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Sunrun (NASDAQ:RUN – Get Free Report) and AGL Energy (OTCMKTS:AGLNF – Get Free Report) are both utilities companies, but which is the better stock? We will contrast the two businesses based on the strength of their profitability, valuation, earnings, dividends, risk, analyst recommendations and institutional ownership.

Valuation and Earnings This table compares Sunrun and AGL Energy”s revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Sunrun $2.96 billion 0.73 $449.95 million $1.48 6.03 AGL Energy N/A N/A N/A $1.02 5.83 Sunrun has higher revenue and earnings than AGL Energy. AGL Energy is trading at a lower price-to-earnings ratio than Sunrun, indicating that it is currently the more affordable of the two stocks. Analyst Recommendations This is a breakdown of recent recommendations and price targets for Sunrun and AGL Energy, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Sunrun 2 8 12 0 2.45 AGL Energy 0 0 1 0 3.00 Sunrun presently has a consensus target price of $16.81, suggesting a potential upside of 88.27%. Given Sunrun’s higher possible upside, equities analysts clearly believe Sunrun is more favorable than AGL Energy.

Insider & Institutional Ownership 91.7% of Sunrun shares are held by institutional investors. Comparatively, 15.3% of AGL Energy shares are held by institutional investors. 3.5% of Sunrun shares are held by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a company will outperform the market over the long term.

Profitability This table compares Sunrun and AGL Energy’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Sunrun 11.59% 9.59% 1.77% AGL Energy N/A N/A N/A Summary Sunrun beats AGL Energy on 10 of the 11 factors compared between the two stocks.

About Sunrun (Get Free Report)

Sunrun Inc. designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes. Its primary customers are residential homeowners. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network. Sunrun Inc. was founded in 2007 and is headquartered in San Francisco, California.

About AGL Energy (Get Free Report)

AGL Energy Limited supplies energy and other essential services to residential, small and large businesses, and wholesale customers in Australia. It operates through three segments: Customer Markets, Integrated Energy, and Investments. The company engages in retailing of electricity, gas, broadband, mobile, voice, solar, and energy products and services; and operates power generation portfolio and other assets including coal, gas and renewable generation, natural gas storage and production, and development projects. It also offers renewable energy schemes; and controls dispatch of owned and contracted generation assets, gas offtake agreements, and associated portfolio of energy hedging products. In addition, the company offers coal and gas-fired generation; and renewable energy sources, such as wind, hydro and solar, batteries and other firming technology; and gas production and storage assets. AGL Energy Limited was founded in 1837 and is based in Sydney, Australia.

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EP Wealth Advisors LLC bought a new stake in Sunrun Inc. (NASDAQ:RUN – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 146,517 shares of the energy company’s stock, valued at approximately $1,960,000. EP Wealth Advisors LLC owned 0.06% of Sunrun at the end of the most recent quarter.

Several other large investors have also modified their holdings of RUN. Dimensional Fund Advisors LP lifted its holdings in shares of Sunrun by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after purchasing an additional 165,196 shares during the period. Invesco Ltd. increased its stake in Sunrun by 26.6% in the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after buying an additional 1,231,628 shares during the period. Geode Capital Management LLC increased its stake in Sunrun by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after buying an additional 205,627 shares during the period. Contour Asset Management LLC purchased a new position in Sunrun during the 4th quarter worth $98,010,000. Finally, Voloridge Investment Management LLC raised its position in Sunrun by 47.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock worth $63,025,000 after buying an additional 1,100,666 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes Several analysts have recently commented on the stock. Zacks Research cut shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. TD Cowen dropped their price target on shares of Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Royal Bank Of Canada cut their price target on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Mizuho set a $18.00 price objective on shares of Sunrun in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.81.

Get Our Latest Analysis on Sunrun Sunrun Trading Down 2.1% NASDAQ:RUN opened at $9.16 on Friday. Sunrun Inc. has a 1 year low of $8.61 and a 1 year high of $22.44. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. The stock has a fifty day moving average price of $11.47 and a two-hundred day moving average price of $13.46. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 6.19 and a beta of 2.35.

Sunrun (NASDAQ:RUN – Get Free Report) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same period in the previous year, the firm earned $1.07 EPS. The business’s revenue was up 52.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Sunrun Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Transactions at Sunrun In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the transaction, the director directly owned 367,405 shares in the company, valued at approximately $3,659,353.80. This represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maria Barak sold 3,278 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $12.17, for a total transaction of $39,893.26. Following the completion of the transaction, the chief accounting officer directly owned 90,033 shares of the company’s stock, valued at approximately $1,095,701.61. This trade represents a 3.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 223,045 shares of company stock valued at $2,934,835. 3.55% of the stock is owned by company insiders.

Sunrun Profile (Free Report)

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.

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For the quarter ended June 2026, Sunrun (RUN - Free Report) reported revenue of $869.99 million, up 52.8% over the same period last year. EPS came in at $0.42, compared to $1.07 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $722.86 million, representing a surprise of +20.35%. The company delivered an EPS surprise of +425%, with the consensus EPS estimate being $0.08.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Sunrun performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Storage Capacity Installed: 332.00 Mwh versus the two-analyst average estimate of 358.88 Mwh.Contracted Subscriber Value: $55,033.00 versus the two-analyst average estimate of $46,240.36.Subscriber additions: 19,793 versus 23,779 estimated by two analysts on average.Solar Capacity Installed: 174.30 MW versus 194.50 MW estimated by two analysts on average.Subscriber Value: $59,377.00 versus $49,904.23 estimated by two analysts on average.Revenue- Customer agreements and incentives: $543.73 million versus the five-analyst average estimate of $522.16 million. The reported number represents a year-over-year change of +18.7%.Revenue- Solar energy systems and product sales: $326.26 million versus $186.83 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +193% change.Revenue- Customer agreements: $506.96 million compared to the $488.33 million average estimate based on three analysts. The reported number represents a change of +17% year over year.Revenue- Incentives: $36.77 million versus $48.83 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +49.7% change.Revenue- Solar energy systems: $290.97 million versus the two-analyst average estimate of $50.99 million. The reported number represents a year-over-year change of +668.3%.Revenue- Products: $35.29 million versus the two-analyst average estimate of $60.21 million. The reported number represents a year-over-year change of -52%.Gross Profit- Solar Energy Systems and Product: $126.95 million versus the four-analyst average estimate of $52.24 million.View all Key Company Metrics for Sunrun here>>>

Shares of Sunrun have returned -24.7% over the past month versus the Zacks S&P 500 composite's +2.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

3 Small Caps Hitting 52-Week Highs: Take Profits or Let Ride?Sunrun NASDAQ: RUN reported second-quarter results marked by a record storage attachment rate, positive cash generation excluding safe-harbor equipment investments, and a reduced full-year outlook as the company shifts toward a larger direct-sales business.

Chief Executive Officer Mary Powell said Sunrun is moving away from affiliate-originated volume in favor of its direct business, which she said carries higher margins, stronger customer satisfaction and better credit profiles. The transition has created more front-loaded costs and has taken longer to ramp than management initially expected, contributing to the revised guidance.

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5 Clean Energy Stocks Poised for the Next Green RallyThe company said it added nearly 21,000 customers during the second quarter and reached a 74% storage attachment rate, a quarterly record. That represented more than 15,500 battery installations. Average system size increased 2% from the first quarter, according to Chief Financial Officer Danny Abajian.

Cash Generation and Revised Outlook Sunrun reported $23 million of cash generation in the second quarter, or $45 million excluding $22 million of net investments in equipment safe harboring. Powell said the company generated positive cash flow in the first half excluding those investments and has produced $428 million of cash generation over the past two years.

Is This Solar Stock Ready for a Comeback? Key Milestones AheadHowever, the company lowered its full-year 2026 cash-generation guidance to a range of $200 million to $375 million, before safe-harbor equipment investments of between $50 million and $100 million. Its prior forecast was $250 million to $450 million.

Management cited three primary reasons for the reduction:

Further planned reductions in affiliate-channel volume, as well as the bankruptcy of affiliate partner Freedom Forever. A slower-than-expected ramp in direct-sales activity and onboarding of new sales representatives. Higher capital costs as interest rates increased in recent months. Sunrun also reduced its full-year Aggregate Subscriber Value outlook to $4.6 billion to $4.9 billion, from a previous range of $4.8 billion to $5.2 billion. Aggregate Subscriber Value was nearly $1.2 billion in the second quarter, near the high end of the company’s guidance range. Abajian said Aggregate Contracted Subscriber Value was $1.1 billion, or about $55,000 per subscriber, up 10% from a year earlier.

The company estimated upfront proceeds of about $52,000 per subscriber, based on a 94% advance rate against Aggregate Contracted Subscriber Value. Estimated Upfront Net Subscriber Value was approximately $2,000 per subscriber, or roughly 4% of Contracted Subscriber Value. Abajian said the margin was lower primarily because of timing effects and higher up-front costs associated with building the direct business, but said Sunrun expects the margin to improve in the third quarter.

Direct Business Gains as Affiliate Volume Falls Sunrun’s direct business grew more than 20% from the first quarter and was nearly flat from the prior-year period, Abajian said. The company’s monthly direct-sales trends turned positive in June and July, with sales growth exceeding 10% year over year in each month.

The company expects direct-business volume to resume year-over-year growth in the third quarter and forecasts second-half growth of more than 10% versus the prior year. Full-year direct-business growth is expected to be in the low single digits.

By comparison, affiliate volume fell 30% sequentially in the second quarter and declined more than 70% year over year. Sunrun now expects affiliate-channel installations to decline more than 60% for the full year, with direct sales accounting for more than 85% of total origination volume.

Powell said Sunrun has added more than 1,500 salespeople year to date, exceeding typical seasonal hiring levels. She said some new hires require additional time to learn how to sell the company’s more complex solar-and-storage offerings and navigate varied electricity-rate structures.

President and Chief Revenue Officer Paul Dickson said conversion rates on the company’s core offerings are “flat to up” as new sales representatives are brought into the organization and ramp productivity.

Storage Fleet and Grid-Services Opportunities Sunrun said it had installed more than 266,000 solar-plus-storage systems as of the end of the second quarter, representing approximately 4.6 gigawatt-hours of networked storage capacity. The company added more than one gigawatt-hour of storage capacity and dispatched more than 700 megawatts of power over the past 12 months.

Powell said the company’s deployed assets represent more than $500 million in grid-services present value. Sunrun expects its distributed power plant operations to generate about $40 million in GAAP gross revenue and more than $10 million in operating margin in 2026.

The company remains on track to exceed 10 gigawatt-hours of dispatchable capacity online by the end of 2028. Powell said Sunrun is pursuing potential monetization opportunities through utility partnerships, energy-market participation, retail electricity providers and large power users, including data-center hyperscalers.

In June, Sunrun announced a framework with Renew Home and Tesla intended to bring more than 16 gigawatts of home energy resources to hyperscalers. In July, it launched a distributed artificial-intelligence computing pilot that uses participating homes as an edge-computing platform.

Management said the AI initiative remains in pilot stage and that the company expects to learn more over the coming months before determining the timing of commercial deployment. Dickson said Sunrun sees an opportunity to use customers’ controllable power to support graphics processing units in homes, while potentially using asset-financing structures similar to those it has used in its core business.

Capital Markets Activity Abajian said Sunrun closed multiple tax-equity funds and investment-tax-credit transfer agreements during the quarter. ITC transfer pricing remained stable from the first quarter, with pricing in the high-$0.80 to low-$0.90 range.

As of the call, closed transactions and executed term sheets provided expected tax-equity capacity equivalent to funding approximately 1,000 megawatts of projects beyond those deployed through the second quarter. Sunrun also had more than $840 million in unused commitments under its non-recourse senior revolving warehouse loan, which it said could fund more than 340 megawatts of retained-subscriber projects.

The company raised approximately $1.5 billion in non-recourse asset-level debt financing year to date. It also recently priced a $267 million public securitization at a spread of 200 basis points, an improvement of 20 basis points from its most recent second-quarter transaction. Sunrun expects additional securitization activity in the second half of the year.

Abajian said the company intends to continue using cash generation to reduce parent-company leverage while evaluating other capital-allocation options in future quarters depending on market conditions and its outlook.

