|Headquarters||595 Market Street San Francisco, California, 94105 U.S.|
|Key people||Nat Kreamer
Sunrun Inc. is a United States-based provider of residential solar electricity, headquartered in San Francisco, California. The company operates in eleven states: Arizona, California, Colorado, Hawaii, Massachusetts, Maryland, New Jersey, New York, Pennsylvania, Oregon, and Connecticut. Sunrun was co-founded in January 2007 by Nat Kreamer, 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 (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.
Since its founding in September 2007, Sunrun has partnered with a number of firms including Verengo Solar Plus, REC Solar, Sunetric, Gen110 Standard Solar, and ASE. Sunrun's main competitors are SolarCity, Sungevity, SunPower, and Vivint Solar, which all offer lease programs and/or power purchase agreements.
The company raised $12 million in venture capital funding from a group of investors including Foundation Capital in June 2008. 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.
In May 2014, the company closed a $150 million equity round that will be used to improve its technology in the U.S. solar industry.
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