Sunrun Nearly Doubles Addressable Market, Bringing Solar to Seven New States
June 28 2017 - 08:00AM
Sunrun Inc. (Nasdaq:RUN), the largest dedicated residential solar,
storage and energy services company in the United States, is
pleased to announce that in just under four months, the company
nearly doubled its total addressable market (TAM). Sunrun expanded
its reach to seven new markets, bringing access to distributed
solar energy in New Mexico, Rhode Island, Texas, Vermont,
Wisconsin, Washington, D.C., and – most recently – Florida. In
addition, the company expanded operations in Pennsylvania and
re-entered the state of Nevada after policymakers passed
legislation to reinstate solar net metering.
The expansions bring Sunrun operations to 22 states and
Washington, D.C., and offer another proof point of the
inevitability of solar. It demonstrates that falling solar
installation costs, combined with strong consumer demand for energy
choice, are increasing homeowners’ access to solar power.
Recent legislative wins continue to prove that rooftop solar is
a bipartisan issue. Lawmakers and voters across the political
spectrum recognize the benefits solar energy provides by reducing
energy costs for all homeowners and modernizing the energy
grid.
“Expanding to these new markets will give homeowners the
opportunity to power their homes directly from their rooftops,
making energy more affordable and the electric grid cleaner and
more reliable," said Lynn Jurich, CEO of Sunrun. "Better yet,
we provide this service by creating one of our country's other
great needs: new, highly paid jobs that can be neither exported nor
automated."
Sunrun is now present in seven new states, which, according to
recent analysis, adds nearly 12 million homes that would be good
candidates for solar in the states in which Sunrun operates. These
new markets nearly double the company’s TAM to over 26 million
homes.
The increase in new markets this year will set a foundation for
2018 and beyond, as Sunrun plans to continue expanding into new
markets. In addition, the company plans to offer its most recent
innovation, Sunrun BrightBox™ solar power and energy storage
service, to additional states.
About Sunrun
Sunrun (Nasdaq:RUN) is the nation’s largest dedicated
residential solar, storage and energy services company with a
mission to create a planet run by the sun. Since establishing the
solar as a service model in 2007, Sunrun leads the industry in
providing clean energy to homeowners with little to no upfront cost
and at a savings to traditional electricity. The company designs,
installs, finances, insures, monitors and maintains the systems,
while families receive predictable pricing for 20 years or more.
The company also offers Sunrun BrightBox™ solar power generation
with smart inverter technology and home battery storage. For more
information, please visit: www.sunrun.com.
Media Contacts
Chris Navalta
Highwire PR for Sunrun
sunrun@highwirepr.com
415-963-4174 ext. 81
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