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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Sunrun Inc.    RUN

SUNRUN INC.

(RUN)
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Sunrun Now Offering New Customers Access To Home Solar And Batteries For $1 Per Month For 6 Months

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04/16/2020 | 09:01am EDT

SAN FRANCISCO, April 16, 2020 (GLOBE NEWSWIRE) -- Sunrun, Inc. (NASDAQ: RUN), the nation’s leading home solar, battery storage, and energy services company, today introduced a new product to provide immediate financial relief and energy security for families nationwide.

New customers can now access rooftop solar and Sunrun’s Brightbox solar-powered home battery service from as little as zero dollars down and at a $1 monthly rate for the first six months. This new product is available in all markets nationwide where Sunrun offers rooftop solar, as well as markets where the company offers its Brightbox solar-powered home battery service.

“Keeping the lights on and costs low for American families has never been as important as it is today,” said Lynn Jurich, Sunrun’s co-founder and Chief Executive Officer. “We know that rooftop solar and batteries provide energy security and predictability during these uncertain times. That’s why we are extending immediate financial relief through this offering to households nationwide.”

As more people are working from home and quarantining with their families, many households are using and relying on more daytime energy than they did previously. In California, people are using as much as 20% more electricity in their homes than normal, according to the California Public Utilities Commission (CPUC).

When the grid goes down and there is an outage, Brightbox provides backup electricity to your home using power generated directly from the solar panels on your roof. Last year, hundreds of Sunrun customers in California were able to endure utility-mandated power outages by utilizing rooftop solar and battery storage, many for days at a time, until grid electricity was restored. In Bay Area counties that experienced these Public Safety Power Shutoffs (PSPS) in October 2019, for example, Brightbox customers kept their lights on while the grid was down for more than 36 hours on average.

“With the looming threat of hurricanes and wildfires alongside this growing pandemic, we know that reliability and affordability are needed now more than ever,” said Jurich.

Sunrun is committed to delivering critical electricity services in this new environment. In order to better serve and protect customers, the company announced that it has mandated that all employees follow public health guidelines and other best practices recommended by medical experts from across the country. Further measures include virtual-only sales across the country and technology like drones, video conferencing, and Docusign electronic signature to make going solar almost completely contact-free from sale to install.

About Sunrun                         
Sunrun Inc. (Nasdaq:RUN) is the nation’s leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun’s innovative home battery solution, Brightbox, brings families affordable, resilient, and reliable energy. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources. For more information, please visit www.sunrun.com.

Media Contact:
Shane Levy
Media Manager
press@sunrun.com
201-679-9507

Investor & Analyst Contact:
Patrick Jobin
SVP, Finance & IR
investors@sunrun.com
(415) 373-5206

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© GlobeNewswire 2020
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Financials (USD)
Sales 2020 809 M - -
Net income 2020 13,6 M - -
Net Debt 2020 2 729 M - -
P/E ratio 2020 184x
Yield 2020 -
Capitalization 3 149 M 3 149 M -
EV / Sales 2019
EV / Sales 2020 7,27x
Nbr of Employees 4 800
Free-Float 94,6%
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 23,57 $
Last Close Price 26,17 $
Spread / Highest target 18,5%
Spread / Average Target -9,93%
Spread / Lowest Target -58,0%
EPS Revisions
Managers
NameTitle
Lynn Michelle Jurich Chief Executive Officer & Executive Director
Edward Harris Fenster Executive Chairman
Christopher Dawson Chief Operating Officer
Tom vonReichbauer Chief Financial Officer
Gerald Alan Risk Lead Independent Director
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