Sunrun
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| Industry | Solar Energy |
|---|---|
| Founded | 2007 |
| Headquarters | 45 Fremont Street, 32nd Floor San Francisco, California, 94105 U.S. |
| Key people | Nat Kreamer Ed Fenster Lynn Jurich |
| Website | www.SunrunHome.com |
Sunrun Inc.[1] is a United States-based provider of residential solar electricity, headquartered in San Francisco, California. The company operates in ten states: Arizona, California, Colorado, Hawaii, Massachusetts, Maryland, New Jersey, New York, Pennsylvania, and Oregon. Sunrun was co-founded in January 2007 by Nat Kreamer,[2] Ed Fenster and Lynn Jurich. Fenster and Jurich met while at Stanford Graduate School of Business and currently serve as the firm's Co-CEO's. The company uses a Power Purchase Agreement[3] (PPA) business model whereby homeowners pay for electricity usage but do not buy solar panels outright, reducing the initial capital outlay required by the homeowner. Along with a solar power purchase agreement, Sunrun also offers a solar lease program. Sunrun is responsible for installation, maintenance, monitoring and repairs.[4]
Since its founding in September 2007, Sunrun has partnered with a number of firms including Verengo Solar Plus, REC Solar,[5] Sunetric,[6] Gen110[7] Standard Solar, and ASE. Sunrun's main competitors are SolarCity, Sungevity, and SunPower which all offer lease programs.
Financing [edit]
The company raised $12 million in venture capital funding from a group of investors including Foundation Capital in June 2008.[2] In 2009, Sunrun closed a Series B round of funding for $18 million led by Accel Partners and joined by Foundation Capital. The company also received an additional commitment of $90 million in tax equity from U.S. Bancorp in 2009, following the $105 million in project financing from the bank in 2008. In June 2010, Sunrun struck a deal with PG&E for $100 million. Following the deal, the company announced $55 million in fresh capital from Sequoia Capital.[8]
References [edit]
- ^ Davidson, Paul (30 March 2008). "Companies Give Folks Help to Go Green". USA Today. Retrieved 2008-08-14.
- ^ a b Das, Anupreeta (June 24, 2008). "US residential solar start-up raises $12 million". Reuters. Retrieved 2008-08-13.
- ^ Nauman, Matt (22 August 2008). "Power-purchase agreements reduce cost of solar panels". San Jose Mercury News. Retrieved 2008-08-23.
- ^ LaMonica, Martin (24 June 2008). "Solar financier Sunrun pulls in money". CNET. Retrieved 2008-08-13.
- ^ Ritch, Emma (February 22, 2008). "Neighbors don't wait for solar companies to come knocking". San Jose Business Journal. Retrieved 2008-08-14.
- ^ "Sunrun Expands to Hawaii as Islands' First Affordable Home Solar Option". September 15, 2010. Retrieved 2010-09-15.
- ^ http://gen110.com/
- ^ VentureBeat, Camille Ricketts. "Sequoia Leads 55M for Sunrun Bringing Solar To A Roof Near You." June 29, 2010.
