Sunrun Inc.: How Are They Expanding Storage Solutions?

Sunrun reported a dynamic first quarter of 2024, marked by a strategic emphasis on storage installations complemented by solar capacity, reflecting a broader company transformation towards a storage-first business approach. During the period, Sunrun surpassed its guidance expectations for both solar and storage installations, with storage systems installed on 50% of new residential customers, a significant increase from the prior year. This surge in storage adoption has notably bolstered the company’s margin profile since storage installations tend to carry higher margins compared to traditional solar-only setups.