Company Reports

Sunrun reported less than 18,000 subscriber additions during the first quarter, down over 25% year on year, while non-GAAP cash generation flipped to negative $59 million from positive $56 million last year. Results brought the stock price down nearly 5%, though it recovered some losses after hours.

We will discontinue analyst coverage of Sunrun on or about May 11, 2026.

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. The company has direct operations in approximately 20 US states and territories and was the US residential solar market leader with mid- to high-teens market share.

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. The company has direct operations in approximately 20 US states and territories and was the US residential solar market leader with mid- to high-teens market share.

Sunrun reported approximately 25,000 subscriber additions in Q4 (roughly flat year over year) and $187 million in cash generation, bringing full-year cash generation to $377 million. For 2026, Sunrun guided to $250 million-450 million in cash generation.

Sunrun reported 30,104 subscriber additions in the third quarter (down 1% year over year) and cash generation of $108 million. The midpoint of full-year cash generation guidance of $350 million was maintained.

The US residential solar market is expected to undergo a shift in 2026 as the tax credit for homeowner-owned systems expires at year-end, while the tax credit for third-party-owned systems remains.

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. The company has direct operations in approximately 20 US states and territories and was the US residential solar market leader with mid- to high-teens market share.

On Aug. 15, the US Treasury released highly awaited new guidance on beginning construction requirements for renewable energy projects to qualify for tax credits. Shares of solar equities rose between 10% and 30% as the news was broadly better than feared.

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 early 2025, the company had direct operations in approximately 20 US states and territories and was the US residential solar market leader with mid- to high-teens market share.

Sunrun reported 28,800 subscriber additions in the second quarter (up 15% year over year) and cash generation of $27 million. Full-year cash generation guidance of $200 million-$500 million was maintained, while contracted net value creation expectations were increased.

On July 3, the US House narrowly passed the budget reconciliation bill, which is expected to be signed by President Trump. The final bill includes changes to current renewable energy incentives, but is more favorable than earlier drafts, sending shares of solar stocks higher by 5%-15%.

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 early 2025, the company had direct operations in approximately 20 US states and territories and was the US residential solar market leader with mid- to high-teens market share.

On July 1, the US Senate passed its version of the tax bill, with language tweaked to be more favorable toward renewable energy credits compared with the draft released over the previous weekend.

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 early 2025, the company had direct operations in approximately 20 US states and territories and was the US residential solar market leader with mid- to high-teens market share.

On June 16, Senate Republicans unveiled their tax bill proposal, which would maintain tax credits for nuclear and battery storage, phase out wind and solar tax credits on an accelerated timeline, and end rooftop solar incentives at year-end 2025.

On May 22, the US House passed its highly anticipated tax bill, which included changes to clean energy tax credits relative to the initial draft. The revised draft would eliminate rooftop solar incentives at the end of this year, while accelerating the phaseout of broader renewables incentives.

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 early 2025, the company had direct operations in approximately 20 US states and territories and was the US residential solar market leader with mid- to high-teens market share share.

On May 12 the House Ways and Means Committee released its long-awaited budget reconciliation bill. The bill includes updates to key clean energy incentives established or extended under the Inflation Reduction Act.

Sunrun reported 25,400 subscriber additions in the first quarter, up 6% year over year, and cash generation of $56 million. The firm maintained its full-year cash generation guidance of $200 million-$500 million, but with a bias toward the lower half due to tariff impacts.