Learn about Sunrun Solar Power
Founded in 2007, the Sunrun currently operates in 15 states in the United States furnishing Sunrun solar systems to the home market through lease agreements, PPAs, solar loans, and upfront purchases. CEO Lynn Jurich and Chairman Edward Fenster reportedly both helped co-found Sunrun. The company maintains headquarters in San Francisco, California and branch offices in many other locations.
Sunrun Company History
Reportedly, Sunrun was founded as a way to promote the domestic use of solar energy in 2007. The company expanded rapidly and now operates in California, Arizona, Colorado, Nevada, Hawaii, and Oregon in the western part of the United States. East of the Mississippi, the firm now serves residents in South Carolina, Pennsylvania, Connecticut, Delaware, Maryland, New Jersey, New York, Massachusetts and New Hampshire. It currently maintains a base of nearly 75,000 Sunrun solar power home energy system residential customers.
Financing for the installation of customer systems has been obtained through firms such as US Bancorp, JP Morgan and Credit Suisse. Additionally, the firm obtained support at various times from venture capitalists, including Madrone Capital Partners, Accel Partners, Foundation Capital and Sequoia Capital. The company reportedly acquired a startup called MEC, a manufacturer of racking products, such as SnapNrack.
Sunrun Solar Products And Services
The firm designs, installs, finances, insures, and maintains home solar power systems that are leased by homeowners. The company offers free operation of its solar power systems; it reports that in exchange, most customers pay a fixed electric rate, typically obtaining savings of about 20% on their utility bill payments.
Solar Power Plans Offered and Warranties
The firm’s website distinguishes between solar leasing and solar power purchasing agreements (PPAs). The company indicates that it offers customers a guarantee of solar power production, a ten year roof solar power system warranty, free overproduction of energy, and free monitoring of the system via a wireless signal. Since its inception, the company has endeavored to provide innovative approaches to increasing the adoption of domestic solar power systems for energy production.
In the past, Sunrun has reportedly obtained solar panels from REC Group and inverters from ABB Group. The firm often utilizes a racking system to establish solar panels on rooftops. Sunrun uses its own installation and maintenance personnel.
Sunrun In the News
The company received the honor of being named a Top 100 Company by the 2014 Global Cleantech Awards. On July 22, 2015, the firm announced that it would become the official residential solar company of the New York Yankees. The partnership will provide Sunrun an opportunity to promote its services to team fans through a kiosk in Yankee Stadium.