About Sunrun (NASDAQ:RUN)Sunrun, Inc NASDAQ: RUN is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun's network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.

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Sunrun (RUN - Free Report) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $1.07 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +425.00%. A quarter ago, it was expected that this solar energy products distributor would post a loss of $0.05 per share when it actually produced earnings of $0.62, delivering a surprise of +1340%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Sunrun, which belongs to the Zacks Solar industry, posted revenues of $869.99 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 20.35%. This compares to year-ago revenues of $569.34 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Sunrun shares have lost about 40.1% since the beginning of the year versus the S&P 500's gain of 13%.

What's Next for Sunrun?While Sunrun has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Sunrun was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.22 on $810.44 million in revenues for the coming quarter and $1.01 on $3.08 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Solar is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Daqo New Energy (DQ - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This solar panel parts maker is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of +75.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Daqo New Energy's revenues are expected to be $59.2 million, down 21.3% from the year-ago quarter.

Aggregate Subscriber Value of approximately $1.2 billion in Q2

Storage Attachment Rate reached record 74% in Q2 and Networked Storage Capacity reaches 4.6 Gigawatt-hours as of June 30, 2026

Net cash used in operating activities was -$186 million in Q2 and Cash Generation was $23 million, or $45 million if excluding $22 million of net investments in equipment safe harbor

Revised Cash Generation1,2 guidance to a range of $200 million to $375 million in 2026, excluding investments in equipment safe harbor

SAN FRANCISCO, Aug. 05, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America’s largest provider of home battery storage, solar, and home-to-grid power plants, today announced financial results for the second quarter ended June 30, 2026.

“The need for affordable, reliable power has never been more evident, and our storage-first offering is meeting it — customers attached batteries at the highest rate in our history this quarter. We are positioning the business for strong growth, bringing on some of the best talent in the industry and scaling deliberately, with a focus on customer experience and asset quality. And as that engine scales, we're aiming to unlock new ways to monetize the network we've already built, from distributed power plant programs to emerging data center and grid edge applications, creating new streams of Cash Generation,” said Mary Powell, Sunrun’s Chief Executive Officer.

“We are revising our full-year Cash Generation outlook to $200 million to $375 million, excluding equipment safe harbor investments, reflecting reduced affiliate channel volumes, a delayed ramp in direct sales activities, and modestly higher capital costs than previously forecasted. Customer demand for our offering remains strong, and as our expanded sales force reaches full productivity, we believe that we will exit the year at a robust growth rate and higher unit margins,” said Danny Abajian, Sunrun’s Chief Financial Officer.1

Second Quarter Updates and Recent Developments

Leading with Storage-First Strategy: Storage Attachment Rate was 74% in Q2, up from 70% in the prior-year period. As of June 30, 2026, Sunrun has installed more than 266,000 storage and solar systems, representing approximately 4.6 Gigawatt hours of Networked Storage Capacity.Continued Strong Capital Markets Execution: In August 2026, Sunrun placed a $267 million securitization of seasoned residential solar and battery systems. The publicly-placed A- rated Class A Notes priced at a yield of 6.33%, reflecting a spread of 200 basis points, a 20 basis point improvement to the public Class A-1 Notes in Sunrun’s April 2026 securitization.Year-to-date, Sunrun has raised approximately $1.5 billion of non-recourse asset-level debt financing, inclusive of our August 2026 securitization noted above, which is expected to close this month. Industry-Leading Customer Experience Recognized: In May 2026, Sunrun earned four 2026 Buyer's Choice Awards from ConsumerAffairs — Best in Customer Service, Best Installation Experience, Best Equipment, and Best Value — based on verified customer reviews. This recognition follows Sunrun's ranking of No. 5 on TIME's inaugural list of The World's Most Impactful Companies, underscoring our commitment to delivering an industry-leading customer experience.Positioning Our Distributed Fleet to Serve AI and Data Center Demand: In June 2026, Sunrun, Renew Home, and Tesla announced a non-binding letter of intent to deliver more than 16 gigawatts of fast, flexible energy capacity to hyperscalers and utilities — which, together, would form the largest distributed power plant in the country. In July 2026, we launched a distributed AI data center pilot, which places compute nodes in homes with Sunrun solar and storage systems. These initiatives aim to leverage Sunrun's existing energy infrastructure to serve AI-driven electricity demand and create new, high-margin revenue opportunities. Key Operating Metrics

In the second quarter of 2026, Subscriber Additions were 19,793, a 31% decrease compared to the second quarter of 2025. As of June 30, 2026, Sunrun had 1,034,738 Subscribers. Subscribers as of June 30, 2026 grew 10% compared to June 30, 2025.

Storage Capacity Installed was 332 megawatt hours in the second quarter of 2026, a 15% decrease from the second quarter of 2025. Solar Capacity Installed was 174 megawatts in the second quarter of 2026, a 23% decrease from the second quarter of 2025.

Subscriber Value was $59,377 in the second quarter of 2026, a 10% increase compared to the second quarter of 2025. Contracted Subscriber Value was $55,033 in the second quarter of 2026, a 10% increase compared to the second quarter of 2025. Subscriber Value figures for the second quarter of 2026 reflect a 7.3% discount rate based on observed project-level capital costs, compared to 7.4% in the prior year period. Subscriber Value reflects an average Investment Tax Credit of 44.0% in the second quarter of 2026 compared to 42.6% in the prior year period. Storage Attachment Rate was 74% in the second quarter of 2026 compared to 70% in the prior year period.

Net Subscriber Value was $9,444 in the second quarter of 2026, a 44% decrease compared to $17,004 in the second quarter of 2025. Contracted Net Subscriber Value was $5,100 in the second quarter of 2026, a 61% decrease compared to $13,032 in the second quarter of 2025.

Aggregate Subscriber Value was $1.2 billion in the second quarter of 2026, a 24% decrease compared to the second quarter of 2025.

Total Operating Expenses were $835 million in the second quarter of 2026, an increase of 23% compared to the prior year period. Creation Costs Reflected in Operating Expenses were $469 million in the second quarter of 2026, a 92% increase compared to the second quarter of 2025. Net cash used in investing activities was $449 million in the second quarter of 2026, a 35% decrease compared to the prior year period. Creation Costs Reflected in Capital Expenditures were $519 million in the second quarter of 2026, a 37% decrease compared to the second quarter of 2025.

Net cash used in operating activities was $(186) million in the second quarter of 2026, while Cash Generation was $23 million. Cash Generation would have been $45 million excluding the effects of equipment safe harbor investments that totaled $22 million in the second quarter of 2026.

Contracted Net Earning Assets were $3.7 billion, which included $1.1 billion in Total Cash, as of June 30, 2026.

Outlook

For the full-year 2026, Aggregate Subscriber Value is now expected to be in a range of $4.6 billion to $4.9 billion, compared to the company’s prior guidance of $4.8 billion to $5.2 billion.

Cash Generation1,2 is now expected to be in a range of $200 million to $375 million for the full-year 2026, excluding potential investment related to equipment safe harboring, compared to the company’s prior guidance of $250 million to $450 million.

Second Quarter 2026 GAAP Results

Total revenue was $870.0 million in the second quarter of 2026, up $300.7 million, or 53%, from the second quarter of 2025. Customer agreements and incentives revenue was $543.7 million, an increase of $85.7 million, or 19%, compared to the second quarter of 2025. Energy systems and product sales revenue was $326.3 million, an increase of $214.9 million, or 193%, compared to the second quarter of 2025. The increase in Energy systems and product sales revenue is primarily due to a transaction that Sunrun entered into in the third quarter of 2025 whereby certain storage and energy systems subject to newly originated Customer Agreements are sold to a third party. Sunrun continues to maintain the customer experience and servicing relationships and can sell future goods and services to these customers.

Total cost of revenue was $541.8 million, an increase of 21% year-over-year. Total operating expenses were $835.2 million, an increase of 23% compared to the second quarter of 2025.

Net income attributable to common stockholders was $115.2 million, or $0.48 per basic share and $0.42 per diluted share, in the second quarter of 2026.

Conference Call Information

Sunrun is hosting a conference call for analysts and investors to discuss its second quarter 2026 results and business outlook at 1:30 p.m. Pacific Time today, August 5, 2026. A live audio webcast of the conference call along with supplemental financial information will be accessible via the “Investor Relations” section of Sunrun’s website at https://investors.sunrun.com. The conference call can also be accessed live over the phone by dialing (877) 407-5989 (toll-free) or (201) 689-8434 (toll). An audio replay will be available following the call on the Sunrun Investor Relations website for approximately one month.

Footnotes

(1) Cash Generation, Creation Costs Reflected in Operating Expenses, and Creation Costs Reflected in Capital Expenditures are non-GAAP financial measures. See “Non-GAAP Financial Measures” below for a discussion of these measures and reconciliations to the most directly comparable GAAP measures.

(2) The Company is not able to provide reconciliations to certain of its forward-looking measures to comparable GAAP measures because certain items required for such reconciliations are outside of the Company’s control and/or cannot be reasonably predicted without unreasonable effort. The Company encourages investors to review its GAAP financial measures and to not rely on any single financial measure to evaluate our business.

About Sunrun

Sunrun Inc. (Nasdaq: RUN) is America’s largest provider of home battery storage, solar, and home-to-grid power plants. As the pioneer of home energy systems offered through a no-upfront-cost subscription model, Sunrun empowers customers nationwide with greater energy control, security, and independence. Sunrun supports the grid by providing on-demand dispatchable power that helps prevent blackouts and lowers energy costs. Learn more at www.sunrun.com.

Forward Looking Statements

This communication contains forward-looking statements related to Sunrun (the “Company”) within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements related to: the Company’s financial and operating guidance and expectations; the Company’s business plan, growth trajectory, expectations, market leadership, competitive advantages, operational and financial results and metrics (and the assumptions related to the calculation of such metrics); the Company’s expectation that it will exit the year at a robust growth rate and higher unit margins; the Company’s momentum in its business strategies including expectations regarding market share growth in certain geographies, customer value proposition, market penetration, growth of certain divisions and ability to scale offerings, financing activities, financing capacity, product mix, and ability to manage cash flow and liquidity; the Company’s discussion of new products, offerings, and applications, including monetization of the Company’s network for grid programs and emerging data center and grid edge applications; the trajectory of the storage and solar industry; the Company’s business, customer base, and market; and anticipated demand, market acceptance, and market adoption of the Company’s offerings; the Company’s expectations regarding its allocations of and ability to create new streams of Cash Generation; the closing of the Company’s August securitization; and the Company’s aim to leverage its existing energy infrastructure to serve AI-driven electricity demand and create new, high-margin revenue opportunities.  These statements are not guarantees of future performance; they reflect the Company’s current views with respect to future events and are based on assumptions and estimates and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from expectations or results projected or implied by forward-looking statements. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the Company’s continued ability to manage costs and compete effectively; the availability of additional financing on acceptable terms; worldwide economic conditions, including slow or negative growth rates and inflation; volatile or rising interest rates; changes in policies and regulations, including net metering, interconnection limits, and fixed fees, or caps and licensing restrictions and the impact of these changes on the solar industry and the Company’s business; the Company’s ability to attract and retain the Company’s business partners; supply chain risks, including the Company’s and its energy system partners’ dependence on a limited number of suppliers of solar panels, batteries, and other system components and any shortage, bottlenecks, delays, detentions, or component price changes from these suppliers, restrictions on components and materials sourced from designated foreign entities of concern and the Company’s reliance on specific countries for critical components, tariff and trade policy impacts, and raw material availability for solar panels and batteries; realizing the anticipated benefits of past or future investments, partnerships, strategic transactions, or acquisitions, and integrating those acquisitions; the Company’s leadership team and ability to attract and retain key employees; regulators imposing rules on the type of electricians qualified to install and service the Company’s solar and battery systems in California, which may result in workforce shortages, operational delays, and increased costs; changes in the retail prices of traditional utility generated electricity; the availability of rebates, tax credits and other incentives, and the risk that if the IRS makes determinations that the creditable basis of the Company’s energy systems is materially lower than what it has claimed, it may have to pay significant amounts to its fund investors; the Company’s risk of additional taxes owed in respect of lost ITCs and the availability of related insurance coverage; the availability of solar panels, batteries, and other components and raw materials; the Company’s failure or perceived failure to comply with existing or future laws, regulations, contracts, self‑regulatory schemes, standards, and other obligations related to data privacy and security (including security incidents), including where compliance or the actual or perceived failure to comply could increase the costs of its products and services, limit their use or adoption, and otherwise negatively affect our operating results and business; the Company’s business plan and the Company’s ability to effectively manage the Company’s growth and labor constraints; the Company’s ability to meet the covenants in the Company’s investment funds and debt facilities; factors impacting the home electrification and solar industry generally, and such other risks and uncertainties identified in the reports that we file with the U.S. Securities and Exchange Commission from time to time. All forward-looking statements used herein are based on information available to us as of the date hereof, and we assume no obligation to update publicly these forward-looking statements for any reason, except as required by law.

