Net change in cash and restricted cash of $290 million and Cash Generation1 of $377 million in 2025 Outlook for positive Cash Generation2 in the range of $250 million to $450 million for full year 2026 Aggregate Subscriber Value of $1.3 billion in Q4 Contracted Net Value Creation of $176 million in Q4, or $0.76 per share Storage Attachment Rate reached record 71% in Q4 Paid down $81 million of recourse debt in Q4 with excess cash SAN FRANCISCO, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America ...

CNBC recognized Sunrun CEO for accelerating battery storage growth and advancing distributed power plant innovation to help meet surging energy demand in AmericaSAN FRANCISCO, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America’s largest provider of home battery storage, solar, and home-to-grid power plants, today announced that CEO Mary Powell has been named to the 2026 CNBC Changemakers: Women Transforming Business list. The annual list honors 50 exceptional female leaders who are impacting so ...

Core Insights - Sunrun has achieved significant growth in its distributed power plant programs, with customer participation increasing over fivefold in 2025, making it one of the largest sources of flexible, dispatchable energy in the U.S. [2][3] - The company dispatched nearly 18 gigawatt-hours of energy from batteries, enough to power 15 million homes for one hour, with a peak output capacity of 416 megawatts [2][3] - Sunrun's distributed power plants have been crucial in meeting rising electricity demand, which is projected to increase by 25% by 2030 [4] Company Performance - In 2025, over 106,000 customers participated in Sunrun's 17 distributed power plant programs, a significant increase from approximately 20,000 the previous year [3] - The company recorded more than 1,300 dispatches throughout the year, providing energy during critical hours and helping to avoid power outages [3] - Customers earned over $17 million in 2025 for their participation in the distributed power plant programs [8] Industry Context - The U.S. electricity demand is being driven by factors such as AI, data centers, electrification, and extreme weather, leading to a widening gap between supply and demand [4][5] - Grid operators are facing challenges, including record-high capacity prices and the risk of outages, highlighting the need for innovative solutions like those offered by Sunrun [4][5] - Sunrun's distributed power plants are positioned as a quick solution to build dispatchable capacity without the need for new transmission or lengthy construction timelines [5] Innovations and Partnerships - Sunrun's distributed power plant programs leverage a fleet of 217,000 home battery storage systems, the largest in America, with plans to have 10 gigawatt-hours of dispatchable capacity by the end of 2028 [6] - Notable partnerships include collaborations with Vistra's TXU Energy, NRG Energy, Tesla Electric, and Ford, enhancing the company's ability to provide energy solutions [7] - The company has successfully operated the largest distributed power plant in California, providing significant energy relief during peak demand periods [7]

Core Insights - HA Sustainable Infrastructure Capital (HASI) and Sunrun have formed a joint venture to finance distributed energy assets, aiming to finance over 300 MW of capacity across more than 40,000 home power plants [1] - HASI will invest up to $500 million over an 18-month period into the joint venture, which will allow Sunrun to retain significant long-term ownership and flexibility in structuring senior project debt [1] - The partnership is expected to enhance grid reliability and address increasing power demand through home-based energy systems [1] Investment Structure - HASI's structured equity investment will monetize a portion of long-term customer cash flows from the projects, leading to a more efficient cost of capital [1] - The joint venture will be accounted for as a consolidated entity on Sunrun's financials [1] - This financing structure is described as a first-of-its-kind for residential storage and solar financing, anticipated to provide aggregate proceeds equal to or better than Sunrun's traditional financing arrangements [1] Company Profiles - HASI manages over $15 billion in assets, investing in various sustainable infrastructure asset classes, including utility-scale solar, storage, and onshore wind [1] - Sunrun is a pioneer in home energy systems, offering a no-upfront-cost subscription model that empowers customers with greater energy control and independence [1] - Sunrun contributes to grid resiliency by providing on-demand dispatchable power, which helps lower energy costs [1]

