunrun Inc., a leading provider of residential solar, storage, and energy services, reported its financial results for the third quarter ended September 30, 2024. The company announced significant growth in storage capacity, with 336 Megawatt hours installed, marking a 92% increase year-over-year and exceeding the high-end of their guidance range. Storage attachment rates reached 60%, doubling from the same period last year. Solar Energy Capacity Installed was at the high end of the guidance range at 230 Megawatts, contributing to a total of 7.3 Gigawatts of Networked Solar Energy Capacity. Sunrun also reported a second consecutive quarter of positive Cash Generation, amounting to $2.5 million, and reiterated its Cash Generation guidance of $350 million to $600 million for 2025. Net Earning Assets increased to $6.2 billion, including over $1 billion in Total Cash. A milestone was achieved as Sunrun became the first clean energy company to surpass 1 million residential solar customers. The company's financial health was further bolstered by extending the maturity of its recourse working capital facility to March 2027 and reducing parent debt by over $100 million since March. Sunrun's CEO, Mary Powell, and CFO, Danny Abajian, highlighted the company's strong operating and financial results, focus on customer experience, and disciplined growth strategy. The company also announced several new virtual power plant programs to enhance grid stability and continued strong execution in the capital markets with a $365 million securitization of residential solar and battery systems. Sunrun will host a conference call to discuss these results and provide further details on its business outlook.