Citations to industry and market statistics used herein may be found in our Investor Presentation, available via the “Investor Relations” section of Sunrun’s website at https://investors.sunrun.com.

Consolidated Balance Sheets
(In Thousands)
       June 30, 2026 December 31, 2025     Assets    Current assets:    Cash $712,425 $823,380Restricted cash  423,812  413,460Accounts receivable, net  235,421  262,627Inventories  649,853  501,286Prepaid expenses and other current assets  144,997  155,216Total current assets  2,166,508  2,155,969Restricted cash  148  148Energy systems, net  17,245,212  16,817,863Property and equipment, net  61,400  75,692Other assets  3,886,099  3,560,924Total assets $23,359,367 $22,610,596Liabilities and total equity    Current liabilities:    Accounts payable $321,422 $271,021Distributions payable to noncontrolling interests and redeemable noncontrolling interests  49,123  47,072Accrued expenses and other liabilities  444,439  518,835Deferred revenue, current portion  162,902  162,839Deferred grants, current portion  9,004  8,681Finance lease obligations, current portion  23,162  24,557Non-recourse debt, current portion  513,397  269,510Total current liabilities  1,523,449  1,302,515Deferred revenue, net of current portion  1,380,846  1,350,494Deferred grants, net of current portion  190,933  196,726Finance lease obligations, net of current portion  24,914  36,908Convertible senior notes  474,780  473,749Line of credit  153,700  238,323Non-recourse debt, net of current portion  14,016,021  13,708,532Other liabilities  188,276  156,199Deferred tax liabilities  198,783  163,176Total liabilities  18,151,702  17,626,622Redeemable noncontrolling interests  816,076  709,255Total stockholders’ equity  3,490,084  3,132,484Noncontrolling interests  901,505  1,142,235Total equity  4,391,589  4,274,719Total liabilities, redeemable noncontrolling interests and total equity $23,359,367 $22,610,596 Consolidated Statements of Operations
(In Thousands, Except Per Share Amounts)
       Three Months Ended June 30, Six Months Ended June 30,   2026   2025   2026   2025 Revenue:        Customer agreements and incentives $543,730  $458,000  $1,011,552  $860,920 Energy systems and product sales  326,258   111,336   580,667   212,687 Total revenue  869,988   569,336   1,592,219   1,073,607 Operating expenses:        Cost of customer agreements and incentives  342,452   345,376   657,194   654,005 Cost of energy systems and product sales  199,312   104,144   387,000   200,942 Sales and marketing  190,681   152,459   369,214   298,449 Research and development  10,234   8,063   20,377   18,042 General and administrative  92,521   71,543   167,156   129,306 Total operating expenses  835,200   681,585   1,600,941   1,300,744 Income (loss) from operations  34,788   (112,249)  (8,722)  (227,137)Interest expense, net  (264,428)  (247,137)  (528,371)  (474,571)Other income (expense), net  17,495   (14,528)  34,681   (59,927)Loss before income taxes  (212,145)  (373,914)  (502,412)  (761,635)Income tax (benefit) expense  (3,972)  (94,930)  3,094   (205,480)Net loss  (208,173)  (278,984)  (505,506)  (556,155)Net loss attributable to noncontrolling interests and redeemable noncontrolling interests  (323,325)  (558,757)  (788,302)  (885,939)Net income attributable to common stockholders $115,152  $279,773  $282,796  $329,784 Net income per share attributable to common stockholders        Basic $0.48  $1.22  $1.19  $1.45 Diluted $0.42  $1.07  $1.04  $1.28 Weighted average shares used to compute net income per share attributable to common stockholders        Basic  238,997   229,167   236,804   227,794 Diluted  273,999   261,152   273,189   259,539  Consolidated Statements of Cash Flows
(In Thousands)       Three Months Ended June 30, Six Months Ended June 30,   2026   2025   2026   2025 Operating activities:        Net loss $(208,173) $(278,984) $(505,506) $(556,155)Adjustments to reconcile net loss to net cash used in operating activities:        Depreciation and amortization, net of amortization of deferred grants  192,788   189,713   382,344   359,603 Deferred income taxes  (3,973)  (96,103)  3,094   (206,653)Stock-based compensation expense  21,119   25,024   47,421   50,029 Unrealized (gain) loss on derivatives  (24,951)  17,555   (43,317)  62,625 Other noncash items  93,239   77,307   173,036   138,806 Changes in operating assets and liabilities:        Accounts receivable  (9,932)  (20,233)  12,154   (27,139)Inventories  (101,391)  (76,748)  (70,495)  (89,066)Prepaid expenses and other assets  (112,096)  (208,568)  (249,985)  (254,329)Accounts payable  (9,420)  51,982   69,290   36,364 Accrued expenses and other liabilities  (36,626)  (26,927)  (52,733)  983 Deferred revenue  11,279   53,323   28,522   88,067 Deferred tax liabilities  1,958   —   30,619   — Net cash used in operating activities  (186,179)  (292,659)  (175,556)  (396,865)Investing activities:        Payments for the costs of energy systems  (429,357)  (691,978)  (853,785)  (1,346,780)Purchase of equity investment  (15,536)  —   (19,253)  — Purchases of property and equipment, net  (4,287)  (843)  (4,696)  (1,062)Net cash used in investing activities  (449,180)  (692,821)  (877,734)  (1,347,842)Financing activities:        Proceeds from state tax credits, net of recapture  —   9,668   12,384   9,668 Proceeds from trade receivable financing  —   71,323   —   71,323 Repayment of trade receivable financing  —   (99,519)  —   (124,261)Proceeds from line of credit  1,500   1,862   184,000   150,686 Repayment of line of credit  —   (23,833)  (268,622)  (198,390)Repurchase of convertible senior notes  —   —   (5,457)  (2,124)Proceeds from issuance of non-recourse debt  1,451,151   527,800   2,259,156   2,048,429 Repayment of non-recourse debt  (1,173,649)  (75,266)  (1,839,323)  (913,749)Payment of debt fees  (24,709)  (240)  (42,947)  (28,258)Payment of finance lease obligations  (6,145)  (6,303)  (12,266)  (12,786)Contributions received from noncontrolling interests and redeemable noncontrolling interests  515,744   679,384   821,556   935,284 Distributions paid to noncontrolling interests and redeemable noncontrolling interests  (72,635)  (58,547)  (148,285)  (118,800)Acquisition of noncontrolling interests  (16,878)  (16,219)  (16,878)  (16,219)Proceeds from transfer of investment tax credits  306,504   236,098   646,614   860,874 Payments to redeemable noncontrolling interests and noncontrolling interests of investment tax credits  (306,504)  (236,098)  (646,614)  (860,874)Net proceeds related to stock-based award activities  8,094   8,544   9,369   8,565 Net cash provided by financing activities  682,473   1,018,654   952,687   1,809,368 Net change in cash and restricted cash  47,114   33,174   (100,603)  64,661 Cash and restricted cash, beginning of period  1,089,271   978,903   1,236,988   947,416 Cash and restricted cash, end of period $1,136,385  $1,012,077  $1,136,385  $1,012,077  Non-GAAP Financial Measures  This press release includes the Company’s non-GAAP financial measures: Creation Costs Reflected in Operating Expenses, Creation Costs Reflected in Capital Expenditures, and Cash Generation. The Company utilizes these non-GAAP measures to analyze the Company’s performance and for internal planning and forecasting purposes. These non-GAAP financial measures should not be considered in isolation or as a substitute for the Company’s financial results as reported under GAAP. Additionally, these non-GAAP measures may not be comparable to similarly titled measures presented by other companies, thus reducing their usefulness. Accompanying schedules provide reconciliations of these non-GAAP financial measures to their most directly comparable GAAP measures. The Company is not able to provide reconciliations of certain forward-looking financial measures to comparable GAAP measures because certain items required for such reconciliations are outside of the Company's control and/or cannot be reasonably predicted without unreasonable effort. The Company encourages investors to review our GAAP financial measures and to not rely on any single financial measure to evaluate our business.

Creation Costs Reflected in Operating Expenses is a Non-GAAP measure that management utilizes to assess the operating performance of our ongoing operations associated with the origination and installation of solar and storage systems. Creation Costs Reflected in Operating Expenses represent total operating expenses, adjusted for certain items consistent with management’s use as a performance measure. The adjusting items are detailed in the Reconciliation of Total Operating Expenses to Creation Costs Reflected in Operating Expenses table below. The Company believes that Creation Costs Reflected in Operating Expenses, when viewed together with the corresponding GAAP financial measure, provides meaningful information to our investors by measuring our operating performance with respect to costs associated with the origination and installation of storage and solar systems. When evaluating performance, investors should consider Creation Costs Reflected in Operating Expenses in addition to, though not as a substitute for, the Company’s financial results as reported under GAAP, including total operating expenses.

Reconciliation of Total Operating Expenses to Creation Costs Reflected in Operating Expenses2Q25
 3Q25
 4Q25
 1Q26
 2Q26
 $ millions, unless otherwise noted      Total Operating Expenses$682 $721 $1,061 $766 $835  (-)
Fleet servicing cost in COGS$(61)$(58)$(56)$(46)$(57) (-)
Non-cash impairment of energy systems, net$(21)$(1)$(28)$(12)$(15) (-)
Depreciation & Amortization$(190)$(182)$(184)$(190)$(193) (-)
Amortization of CTOC (sales commissions) in S&M expense$(23)$(26)$(24)$(26)$(27) (-)
Cost of Energy Systems and Product Sales (Excluding Non-Retained or Partially Retained Subscribers)$(104)$(104)$(109)$(80)$(54) (-)
Gross profit from Systems & Product Sales (Excluding Non-Retained or Partially Retained Subscribers) as contra cost$(7)$(14)$(15)$(1)$(5) (-)
Non-cash stock based compensation expense$(25)$(30)$(28)$(26)$(21) (-)
Goodwill impairment$- $- $- $- $-  (-)
Amortization of intangible assets$- $- $- $- $-  (-)
Other adjustments (e.g., restructuring, legal)$(6)$(2)$(1)$(16)$(13) (+)Adjustments to reflect purchase price adjustment for Non-Retained or Partially Retained Subscribers owing to consigned inventory usage$- $- $- $- $19  Creation Costs Reflected in Operating Expenses$245 $305 $617 $368 $469  Note: Creation Costs Reflected in Operating Expenses uses inputs from the Company’s GAAP income statement, and as such, is presented on an accrual basis.   Creation Costs Reflected in Capital Expenditures is a Non-GAAP measure that management utilizes to assess the operating performance of our ongoing operations associated with the origination and installation of solar and storage systems. Creation Costs Reflected in Capital Expenditures represent Net cash used in investing activities, adjusted for certain items consistent with management’s use as a performance measure. The adjusting items are detailed in the Reconciliation of Net Cash Used in Investing Activities to Creation Costs Reflected in Capital Expenditures table below. The Company believes that Creation Costs Reflected in Capital Expenditures, when viewed together with the corresponding GAAP financial measure, provides meaningful information to our investors by measuring our operating performance with respect to costs associated with the origination and installation of storage and solar systems. When evaluating performance, investors should consider Creation Costs Reflected in Capital Expenditures in addition to, though not as a substitute for, the Company’s financial results as reported under GAAP, including Net cash used in investing activities.

