Sunrun

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Sunrun Inc.
Industry Solar Energy
Founded 2007
Headquarters 595 Market Street San Francisco, California, 94105 U.S.
Key people Nat Kreamer
Ed Fenster
Lynn Jurich
Website www.sunrun.com

Sunrun Inc.[1] 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.[2] Sunrun was co-founded in January 2007 by Nat Kreamer,[3] 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[4] (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.[5]

Since its founding in September 2007, Sunrun has partnered with a number of firms including Verengo Solar Plus, REC Solar,[6] Sunetric,[7] Gen110[8] 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.

Financing[edit]

The company raised $12 million in venture capital funding from a group of investors including Foundation Capital in June 2008.[3] 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.[9]

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.[10]

References[edit]

External links[edit]