Sunrun Expands Solar Access To Affordable Housing Communities
September 11 2018 - 09:00AM
Sunrun Inc. (Nasdaq:RUN), America’s leading residential solar,
storage and energy services company, is launching an expansion of
its low and moderate income solar offering. The company plans to
develop a minimum of 100 megawatts of solar on affordable
multi-family housing, where 80% of tenants fall below 60% of the
area median income, over the next decade in California.
Sunrun’s commitment, when fully deployed, will directly benefit
at least 50,000 moderate and low-income households. The
installations will be done through building owners at no cost to
the tenants, creating significant economic benefits and reducing
cost for renters. This initiative will also improve local air
quality, decrease reliance on fossil fuels and offer freedom from
climbing electric utility bills. “Sunrun is built on the foundation
that solar energy should be accessible to everyone,” said Lynn
Jurich, Sunrun co-founder and Chief Executive Officer. “In offering
affordable home solar to residents in low and moderate-income
housing, we’re able to support the communities that often
experience the most harmful effects of pollution and climate
change. This expansion further illustrates the essential role of
home solar in improving people’s livelihoods, supporting a
healthier environment, and building a more resilient energy system,
for everyone.”
Smart legislation in the state, such as the affordable housing
solar roofs program, has empowered innovative companies like Sunrun
to expand access to solar. To date, 39 megawatts of solar have been
installed on affordable multi-family dwellings through the
California Public Utilities Commission’s Multifamily Affordable
Solar Housing (MASH) program, and will continue through its
successor program, Solar on Multifamily Affordable Housing (SOMAH).
Sunrun's commitment aims to satisfy one-third of the SOMAH
program's goal of 300 megawatts of solar on affordable housing by
2030.
SOMAH was developed by Assembly member Susan Eggman, who cheered
Sunrun’s commitment to the program: “It has taken years of work
from stakeholders, staff, and the CPUC to get this program running,
and I look forward to getting it launched as soon as possible,” she
said. “This policy was designed to ensure that families in low
income and disadvantaged communities can also reap the benefits of
the booming solar energy industry in California, and the closer we
get to these first installations the closer the benefits are to
these deserving families.”
In addition to its commitment in California, Sunrun is also
introducing a discounted electricity rate to low-income residents
in Nevada, supported by the state’s RenewableGenerations program,
which comes shortly after Sunrun joined the Connecticut Green Bank
Program. The company also will continue its six-year partnership
with GRID Alternatives. Sunrun has helped install 2.5 MW of solar
for 260 families, and generated significant job opportunities for
GRID trainees. Sunrun employees have also volunteered over 4,500
hours with GRID.
“The thing is, no one owns the sun. Rich, poor or somewhere in
between, we all can power our modern lives with clean, abundant and
increasingly affordable solar energy. Bravo to Sunrun for
turning vision into action and for working hard to put solar in the
hands of all Americans,” said Bernadette Del Chiaro, Executive
Director of California Solar & Storage Association.
Home solar gives people the power to choose and the freedom to
create their own energy. By using the sun’s ample energy and their
own rooftops, Americans can help build a sustainable, more reliable
and affordable energy system for everyone. Sunrun’s superior
service ensures this will be a hassle- and worry-free process by
installing, maintaining, warranting and insuring the home solar
systems throughout the life of the service agreement. About
SunrunSunrun (Nasdaq:RUN) is the nation’s leading
residential solar, storage and energy services company. With
a mission to create a planet run by the sun, Sunrun has led the
industry since 2007 with its solar-as-a-service model, which
provides clean energy to households with little to no upfront cost
and at a saving compared 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 a home solar battery service, Sunrun
Brightbox, that manages household solar energy, storage and utility
power with smart inverter technology. For more information, please
visit: www.sunrun.com.
Media
Contact Georgia Dempsey Corporate Communications
press@sunrun.com +1 (415) 518-9418 |
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Investor
Relations Contact Patrick Jobin Investor Relations
investors@sunrun.com +1 (415) 510-4986 |
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A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/94f695ba-fd5b-42a3-b04a-2074f92df778
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