Reconciliation of Net Cash Used in Investing Activities to Creation Costs Reflected in Capital Expenditures2Q253Q254Q251Q26
 2Q26
 $ millions, unless otherwise noted      Net cash used in investing activities$693$744$409$429 $449  (+)Additions to capitalized CTOC (sales commissions)$126$133$21$79 $85  (-)
Purchase of equity method investment$-$-$-$(4)$(16) Creation Costs Reflected in Capital Expenditures$818$877$430$503 $519  Note: Creation Costs Reflected in Capital Expenditures uses inputs from the Company’s Statement of Cash Flows, and as such, is presented using a cash basis of accounting.   Cash Generation is a Non-GAAP measure that management utilizes to assess the Company’s financial performance as it relates to raising capital from non-recourse capital sources relative to the cost of originating new customers, working capital management, and other cash flows associated with Sunrun's business activities. Cash Generation represents Net cash provided by (used in) operating activities, adjusted for certain items consistent with management’s use as a performance measure. The adjusting items are detailed in the Reconciliation of Cash Provided by Operating Activities to Cash Generation table below. The Company believes that Cash Generation, when viewed together with the corresponding GAAP financial measure, provides meaningful information to our investors by measuring our financial performance with respect to our ability to raise capital and effectively balance working capital requirements associated with our ongoing operations associated with the origination and installation of solar and storage systems. The Company uses Cash Generation as one of the performance metrics in its executive incentive compensation plan, underscoring management's focus on delivering sustainable cash flow while continuing to grow the business. When evaluating performance, investors should consider Cash Generation in addition to, though not as a substitute for, the Company’s financial results as reported under GAAP, including Net cash provided by (used in) operating activities.

Reconciliation of Cash Provided by Operating Activities to Cash Generation2Q25
 3Q25
 4Q25
 1Q26
 2Q26
 $ millions, unless otherwise noted      Net cash provided by (used in) operating activities$ (293)$ (122)$ 97 $ 11 $ (186) (-)
Payments for the costs of energy systems$(692)$(742)$(410)$(424)$(429) (-)
Purchase of equity investment$- $- $- $(4)$(16) (-)
Purchases of property and equipment, net$(1)$(1)$1 $(0)$(4) (+)Proceeds from state tax credits, net of recapture$10 $- $- $12 $-  (+)Proceeds from trade receivables financing$71 $96 $- $- $-  (-)
Repayment of trade receivable financing$(100)$(71)$(96)$- $-  (+)Proceeds from issuance of non-recourse debt$528 $1,848 $215 $808 $1,451  (-)
Repayment of non-recourse debt$(75)$(1,257)$(115)$(666)$(1,174) (-)
Payment of debt fees$(0)$(36)$(4)$(18)$(25) (+)Proceeds from pass-through financing and other obligations, net$- $- $- $- $-  (-)
Repayment of pass-through financing obligation$- $- $- $- $-  (-)
Payment of finance lease obligations$(6)$(6)$(6)$(6)$(6) (+)Contributions received from noncontrolling interests and redeemable noncontrolling interests$679 $525 $542 $306 $516  (-)
Distributions paid to noncontrolling interest and redeemable noncontrolling interests$(59)$(58)$(70)$(76)$(73) (-)
Acquisition of noncontrolling interest$(16)$(14)$(0)$- $(17) (+)Proceeds from transfer of investment tax credits$236 $296 $446 $340 $307  (+)Payments to redeemable noncontrolling interest and noncontrolling interests of investment tax credits$(236)$(296)$(446)$(340)$(307) (-)
Increase / (+) decrease in Restricted Cash$(20)$(53)$33 $4 $(14) (+/-)Changes in 2026 convertible senior notes reserve balance$- $- $- $(5)$-  Cash Generation ($ millions)$ 27 $ 108 $ 187 $ (59)$ 23  Key Operating and Financial Metrics  The following operating metrics are used by management to evaluate the performance of the business. Management believes these metrics, when taken together with other information contained in our filings with the SEC and within this press release, provide investors with helpful information to determine the economic performance of the business activities in a period that would otherwise not be observable from historic GAAP measures. Management believes that it is helpful to investors to evaluate the present value of cash flows expected from subscribers over the full expected relationship with such subscribers (“Subscriber Value”, more fully defined in the definitions appendix below). The Company also believes that Subscriber Value, Aggregate Subscriber Value, Creation Costs Reflected in Operating Expenses, Creation Costs Reflected in Capital Expenditures, Net Subscriber Value, Contracted Net Subscriber Value and Upfront Net Subscriber Value are useful metrics for investors because they present a view of unit economics the Company uses to assess customers originated in a period, inclusive of expected future cash flows from these customers over a 30-year period, based on contracted pricing terms with its customers, which is not observable in any current or historic GAAP-derived metric. Management believes it is useful for investors to also evaluate the future expected cash flows from all customers that have been deployed through the respective measurement date, less estimated costs to maintain such systems and estimated distributions to tax equity partners in consolidated joint venture partnership flip structures, and distributions to project equity investors (“Gross Earning Assets”, more fully defined in the definitions appendix below). The Company also believes Gross Earning Assets is useful for management and investors because it represents the remaining future expected cash flows from existing customers, which is not derivable from a current or historic GAAP-derived measure.

Various assumptions are made when calculating these metrics. Subscriber Value metrics are calculated using a discount rate based on the observed project-level capital costs in the period. Gross Earning Assets utilize a 6% rate to discount future cash flows to the present period. Furthermore, these metrics assume that Subscribers renew after the initial contract period at a rate equal to 90% of the rate in effect at the end of the initial contract term, or purchase their systems at equal values. For Customer Agreements with 25-year initial contract terms, a 5-year renewal period is assumed. For a 20-year initial contract term, a 10-year renewal period is assumed. In all instances, we assume a 30-year customer relationship, although the customer may renew for additional years, or purchase the system. Estimated cost of servicing assets has been deducted and is estimated based on the service agreements underlying each fund.

KEY OPERATING METRICSUnit Economics in Period2Q25
 3Q25
 4Q25
 1Q26
 2Q26
 $ per Subscriber Addition, unless otherwise noted      Subscriber Additions in period 28,823  30,104  25,475  17,665  19,793  Subscriber Value$53,891 $52,446 $50,165 $61,240 $59,377  Discount rate (observed project-level capital costs) 7.4% 7.3% 7.1% 6.3% 7.3% Contracted Subscriber Value$49,919 $48,507 $47,988 $55,464 $55,033  x Advance Rate on Contracted Subscriber Value (estimated) 85.3% 88.2% 91.2% 98.2% 94.4% = Upfront Proceeds (estimated)$42,598 $42,763 $43,758 $54,484 $51,949         = Upfront Net Subscriber Value$5,711 $3,522 $2,692 $5,136 $2,016  Upfront Net Subscriber Value margin as a % of Contracted Subscriber Value 11.4% 7.3% 5.6% 9.3% 3.7%Aggregate Gross Value and Costs in Period2Q25
 3Q25
 4Q25
 1Q26
 2Q26
 $ millions, unless otherwise noted      Aggregate Subscriber Value$1,553 $1,579 $1,278 $1,082 $1,175  Aggregate Contracted Subscriber Value$1,439 $1,460 $1,222 $980 $1,089  Aggregate Upfront Proceeds (estimated)$1,228 $1,287 $1,115 $962 $1,028         Creation Costs Reflected in Operating Expenses1$245 $305 $617 $368 $469  Creation Costs Reflected in Capital Expenditures1$818 $877 $430 $503 $519         Cash Generation1$27 $108 $187 $(59)$23 Volume Additions in Period2Q25
 3Q25
 4Q25
 1Q26
 2Q26
  Storage Capacity Installed (MWhrs) 391.5  412.0  371.1  282.3  332.0  Solar Capacity Installed (MWs) 227.2  239.2  216.2  154.2  174.3  Solar Capacity Installed with Storage (MWs) 157.7  172.4  157.1  115.9  133.8  Solar Capacity Installed without Storage (MWs) 69.5  66.8  59.1  38.2  40.5  Customer Additions 30,810  32,833  27,773  18,948  20,979  Customer Additions with Storage 21,626  22,822  19,639  13,789  15,531  Customer Additions without Storage 9,184  10,011  8,134  5,159  5,448  Storage Attachment Rate 70% 70% 71% 73% 74% Subscriber Additions (included within Customer Additions) 28,823  30,104  25,475  17,665  19,793  Subscriber Additions as % of Customer Additions 94% 92% 92% 93% 94%Customer Base Value & Energy Capacity at End of Period6/30/2025
 9/30/2025
 12/31/2025
 3/31/2026
 6/30/2026
  Net Earning Assets ($ millions)$7,632 $8,241 $8,538 $8,872 $9,004  Contracted Net Earning Assets ($ millions)$3,001 $3,373 $3,571 $3,701 $3,677  Customers 1,105,080  1,137,913  1,165,686  1,184,634  1,205,613  Subscribers (included within Customers) 941,701  971,805  997,280  1,014,945  1,034,738  Networked Storage Capacity (MWhrs) 3,250  3,662  4,033  4,315  4,647  Networked Solar Capacity (MWs) 7,949  8,188  8,404  8,558  8,732 Basic Shares Outstanding2Q25
 3Q25
 4Q25
 1Q26
 2Q26
  Basic shares outstanding at end of period (in millions) 230.3  231.6  233.6  235.5  240.1  Weighted average basic shares outstanding in period (in millions) 229.2  231.0  232.6  234.6  239.0                   Figures presented above may not sum due to rounding. For adjustments related to Subscriber Value, Creation Costs Reflected in Operating Expenses, and Creation Costs Reflected in Capital Expenditures, please see the supplemental materials available on the Sunrun Investor Relations website at investors.sunrun.com.

(1) Creation Costs Reflected in Operating Expenses, Creation Costs Reflected in Capital Expenditures, and Cash Generation are non-GAAP financial measures. See “Non-GAAP Financial Measures” above for a discussion of these measures and reconciliations to the most directly comparable GAAP measures.

Glossary of Terms*

Definitions for Volume-related Terms

Deployments represent solar or storage systems, whether sold directly to customers or subject to executed Customer Agreements (i) for which we have confirmation that the systems are installed, subject to final inspection, or (ii) in the case of certain system installations by our partners, for which we have accrued at least 80% of the expected project cost (inclusive of acquisitions of installed systems). A portion of customers have subsequently entered into Customer Agreements to obtain, or have directly purchased, additional solar or storage systems at the same host customer site, and since these represent separate assets, they are considered separate Deployments.

Customer Agreements refer to, collectively, solar and/or storage power purchase agreements and leases.

Retained Subscribers represent customers subject to Customer Agreements for solar and/or storage systems that have been recognized as Deployments and recognized as energy systems on Sunrun’s consolidated balance sheet, whether or not they continue to be active.

Non-Retained or Partially Retained Subscribers represent customers subject to Customer Agreements for solar and/or storage systems that have been recognized as Deployments whereby the assets have been fully or partially sold to one or more investors and not presented as an energy system on Sunrun’s consolidated balance sheet.

Subscribers represent aggregate Retained Subscribers and Non-Retained or Partially Retained Subscribers.

Purchase Customers represent customers who purchased, whether outright or with proceeds from third-party loans, solar and/or storage systems that have been recognized as Deployments.

Customers represent aggregate Subscribers and Purchase Customers.

Subscriber Additions represent the number of Subscribers added in a period.

Purchase Customer Additions represent the number of Purchase Customers added in a period.

Customer Additions represent Subscriber Additions plus Purchase Customer Additions.

Solar Capacity Installed represents the aggregate megawatt production capacity of solar energy systems that were recognized as Deployments in a period.

Storage Capacity Installed represents the aggregate megawatt hour capacity of storage systems that were recognized as Deployments in a period.

Networked Solar Capacity represents the cumulative Solar Capacity Installed from the company’s inception through the measurement date.

Networked Storage Capacity represents the cumulative Storage Capacity Installed from the company’s inception through the measurement date.

Storage Attachment Rate represents Customer Additions with storage divided by total Customer Additions.

Definitions for Unit-based and Aggregate Value, Costs and Margin Terms

Subscriber Value represents Contracted Subscriber Value plus Non-contracted or Upside Subscriber Value.

