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Sunrun Inc RUN Stock Quote

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Morningstar‘s Stock Analysis RUN

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Sunrun Expands Into Products With Investment in Home Electrification Startup

Brett Castelli Equity Analyst

Analyst Note

| Brett Castelli |

On Aug. 24, Sunrun announced its investment in Lunar Energy, a startup looking to develop products targeting whole home electrification. We maintain our $34 fair value estimate for Sunrun as we await further disclosure regarding its Lunar investment. In addition to its relevance for Sunrun, we see the announcement as potentially relevant for SolarEdge and Enphase over the longer term.

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Company Profile RUN

Business Description

Sunrun is engaged in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The company acquires customers directly and through relationships with various solar and strategic partners. The solar systems are constructed either by Sunrun or by Sunrun’s partners and are owned by the company. Sunrun’s customers typically enter into 20- to 25-year agreements to utilize its solar energy system. The company also sells solar energy systems and products, such as panels and racking, and solar leads generated to customers.

225 Bush Street, Suite 1400
San Francisco, CA, 94104
T +1 415 580-6900
Industry Solar
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 11,383