Core Insights - Sunrun has appointed Craig Cornelius to its board of directors, bringing two decades of experience in the renewable energy sector [1][2] - Cornelius has a strong background in energy development and operations, having served as CEO of Clearway Energy Group and previously held leadership roles at NRG Energy [2][3] - His appointment is expected to enhance Sunrun's strategic growth, particularly in scaling distributed power plant operations [2] Company Overview - Sunrun is the largest provider of home battery storage, solar, and home-to-grid power plants in the United States [4] - The company offers home energy systems through a no-upfront-cost subscription model, promoting energy control and independence for customers [4] - Sunrun contributes to grid stability by providing on-demand dispatchable power, which helps prevent blackouts and reduce energy costs [4] Leadership and Governance - Craig Cornelius will serve on the Audit Committee and the Nominating, Governance, and Sustainability Committee of Sunrun's board [3] - His extensive experience in the renewable energy sector is expected to provide valuable insights for the company's future direction [2][3]

Core Insights - Sunrun reported an aggregate subscriber value of $1.6 billion in Q3 2025, reflecting a 10% year-over-year growth [9] - The company achieved a contracted net value creation of $279 million, marking a 35% increase year-over-year [9] - Cash generation for Q3 2025 was $108 million, representing the sixth consecutive quarter of positive cash generation [10] Financial Performance - Total revenue for Q3 2025 was $724.6 million, a 35% increase from Q3 2024 [14] - Customer agreements and incentives revenue rose to $491.6 million, up 21% year-over-year [14] - Solar energy systems and product sales revenue increased by 77% to $233 million, primarily due to a new transaction involving customer agreements [14] Subscriber Metrics - Subscriber additions totaled 30,104, a slight decrease of 1% compared to Q3 2024, with total subscribers reaching 971,805, a 13% increase year-over-year [6] - The storage attachment rate improved to 70% in Q3 2025, up from 60% in the prior year [7] Cash and Debt Management - The net change in cash and restricted cash was $144 million, with an unrestricted cash balance increase of $134 million year-to-date [10][3] - The company paid down $66 million of recourse debt since December 31, 2024, and reduced borrowings under its working capital facility [3] Strategic Initiatives - Sunrun's storage-first strategy led to a 20% growth in customer additions with storage compared to the prior year [4] - The company activated the nation's first residential vehicle-to-grid distributed power plant program in partnership with Baltimore Gas and Electric [5] Market Outlook - Aggregate subscriber value is expected to range from $1.33 billion to $1.63 billion in Q4 2025, indicating a 5% decline at the midpoint compared to Q4 2024 [11] - Contracted net value creation for Q4 2025 is projected between $182 million and $482 million, representing 6% growth at the midpoint compared to Q4 2024 [11]

Core Insights - The majority of Americans feel unprepared for grid instability, electricity outages, and extreme weather, leading to increased demand for home battery storage and solar solutions from Sunrun [1][3] Group 1: Rising Demand and Grid Strain - A national survey indicates that homeowners are losing confidence in traditional utilities' ability to meet rising energy needs, driven by factors such as AI and data centers [2][4] - 80% of respondents worry that data centers will increase their electricity costs, and 68% are concerned that their utility provider cannot keep up with growing energy demand [9] Group 2: Impact of Outages - Nearly 87% of Americans have experienced real consequences from power outages, including spoiled food and interrupted access to medical equipment [6] - 81% reported at least one power outage in the past year, with 60% facing up to three outages [9] Group 3: Desire for Energy Independence - Homeowners increasingly view distributed energy resources as a solution for personal resilience and public benefit, with 62% considering home battery storage systems [7][10] - 91% believe that home solar and batteries strengthen the grid, and 92% are willing to share excess energy with neighbors during peak demand [10] Group 4: Sunrun's Role and Solutions - Sunrun's home storage and solar systems are positioned as scalable solutions to stabilize the grid and provide families with more control over their energy [8] - The company emphasizes that every home with storage and solar contributes to America's energy future, lowering costs and enhancing national security [9]