Contracted Subscriber Value represents the per Subscriber present value of estimated upfront and future Contracted Cash Flows from Subscriber Additions in a period, discounted at the observed cost of capital in the period.

Non-contracted or Upside Subscriber Value represents the per Subscriber present value of estimated future Non-contracted or Upside Cash Flows from Subscriber Additions in a period, discounted at the observed cost of capital in the period.

Contracted Cash Flows represent, (A) for Retained Subscribers, (x) (1) scheduled payments from Subscribers during the initial terms of the Customer Agreements (provided, that for Flex Customer Agreements that allow variable billings based on the amount of electricity consumed by the Subscriber, only the minimum contracted payment is included in Contracted Cash Flows), (2) net proceeds from tax equity partners, (3) payments from government and utility incentive and rebate programs, (4) contracted net cash flows from grid services programs with utilities or grid operators, and (5) contracted or defined (i.e., with fixed pricing) cash flows from the sale of renewable energy credits, less (y) (1) estimated operating and maintenance costs to service the systems and replace equipment over the initial terms of the Customer Agreements, consistent with estimates by independent engineers, (2) distributions to tax equity partners in consolidated joint venture partnership flip structures, and (3) distributions to any project equity investors, and (B) for Non-Retained or Partially Retained Subscribers, (x) contracted proceeds from the full or partial sale of related assets, before any price adjustments related to consigned inventory usage, plus (y) the share of Contracted Cash Flows described in clause (A) of this definition which are allocated to Sunrun pursuant to the terms of each sale agreement or partnership agreement.

Non-contracted or Upside Cash Flows represent (A) for Retained Subscribers the (1) net cash flows realized from either the purchase of systems at the end of the Customer Agreement initial terms or renewals of Customer Agreements beyond the initial terms, estimated in both cases to have equivalent value, assuming only a 30-year relationship and a contract renewal rate equal to 90% of each Subscriber’s contractual rate in effect at the end of the initial contract term, (2) non-contracted net cash flows from grid service programs with utilities and grid operators, (3) non-contracted net cash flows from the sale of renewable energy credits, and (4) contracted cash flows from Flex Customer Agreements exceeding the minimum contracted payment (provided, that for Flex Customer Agreements that allow variable billings based on the amount of electricity consumed by the Subscriber, an assumption is made that each Subscriber’s electricity consumption increases by approximately 2% per year through the end of the initial term of the Customer Agreement and into the renewal period (if renewed), resulting in billings in excess of the minimum contracted amount (which minimums are included in Contracted Cash Flows)), and (B) for Non-Retained or Partially Retained Subscribers, the share of Non-contracted or Upside Cash Flows described in clause (A) of this definition which are allocated to Sunrun pursuant to the terms of each sale agreement or partnership agreement. After the initial contract term, our Customer Agreements typically automatically renew on an annual basis and the rate is initially set at up to a 10% discount to then-prevailing utility power prices.

Creation Costs Reflected In Operating Expenses (Non-GAAP measure) represent total operating expenses, adjusted for certain items consistent with management’s use as a performance measure, all of which are itemized in the Non-GAAP reconciliation table as provided in the Company’s earnings release. Creation Costs Reflected In Operating Expenses may be derived by taking total operating expenses incurred in a period, and adjusting by: (A) excluding the following items: (i) fleet servicing costs; (ii) non-cash net impairment of energy systems; (iii) depreciation and amortization expense; (iv) amortization of costs to obtain contracts, which represents the amortization expense of sales commissions; (v) cost of energy system and product sales not pertaining to Non-retained or Partially Retained Subscribers; (vi) gross profit from system & product sales not pertaining to Non-retained or Partially Retained Subscribers; (vii) stock based compensation expense; (viii) goodwill impairment expense; (ix) amortization of intangible assets; and (x) costs associated with certain restructuring activities, amortization of previously capitalized insurance costs associated with tax credit transfer agreements, and one-time items are identified and excluded; and (B) including any purchase price adjustments for Non-retained or Partially Retained Subscribers owing to consigned inventory usage. When presented on a per Subscriber Addition basis, Creation Costs Reflected in Operating Expenses is divided by the Subscriber Additions for the corresponding period.

Creation Costs Reflected In Capital Expenditures (Non-GAAP measure) represent total capital expenditures, adjusted for certain items consistent with management’s use as a performance measure, all of which are itemized in the Non-GAAP reconciliation table as provided in the Company’s earnings release. Creation Costs Reflected In Capital Expenditures may be derived by taking net cash used in investing activities and adjusting to include the gross additions to capitalized costs to obtain contracts (i.e., sales commissions) and to exclude cash used for the purchase of equity investments. As such, this measure represents the sum of the following items: (i) payments for the costs of energy systems, (ii) net purchases of property and equipment, and (iii) gross additions to capitalized costs to obtain contracts (i.e., sales commissions). When presented on a per Subscriber Addition basis, Creation Costs Reflected in Capital Expenditures is divided by the Subscriber Additions for the corresponding period.

Net Subscriber Value represents Subscriber Value less the summation of the following items divided by Subscriber Additions: (A) payments for the costs of energy systems; (B) net purchases of property and equipment; (C) gross additions to capitalized costs to obtain contracts (i.e., sales commissions); (D) total operating expenses, adjusted to exclude the following items: (i) fleet servicing costs; (ii) non-cash net impairment of energy systems; (iii) depreciation and amortization expense; (iv) amortization of costs to obtain contracts, which represents the amortization expense of sales commissions; (v) cost of energy system and product sales not pertaining to Non-retained or Partially Retained Subscribers; (vi) gross profit from system & product sales not pertaining to Non-retained or Partially Retained Subscribers; (vii) stock based compensation expense; (viii) goodwill impairment expense; (ix) amortization of intangible assets; and (x) costs associated with certain restructuring activities, amortization of previously capitalized insurance costs associated with tax credit transfer agreements, and one-time items are identified and excluded; and to include any purchase price adjustments for Non-retained or Partially Retained Subscribers owing to consigned inventory usage.

Contracted Net Subscriber Value represents Contracted Subscriber Value less the summation of the following items divided by Subscriber Additions: (A) payments for the costs of energy systems; (B) net purchases of property and equipment; (C) gross additions to capitalized costs to obtain contracts (i.e., sales commissions); (D) total operating expenses, adjusted to exclude the following items: (i) fleet servicing costs; (ii) non-cash net impairment of energy systems; (iii) depreciation and amortization expense; (iv) amortization of costs to obtain contracts, which represents the amortization expense of sales commissions; (v) cost of energy system and product sales not pertaining to Non-retained or Partially Retained Subscribers; (vi) gross profit from system & product sales not pertaining to Non-retained or Partially Retained Subscribers; (vii) stock based compensation expense; (viii) goodwill impairment expense; (ix) amortization of intangible assets; and (x) costs associated with certain restructuring activities, amortization of previously capitalized insurance costs associated with tax credit transfer agreements, and one-time items are identified and excluded; and to include any purchase price adjustments for Non-retained or Partially Retained Subscribers owing to consigned inventory usage.

Upfront Net Subscriber Value represents Contracted Subscriber Value multiplied by Advance Rate less the summation of the following items divided by Subscriber Additions: (A) payments for the costs of energy systems; (B) net purchases of property and equipment; (C) gross additions to capitalized costs to obtain contracts (i.e., sales commissions); (D) total operating expenses, adjusted to exclude the following items: (i) fleet servicing costs; (ii) non-cash net impairment of energy systems; (iii) depreciation and amortization expense; (iv) amortization of costs to obtain contracts, which represents the amortization expense of sales commissions; (v) cost of energy system and product sales not pertaining to Non-retained or Partially Retained Subscribers; (vi) gross profit from system & product sales not pertaining to Non-retained or Partially Retained Subscribers; (vii) stock based compensation expense; (viii) goodwill impairment expense; (ix) amortization of intangible assets; and (x) costs associated with certain restructuring activities, amortization of previously capitalized insurance costs associated with tax credit transfer agreements, and one-time items are identified and excluded; and to include any purchase price adjustments for Non-retained or Partially Retained Subscribers owing to consigned inventory usage.

Advance Rate or Advance Rate on Contracted Subscriber Value represents the company’s estimated upfront proceeds, expressed as a percentage of Contracted Subscriber Value or Aggregate Contracted Subscriber Value, from project-level capital, proceeds from Non-Retained or Partially Retained Subscribers, and other upfront cash flows, based on market terms and observed cost of capital in a period.

Aggregate Subscriber Value represents Subscriber Value multiplied by Subscriber Additions.

Aggregate Contracted Subscriber Value represents Contracted Subscriber Value multiplied by Subscriber Additions.

Aggregate Upfront Proceeds represent Aggregate Contracted Subscriber Value multiplied by Advance Rate. Actual project financing transaction timing for portfolios of Subscribers may occur in a period different from the period in which Subscribers are recognized, and may be executed at different terms. As such, Aggregate Upfront Proceeds are an estimate based on capital markets conditions present during each period and may differ from ultimate Proceeds Realized in respect of such period’s Retained Subscribers and ultimate proceeds obtained from such period’s Non-Retained or Partially Retained Subscribers.

Proceeds Realized From Retained Subscribers represents cash flows received in respect of Retained Subscribers from non-recourse financing partners in addition to upfront customer prepayments, incentives and rebates. It is calculated as the proceeds from non-controlling interests on the cash flow statement, plus the net proceeds from non-recourse debt (excluding normal non-recourse debt amortization for existing debt, as such debt is serviced by cash flows from existing solar and storage assets), plus the gross additions to deferred revenue which represents customer payments for prepaid Customer Agreements along with local rebates and incentive programs.

Cash Generation (Non-GAAP measure) represents Net cash provided by operating activities, less cash used in investing activities, less increases in restricted cash (or plus decreases in restricted cash), plus the following items: (i) net proceeds from non-recourse debt financings; (ii) net proceeds from tax equity (non-controlling interests and proceeds from sale of investment tax credits); (iii) net proceeds from state tax credits; (iv) net proceeds from trade receivable financings; and (v) net proceeds from pass-through financing obligations and finance lease obligations. Cash Generation can also be calculated through the change in our unrestricted cash balance from our consolidated balance sheet, less net proceeds (or plus net repayments) from all recourse debt (inclusive of convertible debt), and less any primary equity issuances or net proceeds derived from employee stock award activity (or plus any stock buybacks or dividends paid to common stockholders) as presented on the Company’s consolidated statement of cash flows. The Company expects to continue to raise proceeds from tax equity and asset-level non-recourse debt, and proceeds from the sale of Non-Retained or Partially Retained Subscribers, to fund growth, and as such, these sources of cash are included in the definition of Cash Generation. Cash Generation also excludes proceeds from long-term asset or business divestitures (aside from transactions relating to Non-Retained or Partially Retained Subscribers) and equity investments in external non-consolidated businesses not related to Non-Retained or Partially Retained Subscribers (or less dividends or distributions received in connection with such equity investments).

Definitions for Gross and Net Value from Existing Customer Base Terms

Gross Earning Assets is calculated as Contracted Gross Earning Assets plus Non-contracted or Upside Gross Earning Assets.

Contracted Gross Earning Assets represents, as of any measurement date, the present value of estimated remaining Contracted Cash Flows that we expect to receive in future periods in relation to Subscribers as of the measurement date, discounted at 6%.

Non-contracted or Upside Gross Earning Assets represents, as of any measurement date, the present value of estimated Non-contracted or Upside Cash Flows that we expect to receive in future periods in relation to Subscribers as of the measurement date, discounted at 6%.

Net Earning Assets represents Gross Earning Assets, plus Total Cash, less adjusted debt and lease pass-through financing obligations, as of the measurement date. Debt is adjusted to exclude a pro-rata share of non-recourse debt associated with funds with project equity structures for Retained Subscribers along with debt associated with the company’s ITC safe harboring equipment inventory facility. Because estimated cash distributions to our project equity partners for Retained Subscribers are deducted from Gross Earning Assets, a proportional share of the corresponding project level non-recourse debt is deducted from Net Earning Assets, as such debt would be serviced from cash flows already excluded from Gross Earning Assets.

Contracted Net Earning Assets represents Net Earning Assets less Non-contracted or Upside Gross Earning Assets.

