Sunrun's Power Plant Programs Complete Successful 2024 with Expansion and Innovation To Support Power Grids Across the Country

Core Insights - Sunrun has established itself as the leading provider of clean energy as a subscription service, with a significant portfolio of virtual power plants (VPPs) that supported power grids across the U.S. in 2024, achieving a combined peak capacity of nearly 80 megawatts, surpassing many traditional fossil-fuel power plants [1][3][6] Group 1: Virtual Power Plant Initiatives - In 2024, over 20,000 Sunrun customers participated in 16 VPP programs across nine states and territories, providing stored solar energy during critical energy events [2][4] - The CalReady program in California involved over 16,000 customers, delivering an average of 48 megawatts of stored solar energy, peaking at 54 megawatts, enough to power approximately 48,000 homes [5] - The PowerOn Puerto Rico program saw over 4,000 customers providing backup energy during more than 70 energy shortfall events, helping to prevent rolling blackouts [5] Group 2: Strategic Partnerships and Innovations - Sunrun partnered with Tesla Electric and Vistra in Texas to leverage home batteries for peak consumption reserves, offering customers an annual payment of $400 per Powerwall [5] - In New York, Sunrun activated the state's largest residential VPP, providing stored solar energy during peak demand events, with customers receiving free or discounted home batteries [5] - The company launched the first bidirectional electric vehicle-to-home VPP in Maryland, utilizing customer-owned Ford F-150 Lightnings, allowing participants to earn several hundred dollars by sharing energy [5] Group 3: Market Position and Growth - Sunrun's storage-first approach has positioned it as one of the largest distributed power providers in the U.S., serving as a vital resource for utilities and grid operators [6] - Customer enrollment in Sunrun's power-sharing programs grew approximately 100% year-over-year in 2024, indicating strong market demand [6] - The company aims to monetize more battery assets and secure additional recurring revenue streams in 2025 [4][6]