Sunrun's Pricing Actions Should Benefit Margins; Raising FVE to $34 on Policy Upside

Sunrun’s mission is to provide customers--primarily homeowners--with clean and affordable solar energy and related products. The company was a pioneer in the residential solar industry, offering its first solar lease in 2007. Sunrun targets day-one customer savings of 5%-45% compared with a customer's local utility rates. As of late 2021, the company had direct operations in 22 U.S. states and territories and was the U.S. residential solar market leader with approximately 20% share.