Non-contracted or Upside Net Earning Assets represents Net Earning Assets less Contracted Net Earning Assets.

Total Cash represents the total of the restricted cash balance and unrestricted cash balance from our consolidated balance sheet.

Other Terms

Annual Recurring Revenue represents revenue arising from Customer Agreements over the following twelve months for Retained Subscribers that have met initial revenue recognition criteria as of the measurement date.

Average Contract Life Remaining represents the average number of years remaining in the initial term of Customer Agreements for Retained Subscribers that have met revenue recognition criteria as of the measurement date.

Households Served in Low-Income Multifamily Properties represent the number of individual rental units served in low-income multi-family properties from shared solar energy systems deployed by Sunrun. Households are counted when the solar energy system has interconnected with the grid, which may differ from Deployment recognition criteria.

Positive Environmental Impact from Customers represents the estimated reduction in carbon emissions as a result of energy produced from our Networked Solar Capacity over the trailing twelve months. The figure is presented in millions of metric tons of avoided carbon emissions and is calculated using the Environmental Protection Agency’s AVERT tool. The figure is calculated using the most recent published tool from the EPA, using the current-year avoided emission factor for distributed resources on a state by state basis. The environmental impact is estimated based on the system, regardless of whether or not Sunrun continues to own the system or any associated renewable energy credits.

Positive Expected Lifetime Environmental Impact from Customer Additions represents the estimated reduction in carbon emissions over thirty years as a result of energy produced from solar energy systems that were recognized as Deployments in a period. The figure is presented in millions of metric tons of avoided carbon emissions and is calculated using the Environmental Protection Agency’s AVERT tool. The figure is calculated using the most recent published tool from the EPA, using the current-year avoided emission factor for distributed resources on a state by state basis, leveraging our estimated production figures for such systems, which degrade over time, and is extrapolated for 30 years. The environmental impact is estimated based on the system, regardless of whether or not Sunrun continues to own the system or any associated renewable energy credits.

*For our second quarter of 2026, the definitions listed below have been modified, and the changes to these definitions had no impact on previously reported quarters: Net Subscriber Value, Contracted Net Subscriber Value, Upfront Net Subscriber Value, and Cash Generation.

Investor & Analyst Contacts:

Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
[email protected]

Bronson Fleig
Director, Finance & Investor Relations
[email protected]

Media Contact:

Wyatt Semanek
Sr. Director, Corporate Communications
[email protected]

August 04, 2026 18:00 ET  | Source: Sunrun Inc.

SAN FRANCISCO, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America’s largest provider of home battery storage, solar, and home-to-grid power plants, today announced it has priced a securitization of leases and power purchase agreements. The securitization is Sunrun’s seventeenth securitization since 2015 and second issuance in 2026.

“This $267 million public securitization involves refinancing a seasoned portfolio of residential solar assets. We appreciate our financial partners’ continued confidence in our high quality assets and servicing standards,” said Danny Abajian, Sunrun’s Chief Financial Officer. “This securitization was raised with Class A notes being priced at a 200 basis point credit spread, a 20 basis point improvement from the public Class A-1 Notes in Sunrun’s April 2026 securitization.”

The securitization was structured with one class of A- rated notes (the “Class A Notes”) and one class of BB- rated notes (the “Class B Notes”). The Class B Notes were retained by Sunrun. The $267 million Class A Notes were marketed in a public asset backed securitization. The Class A Notes were priced with a coupon of 6.28%. The pricing of the Class A Notes reflects a spread of 200 basis points and a 6.33% yield. The initial balance of the Class A Notes represents a 74.2% advance rate on ADSAB (present value using a 7.5% discount rate). The Class A Notes have an expected weighted average life of 4.94 years, an Optional Redemption Date of July 30, 2035, and a final maturity date of January 30, 2054.

The notes are backed by a diversified portfolio of 37,595 systems distributed across 42 utility service territories in 13 states. The weighted average customer FICO is 756. The transaction is expected to close by the end of August.

BofA Securities was the sole structuring agent and served as joint bookrunner with Citigroup, Morgan Stanley, and RBC Capital Markets. KeyBanc Capital Markets and First Citizens Capital Securities served as co-managers for the securitization.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Sunrun

Sunrun Inc. (Nasdaq: RUN) is America’s largest provider of home battery storage, solar, and home-to-grid power plants. As the pioneer of home energy systems offered through a no-upfront-cost subscription model, Sunrun empowers customers nationwide with greater energy control, security, and independence. Sunrun supports the grid by providing on-demand dispatchable power that helps prevent blackouts and lowers energy costs. Learn more at www.sunrun.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned against placing undue reliance on such statements. In some cases, you can identify forward-looking statements because they contain words such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "target," "projects," "contemplates," "potential," or the negative of these words or other similar terms or expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding: the anticipated closing of the securitization; the anticipated terms and timing of additional subordinated subsidiary-level non-recourse financing and its effect on the Company’s cumulative advance rate; the Company's ability to access capital markets at scale and on favorable terms; and the expected demand for the Company's solar and storage assets.

These statements are not guarantees of future performance; they reflect the Company's current views with respect to future events and are based on assumptions and estimates and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from expectations or results projected or implied by forward-looking statements. These risks and uncertainties include, but are not limited to: changes in the capital markets, including the availability and terms of financing for the solar and storage industry; volatile or rising interest rates; changes in policies, regulations, and incentives, including net metering, interconnection limits, fixed fees, and the availability of tax credits; tariff and trade policy impacts; supply chain risks; the Company's ability to meet covenants in its investment funds and debt facilities; and the factors described under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q, each as filed with the U.S. Securities and Exchange Commission.

All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company assumes no obligation to update publicly these forward-looking statements for any reason, except as required by law.

Investor & Analyst Contacts:

Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
[email protected]

Media Contact:

Wyatt Semanek
Sr. Director, Corporate Communications
[email protected]

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns preliminary ratings to two classes of notes issued by Sunrun Quintus Issuer 2026-2, LLC. The transaction is collateralized by a diversified pool of 37,595 leases and power purchase agreements (PPAs) associated with residential solar photovoltaic installations (PV Systems). The total Aggregate Discounted Solar Asset Balance (ADSAB) based on a discount rate of 7.5%, consisting of the discounted payments of the leases and PPAs is approximately $359.7 million.

In the latest trading session, Sunrun (RUN - Free Report) closed at $11.44, marking a -3.46% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.19%. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 0.05%.

The solar energy products distributor's stock has dropped by 12.35% in the past month, falling short of the Oils-Energy sector's gain of 3.6% and the S&P 500's gain of 0.55%.

Analysts and investors alike will be keeping a close eye on the performance of Sunrun in its upcoming earnings disclosure. The company's earnings report is set to go public on August 5, 2026. The company's upcoming EPS is projected at $0.08, signifying a 92.52% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $722.86 million, up 26.96% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $1.01 per share and revenue of $3.08 billion, which would represent changes of -40.94% and +4.14%, respectively, from the prior year.

Any recent changes to analyst estimates for Sunrun should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 7.11% lower within the past month. As of now, Sunrun holds a Zacks Rank of #4 (Sell).

In terms of valuation, Sunrun is currently trading at a Forward P/E ratio of 11.7. This indicates a discount in contrast to its industry's Forward P/E of 19.81.

The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Earnings Release and Conference Call Scheduled for August 5, 2026 July 15, 2026 08:00 ET  | Source: Sunrun Inc.

SAN FRANCISCO, July 15, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN) today announced that it will issue its second quarter 2026 earnings report after the market closes on Wednesday, August 5, 2026. A conference call has been scheduled to discuss these earnings results at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time.

The conference call can be accessed live via the Sunrun Investor Relations website at https://investors.sunrun.com. An audio replay will be available following the call on the Sunrun Investor Relations website for approximately one month and a transcript of the conference call will be posted to the Sunrun Investor Relations website the following day.

Event: Sunrun 2Q 2026 Earnings CallDate: Wednesday, August 5, 2026Call Time: 4:30PM ET / 1:30PM PTDial-in (toll-free/toll): (877) 407-5989 / (201) 689-8434Webcast / Replay: https://investors.sunrun.com
About Sunrun
Sunrun Inc. (Nasdaq: RUN) is America’s largest provider of home battery storage, solar, and home-to-grid power plants. As the pioneer of home energy systems offered through a no-upfront-cost subscription model, Sunrun empowers customers nationwide with greater energy control, security, and independence. Sunrun supports the grid by providing on-demand dispatchable power that helps prevent blackouts and lower energy costs. Learn more at www.sunrun.com.

Investor & Analyst Contact:

Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
[email protected]

Media Contact:

Wyatt Semanek
Sr. Director, Corporate Communications
[email protected]

Now in its third dispatching season, Sunrun’s California distributed power plant delivers utility-scale capacity on demand through two state programs to support California's grid July 14, 2026 08:00 ET  | Source: Sunrun Inc.

SAN FRANCISCO, July 14, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America’s largest provider of home battery storage, solar, and home-to-grid power plants, today announced that its California distributed power plant will support the state’s electrical grid this summer with up to 425 megawatts of peak dispatchable capacity, making it one of the largest flexible energy resources in the state and largest residential distributed power plant in the nation.

Sunrun’s California distributed power plant has more than 80,000 households enrolled this year—representing more than 110,000 home batteries. The power plant launched in 2024 with 16,000 Sunrun customers enrolled. The current enrollment marks a fivefold increase in just two years. Sunrun customers are compensated for participating.

“As electricity demand continues to grow, Sunrun’s power plants represent one of the fastest, most cost-effective tools available to grid operators,” said Sunrun CEO Mary Powell. “Our California power plant leverages the flexible energy capacity sitting in tens of thousands of homes across California and is dispatched closest to where the energy is being consumed, putting downward pressure on prices and infrastructure needs.”

For the first time, Sunrun’s California distributed power plant will dispatch energy through two state grid service programs: the California Energy Commission’s Demand Side Grid Support program and the California Public Utilities Commission’s Emergency Load Reduction Program, which is operated under bilateral contracts between Sunrun and Pacific Gas and Electric Company and Southern California Edison.

Sunrun coordinates all dispatch operations to maximize grid reliability while providing a seamless experience to customers, who are only enrolled in one of the two programs. Sunrun is available to support California’s grid every day from 4 to 9 p.m., through the summer and fall months, when demand is highest and the grid is most constrained. In May and June, Sunrun conducted several dispatches using portions of its batteries in Northern and Southern California.

Last summer, Sunrun demonstrated how its distributed power plant assets deliver energy at a utility-scale capacity. During a historic dispatch event on July 29, 2025, multiple aggregators, of which Sunrun was the largest, provided enough energy to the grid to power more than half of the city of San Francisco during peak demand. During the dispatch event, Sunrun’s home batteries supplied an average of more than 360 megawatts over two hours.

“From coast to coast, Sunrun’s distributed power plants are delivering at scale just as the grid demands more capacity due to the AI buildout, domestic manufacturing, increased electrification, and a lack of new supply coming online,” said Sunrun President and Chief Revenue Officer Paul Dickson. “As we continue to rapidly grow our distributed power plant portfolio year over year, Sunrun is providing immediate value and capacity to help meet peak demand and is tailoring programs to meet a variety of grid conditions and unique needs.”

If operated as a single front-of-the-meter battery project, Sunrun’s California distributed power plant’s 425 megawatts of peak dispatchable capacity would rank it among the top 10 utility-scale batteries in California. But unlike traditional front-of-the-meter projects, Sunrun’s distributed power plant uses existing homes and infrastructure, avoiding the need for new land, new transmission lines, or lengthy interconnection processes. Distributed power plants can continue to grow over time while also providing participating customers with backup power and energy resilience.

About Sunrun
Sunrun Inc. (Nasdaq: RUN) is America’s largest provider of home battery storage, solar, and home-to-grid power plants. As the pioneer of home energy systems offered through a no-upfront-cost subscription model, Sunrun empowers customers nationwide with greater energy control, security, and independence. Sunrun supports the grid by providing on-demand dispatchable power that helps prevent blackouts and lowers energy costs. Learn more at www.sunrun.com.

