SUNRUN INC (RUN)
Industrials · Residential solar and energy storage services · NASDAQ
America's leading residential solar-as-a-service provider, delivering clean energy to homeowners with no upfront costs through 20-25 year lease and power-purchase agreements.
What SUNRUN INC does
Sunrun is the nation's largest provider of clean energy as a subscription service, offering residential solar and battery storage systems with no upfront customer costs. The company designs, installs, owns, and maintains residential solar energy systems, collecting predictable long-term cash flows from customers through 20-25 year lease and power purchase agreements. Sunrun operates a scalable multi-channel platform serving homeowners across the United States, including direct-to-consumer and partner network channels, while also offering services to commercial developers through multi-family and new homes segments. The company finances its upfront deployment costs through tax equity, non-recourse debt, and project equity structures.
Themes: ["Residential solar","Solar-as-a-service / subscription model","Battery storage integration","Distributed renewable energy","Energy security and resilience","Clean energy transition"]
Fundamentals
- Price$12.46 as of 2026-07-09 close
- Market cap$2.9B as of 2026-07-10
- 1-year return+18.6% as of 2026-07-09 close
- P/E5.12 as of 2026-07-10
- Net margin+17.9% as of 2026-07-10
- Gross margin+32.1% as of 2026-07-10
- ROE+18.3% as of 2026-07-10
- Debt / equity4.45 as of 2026-07-10
- Revenue growth (YoY)+52.4% as of 2026-07-10
- Revenue CAGR (3y)+8.4% SEC XBRL
- Beta2.41 as of 2026-07-10
Key risks (from latest filing)
["Dependence on long-term customer payment flows: The business model relies on predictable 20-25 year cash flows from customers, making it sensitive to customer defaults, early termination, or changes in energy consumption patterns.","Regulatory and incentive policy risk: The company's growth and economics are heavily influenced by federal and state renewable energy tax credits, incentives, and net metering policies, which could change adversely.","Capital intensity and financing requirements: Significant upfront deployment costs require continued access to tax equity, non-recourse debt, and project financing at favorable terms; tightening credit markets or rising rates could impair growth."]
Competitors & peers
- Tesla Energy (TSLA)
- Vivint Solar (acquired by Sunrun in 2020, but remains a competitive reference point)
- Sunnova Energy International (NOVA)
- Sunpower Corporation (SPWR)
- Enphase Energy (ENPH)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.