Media Contact
Wyatt Semanek
Sr. Director, Corporate Communications
[email protected]

Investor & Analyst Contact
Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
[email protected]

Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Sunrun’s expectations for its California distributed power plant, including expected enrollment, battery participation, dispatchable capacity, dispatch performance, customer compensation, program availability, grid reliability benefits, ratepayer benefits, cost savings, future growth, and Sunrun’s ability to enroll, retain, coordinate, and dispatch customers and batteries through grid services programs.

Words such as “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “target,” “project,” “potential,” “will,” “may,” “could,” and similar expressions identify forward-looking statements. These statements are not guarantees of future performance; they reflect Sunrun’s current views with respect to future events and are based on assumptions and estimates and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from expectations or results projected or implied by forward-looking statements.

These risks and uncertainties include, but are not limited to: Sunrun’s ability to enroll, retain, coordinate, and dispatch customers and batteries through its California distributed power plant and related grid services programs; the final number of participating customers and batteries, battery availability, battery performance, dispatch conditions, and Sunrun’s ability to deliver the expected peak dispatchable capacity; the timing, frequency, duration, and need for dispatches during periods of peak demand, elevated wholesale prices, heat waves, and other grid events; participation in, and requirements of, the California Energy Commission’s Demand Side Grid Support Program, the Emergency Load Reduction Program, and bilateral arrangements with PG&E and SCE; customer compensation and Sunrun’s compensation for dispatching batteries; Sunrun’s ability to support grid reliability, reduce peak demand, and achieve the anticipated customer, ratepayer, and grid benefits described in this release; and Sunrun’s ability to match or exceed prior distributed power plant performance. Additional risks and uncertainties are described under the caption “Risk Factors” in Sunrun’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q, each as filed with the U.S. Securities and Exchange Commission.

All forward-looking statements used herein are based on information available to Sunrun as of the date hereof, and Sunrun assumes no obligation to update publicly these forward-looking statements for any reason, except as required by law.

SAN FRANCISCO, July 08, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America's largest provider of home battery storage, solar, and home-to-grid power plants, today launched a distributed AI compute pilot program. The pilot marks Sunrun's first step into distributed edge computing, a new business category that the company believes represents a high-margin revenue opportunity leveraging its existing energy infrastructure, large customer base, and grid service capabilities.

Following a successful proof of concept that demonstrated revenue generation and high demand for distributed compute, Sunrun is expanding the pilot to place numerous compute nodes in homes equipped with Sunrun solar and battery storage systems. Sunrun is coordinating the selling of inference capacity to enterprise compute buyers, while also testing the nodes under a variety of conditions and rate structures to gather operational data and information. Participating homeowners are compensated for hosting the compute nodes.

"AI companies are scrambling to secure greater access to energy and computing power,” said Sunrun President and Chief Revenue Officer Paul Dickson. “Over nearly two decades, we have perfected our ability to operationalize, finance, and scale distributed assets. We are now using our leadership position in distributed home energy and proven infrastructure to bring compute closer to the sources of energy and inference.”

AI inference demand is growing at approximately 35% annually and is projected by McKinsey to surpass training as the dominant AI workload by 2030, representing more than half of all AI compute. Unlike AI training — which requires massive, tightly synchronized clusters — inference is modular, geographically distributable, and highly sensitive to latency. That makes it a natural fit for edge deployment close to end users, and a natural fit for Sunrun.

Sunrun's distributed footprint of more than 1.1 million existing customers represent an addressable deployment base and gives the company a structural advantage hyperscalers can’t quickly replicate. Where a traditional data center can take years to permit, build, and interconnect, Sunrun's distributed deployment model can add significant inference capacity in a fraction of the time.

Advantages of Sunrun's Distributed Compute Model
Just as Sunrun has helped democratize energy by enabling households to generate, store, and share their own power, this distributed data center model enables American households to play a direct role in powering the nation's AI future and share in the economic opportunity it creates. For hyperscalers, it provides a flexible, scalable source of compute capacity that complements centralized data centers and accelerates AI deployment.

Geographic Flexibility: By placing compute nodes behind the meter, Sunrun mitigates regional threats of rising utility rates, overloaded grids, and power supply shortages.Scale With New and Existing Customers: Sunrun can reach meaningful compute scale across its growing customer base of over 1.1 million nationwide without the lead time of new data center development.Speed to Compute: Deployed in the built environment, Sunrun's distributed nodes eliminate land acquisition, transmission buildout, and utility interconnection queues.Existing Service Infrastructure: Sunrun already monitors and services energy equipment on more than a million homes — an operational foundation immediately available to support distributed compute at scale.Backup Power: Distributed compute nodes are paired with Sunrun's onsite battery systems, allowing data processing to continue operations through certain grid outages.Grid Resilience, Not Grid Strain: Rather than adding load pressure to already congested regions, Sunrun's distributed model improves utilization of existing electrical infrastructure, turning the network into a grid asset as well as a compute asset.Maximizing System Value: Sunrun's systems and controls optimize the compute nodes in concert with the customer’s energy consumption patterns, participation in grid services, and the customer’s electricity rate structure.Customer Compensation: Consistent with Sunrun's strategy to expand customer value, participants are compensated for hosting compute nodes, extending Sunrun's value proposition and strengthening customer retention. Sunrun’s distributed compute pilot is a distinct and separate initiative, but complements the company’s recently announced agreement with Renew Home and Tesla to aggregate more than 16 gigawatts of flexible home energy capacity for hyperscalers and utilities. Compute capacity deployed onsite at customer homes can serve the same surging AI demand that is driving hyperscalers to seek every available path to new energy capacity.

Sunrun expects to complete the pilot over the coming months and will assess results against defined milestones, compute performance, and homeowner experience before determining the scale, speed and customer offering of a broader rollout. The company is actively in discussions with enterprise compute offtakers, homebuilders, and utility partners to structure the commercial and deployment frameworks that would support expansion.

To learn more and join the waitlist, visit sunrun.com/compute.

About Sunrun
Sunrun Inc. (Nasdaq: RUN) is America’s largest provider of home battery storage, solar, and home-to-grid power plants. As the pioneer of home energy systems offered through a no-upfront-cost subscription model, Sunrun empowers customers nationwide with greater energy control, security, and independence. Sunrun supports the grid by providing on-demand dispatchable power that helps prevent blackouts and lowers energy costs. Learn more at www.sunrun.com.

Media Contact
Wyatt Semanek
Sr. Director, Corporate Communications
[email protected] 

Investor & Analyst Contact
Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
[email protected]

Forward-Looking Statements
This communication contains forward-looking statements related to Sunrun (the “Company”) within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

Forward-looking statements include, but are not limited to, statements regarding the Company’s residential distributed AI compute pilot program; the Company’s expectations regarding distributed edge computing, AI inference demand, and enterprise compute buyer demand; the potential availability, timing, scale, performance, utilization, reliability, and benefits of distributed compute capacity deployed in homes; the Company’s ability to leverage its existing customer base, solar and battery storage systems, energy infrastructure, monitoring and service infrastructure, grid service capabilities, and customer relationships to support distributed compute operations; the Company’s expectations regarding customer value, homeowner participation, homeowner compensation, customer retention, and homeowner experience; the potential for the pilot or any broader rollout to generate revenue, margin, customer value, or other commercial benefits; the Company’s expectations regarding proof-of-concept results, operational data, rate structures, pilot milestones, compute performance, and future commercial frameworks; the Company’s ability to coordinate the sale of inference capacity to enterprise compute buyers; the Company’s discussions with enterprise compute offtakers, homebuilders, utilities, and other potential partners; the potential expansion, timing, speed, customer offering, and scale of the pilot or any broader deployment; the anticipated advantages of distributed compute compared to traditional data centers, including potential deployment speed, geographic flexibility, grid utilization, infrastructure requirements, real estate needs, transmission needs, utility interconnection requirements, backup power support, and system value; the expected relationship between the distributed compute pilot and the Company’s other distributed energy resource, grid services, home-to-grid, and distributed power plant initiatives; the Company’s strategy, market leadership, competitive position, business plan, new products, new services, new technologies, customer value proposition, market opportunity, and ability to scale offerings; and anticipated demand, market acceptance, and market adoption of the Company’s offerings.

Words such as “believe,” “expect,” “continue,” “project,” “seek,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

These statements are not guarantees of future performance; they reflect the Company’s current views with respect to future events and are based on assumptions and estimates and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, achievements, or outcomes to be materially different from expectations or results projected or implied by forward-looking statements.

The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: the Company’s ability to complete the pilot successfully or at all; the timing, cost, technical performance, reliability, utilization, and commercial performance of compute nodes and related software, hardware, networking, telemetry, monitoring, and control systems; customer eligibility, customer authorization, homeowner participation, homeowner experience, customer retention, and customer compensation; compute node availability, performance, interoperability, and dispatch accuracy; market demand from enterprise compute buyers, hyperscalers, utilities, homebuilders, and other potential customers or partners; the ability to negotiate, enter into, and perform commercial arrangements with compute offtakers, homeowners, utilities, homebuilders, and other partners; the availability, quality, cost, and performance of compute nodes, software, networking, and other technology needed to operate distributed in-home compute capacity; data security, cybersecurity, and information control requirements and risks; outages, service interruptions, equipment failures, customer premises conditions, installation constraints, permitting requirements, and other operational risks; changes in utility rate structures, power market conditions, grid services program requirements, utility partner requirements, and in-home deployment requirements and other regulatory or policy frameworks; potential local, state, federal, utility, homeowner association, zoning, electrical code, building code, telecommunications, environmental, health, safety, and other requirements applicable to in-home compute deployments; the Company’s ability to manage costs, maintain quality, compete effectively, and scale new offerings; the Company’s ability to attract and retain business partners; changes in retail electricity prices and power market conditions; factors affecting the market for distributed energy resources, grid services, data centers, AI inference, and compute infrastructure; and such other risks and uncertainties identified in the reports that the Company files with the U.S. Securities and Exchange Commission from time to time, including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q.

All forward-looking statements used herein are based on information available to the Company as of the date hereof, and the Company assumes no obligation to update publicly these forward-looking statements for any reason, except as required by law.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/0dce187f-9321-4bd8-a5d1-88e96ee96b7f

https://www.globenewswire.com/NewsRoom/AttachmentNg/d0f5fc27-99c4-41a2-8bd0-e1b08b95eca3

In the latest trading session, Sunrun (RUN - Free Report) closed at $13.11, marking a -2.02% move from the previous day. This change lagged the S&P 500's 0.22% loss on the day. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.66%.

Heading into today, shares of the solar energy products distributor had lost 12.26% over the past month, lagging the Oils-Energy sector's loss of 4.76% and the S&P 500's loss of 1.21%.

Investors will be eagerly watching for the performance of Sunrun in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.1, marking a 90.65% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $727.75 million, indicating a 27.82% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $1.09 per share and a revenue of $3.08 billion, demonstrating changes of -36.26% and +4.1%, respectively, from the preceding year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Sunrun. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Sunrun currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Sunrun has a Forward P/E ratio of 12.27 right now. For comparison, its industry has an average Forward P/E of 23.19, which means Sunrun is trading at a discount to the group.

The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 36% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Sunrun shares are experiencing downward pressure. What’s driving RUN stock lower? What Is Sunrun’s 16GW Virtual Power Plant Initiative?Sunrun is pitching the partnership as a fast-to-deploy capacity unlock—more than 16 gigawatts—without waiting on new utility-scale buildouts, but the stock is still fading with the tape. The initiative is framed around coordinating home batteries, thermostats, water heaters and solar systems to shave peak load for hyperscalers and utilities.

Sunrun’s plan to aggregate "millions of existing home energy devices" is central to the pitch, including dispatchable capacity from hundreds of thousands of home battery systems and flexibility from more than 8 million smart thermostats and devices managed by Renew Home. The framework also calls for no additional hardware, software, interconnection, water or land usage, and aims to be deployable in months rather than years.

Sunrun is also tying the story directly to the AI power crunch, with Goldman Sachs forecasting global data center electricity demand could surge 220% by 2030 to 1,350 TWh (up 905 TWh).

In Virginia, the companies said they already have more than 300 megawatts available for immediate deployment, targeting at least 500 megawatts by 2030. They’ve also committed capacity into PJM’s proposed Reliability Backstop Process, which they say could unlock over a gigawatt immediately.

RUN Stock: Key Moving Averages to WatchFrom a trend perspective, RUN is still in "rebuild mode": it’s trading 3.1% below its 20-day SMA ($13.77) and 1.4% below its 50-day SMA ($13.53), and it remains 19.3% below its 200-day SMA ($16.52). That distance to the long-term average matters because it often acts like an overhead "gravity" zone where rallies can fade until price proves it can reclaim the level.

Momentum looks balanced rather than stretched, with RSI at 50.37 (neutral). RSI is a quick way to gauge whether buying or selling pressure is getting overextended; near-50 readings typically line up with consolidation and "wait for confirmation" price action.

The moving-average stack is mixed: the 20-day SMA is above the 50-day SMA (a near-term bullish tell), but the 50-day SMA is still below the 200-day SMA after the death cross in April (a longer-term caution flag). That combination often produces choppy rebounds where breakouts need follow-through to avoid rolling back into the range.

Key Resistance: $13.50 — a nearby round-number area that also lines up closely with the 20-day EMA ($13.51), making it a natural spot where rebounds can stall Key Support: $11.50 — a nearby floor to watch if the stock slips back toward prior demand after failing to hold the short-term averages How Sunrun Operates in the Solar Energy MarketSunrun is engaged in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It acquires customers directly and through relationships with various solar and strategic partners, and systems are built by Sunrun or its partners.

A big part of the model is long-duration customer relationships, with many customers signing 20- to 25-year agreements to use Sunrun’s solar energy system, and the company often owning the installed systems. That installed base is what makes the virtual power plant concept relevant: coordinating lots of already-deployed home assets can create grid-support capacity without waiting on new utility-scale buildouts.

Sunrun’s Benzinga Edge Scorecard BreakdownBelow is the Benzinga Edge scorecard for Sunrun, highlighting its strengths and weaknesses compared to the broader market:

Momentum: Neutral (Score: 69.98) — The stock’s trend profile is improving, but it’s not flashing a clear "strong momentum" signal yet. Growth: Strong (Score: 94.14) — The scorecard is pricing in a growth-forward narrative, which fits the market’s focus on scaling distributed energy and grid services. The Verdict: Sunrun’s Benzinga Edge signal reveals a growth-heavy profile with improving (but not dominant) momentum. For longer-term bulls, the setup looks best if price can reclaim and hold key moving-average resistance, because that’s where "story" and "trend" start to align.

RUN Stock Price Movement in Premarket TradingRUN Stock Price Activity: Sunrun shares were down 2.13% at $13.31 during premarket trading on Friday, according to Benzinga Pro data.

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Sunrun (RUN) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Sunrun shares RUN surged 27% in early trading on Wednesday after the residential solar company unveiled a partnership with Tesla and home-energy management platform Renew Home.

The partnership aims to supply electricity capacity to data centers and utilities grappling with soaring demand from artificial intelligence.

The three companies said they would work together to deliver more than 16 gigawatts of flexible energy capacity by creating what they described as the largest distributed power plant in the United States.

The network will draw power from Sunrun and Tesla home battery systems and use more than 8 million smart thermostats and connected devices managed by Renew Home to shift electricity demand and dispatch power during periods of peak grid stress.

The agreement comes as the rapid expansion of artificial intelligence infrastructure places increasing pressure on US electricity networks.

According to Goldman Sachs Commodities Research, data center power demand in the United States is expected to reach 41 gigawatts in 2026 and climb to 66 gigawatts in 2027.

The bank estimates total US data center capacity could approach 95 gigawatts by the end of next year.

The companies said their approach could help support hyperscale data centers without requiring costly investments in new power infrastructure.

"The grid of the 1800s cannot power the innovation of 2026," Sunrun Chief Executive Mary Powell said.

"Americans deserve innovation that does not create unnecessary energy costs. When data centers are asked to throttle down operations during the most expensive and stressful hours of the day, we can activate our distributed power plants to help provide them the power they need while also protecting American families from footing the bill for costly new infrastructure."

The partnership already has more than 300 megawatts of capacity available for deployment in Virginia, one of the world's largest data center markets.

The companies expect that figure to exceed 500 megawatts by 2030 as installations of home batteries and smart devices accelerate.

The alliance also highlights growing interest in using distributed energy resources to manage rising electricity demand.

Analysis by economic consultancy Brattle Group suggests that better utilization of existing grid infrastructure could lower electricity bills by between $110 billion and $170 billion over the next decade.

Wednesday's rally put Sunrun on course to erase much of its decline for the year.

The stock had fallen about 30% through Tuesday's close after the company issued cautious guidance.

The stock was recently trading around $16.24.

Last month, UBS lowered its price target on Sunrun to $20 from $23 while maintaining a Buy rating.

The brokerage reduced its forecasts for solar capacity deployment and now expects Sunrun to deploy 891 megawatts in 2026, down from its previous estimate of 935 megawatts.

Despite trimming projections, UBS maintained its positive stance on the stock, noting that Sunrun and the residential solar sector continue to represent a relatively high-risk, high-reward investment opportunity.

Sunrun (RUN - Free Report) closed the most recent trading day at $12.89, moving +2.67% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.5% for the day. Meanwhile, the Dow experienced a rise of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.31%.

Shares of the solar energy products distributor have depreciated by 14.39% over the course of the past month, underperforming the Oils-Energy sector's loss of 2.9%, and the S&P 500's loss of 0.23%.

The investment community will be paying close attention to the earnings performance of Sunrun in its upcoming release. The company is forecasted to report an EPS of $0.1, showcasing a 90.65% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $727.75 million, showing a 27.82% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.09 per share and a revenue of $3.08 billion, signifying shifts of -36.26% and +4.1%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Sunrun. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Sunrun currently has a Zacks Rank of #3 (Hold).

In the context of valuation, Sunrun is at present trading with a Forward P/E ratio of 11.51. This expresses a discount compared to the average Forward P/E of 20.07 of its industry.

The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 180, placing it within the bottom 27% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

SAN FRANCISCO, April 28, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America's largest provider of home battery storage, solar, and home-to-grid power plants, today announced it has priced a securitization of leases and power purchase agreements. The securitization is Sunrun's sixteenth securitization since 2015 and first issuance in 2026.

In the latest trading session, Sunrun (RUN - Free Report) closed at $13.05, marking a +2.47% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.29%. Meanwhile, the Dow experienced a drop of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.89%.

The stock of solar energy products distributor has fallen by 5.7% in the past month, lagging the Oils-Energy sector's gain of 1.35% and the S&P 500's gain of 10.54%.

Analysts and investors alike will be keeping a close eye on the performance of Sunrun in its upcoming earnings disclosure. The company's earnings report is set to go public on May 6, 2026. It is anticipated that the company will report an EPS of -$0.05, marking a 125% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $675.26 million, indicating a 33.91% upward movement from the same quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.47 per share and revenue of $3.14 billion. These totals would mark changes of -72.51% and +6.31%, respectively, from last year.

Investors should also pay attention to any latest changes in analyst estimates for Sunrun. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.79% lower. As of now, Sunrun holds a Zacks Rank of #3 (Hold).

Looking at its valuation, Sunrun is holding a Forward P/E ratio of 27. This represents a premium compared to its industry average Forward P/E of 17.03.

The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 21% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Aggregate Subscriber Value of $1.1 billion in Q1 Contracted Net Value Creation of $108 million in Q1, or $0.46 per share Storage Attachment Rate reached record 73% in Q1 Net change in cash and restricted cash of -$148 million and Cash Generation 1 of -$59 million in Q1, owing to a shift in project finance timing into Q2 and investments in safe harbor Paid down $92 million of recourse debt in Q1 with excess cash Reiterating Cash Generation 1,2 guidance of $250 million to $450 million in 2026, excluding investments in equipment safe harbor SAN FRANCISCO, May 06, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America's largest provider of home battery storage, solar, and home-to-grid power plants, today announced financial results for the first quarter ended March 31, 2026. “Sunrun is the nation's leading residential distributed power plant operator, delivering reliable energy to American homes and helping stabilize the grid.

Although the revenue and EPS for Sunrun (RUN) give a sense of how its business performed in the quarter ended March 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Sunrun Inc. (RUN) rose 4.91% intraday after reporting Q1 2026 revenue of $722.2 million, up 43% year over year and ahead of the $688 million consensus. Diluted

TIME recognizes Sunrun as one of the world’s most impactful companies for making home solar and battery storage affordable and accessible, and for its distributed power plants that are helping stabilize America’s power grid May 14, 2026 15:05 ET  | Source: Sunrun Inc.

SAN FRANCISCO, May 14, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America’s largest provider of home battery storage, solar, and home-to-grid power plants, has been named No. 5 on TIME’s inaugural list of The World’s Most Impactful Companies, and earned the top ranking in the utilities category. The list includes 500 companies that generate measurable, positive impact across society, the environment, and the economy.

The recognition represents an independent, third-party endorsement of Sunrun’s measurable impact, reinforcing its commitment to responsible business practices among customers, employees, partners, and the broader public. TIME partnered with Statista, a global leader in data analysis and industry benchmarking, to use a proprietary algorithm that evaluates and assesses the net-positive contributions of each company’s core products and services.

“Sunrun is honored to receive this recognition for our groundbreaking work to provide Americans with energy independence while simultaneously supporting the power grid,” said Sunrun CEO Mary Powell. “TIME’s analysis recognizes Sunrun for what we are: a powerful contributor, stabilizer, and resource for the grid.”

“The ranking highlights 500 companies that work to address high-priority global challenges as part of their core business—proof that companies can do good and do well,” TIME said in an article announcing the list.

Sunrun’s subscription model contributed to Sunrun’s top ranking on the TIME list, as it makes home energy storage systems affordable and accessible to Americans of all income levels with no upfront costs. By breaking down the barriers to energy independence, families can quickly enjoy the benefits of backup power and cost predictability, while also directly contributing to the health of the power grid.

TIME also highlighted Sunrun’s residential battery fleet, the largest in the country, as the backbone of the company’s 18 distributed power plant programs that help grid operators meet peak demand, manage price spikes, and avoid blackouts. Sunrun’s intelligent, flexible power plant solutions include the nation’s first vehicle-to-grid and neighborhood-level grid programs.

“Sunrun has spent years deploying distributed energy resources and creating the world’s largest distributed power plant,” Powell added. “We are more than prepared to meet this moment as our grid infrastructure faces immense pressure from AI data centers, increased electrification, and manufacturing.”

Since its start in 2007, Sunrun has provided customers with an estimated $1.9 billion in energy savings, 9.2 million hours of backup power during grid outages, and avoided 26.2 million metric tons of carbon emissions—the equivalent of taking 69 gas-fired power plants offline for a year. In addition, Sunrun’s solar projects on multifamily communities serve more than 37,000 low-income households, or 111,000 residents, and provide an estimated $21.8 million in annual savings.

About Sunrun
Sunrun Inc. (Nasdaq: RUN) is America’s largest provider of home battery storage, solar, and home-to-grid power plants. As the pioneer of home energy systems offered through a no-upfront-cost subscription model, Sunrun empowers customers nationwide with greater energy control, security, and independence. Sunrun supports the grid by providing on-demand dispatchable power that helps prevent blackouts and lowers energy costs. Learn more at www.sunrun.com.

Media Contact
Wyatt Semanek
Sr. Director, Corporate Communications
[email protected]

Investor & Analyst Contact
Patrick Jobin
SVP, Deputy CFO & Investor Relations Officer
[email protected]

Sunrun is transitioning from a cyclical residential solar installer to a distributed energy infrastructure platform with recurring contracted cash flows. RUN's storage-first strategy and virtual power plant aggregation position it to capture rising electricity demand and benefit from industry consolidation. Industry disruption and regulatory complexity are driving consolidation, favoring RUN's vertically integrated model and subscription-based resilience.

SAN FRANCISCO, June 03, 2026 (GLOBE NEWSWIRE) -- Sunrun (Nasdaq: RUN), America's largest provider of home battery storage, solar, and home-to-grid power plants, has been named to the Fortune 1000 for 2026, marking its debut on the annual ranking of the largest U.