Trade IPOs with Eva: Sunrun (RUN) began trading on the NASDAQ on 5 August 2015

Wednesday, August 5, 2015

Sunrun (RUN) began trading on the NASDAQ on 5 August 2015

Lynn Jurich and company cofounder, Edward Fenster, came up with the idea for Sunrun while in business school at Stanford University, and launched the company in 2007. Fenster was the first customer, installing solar panels on his Queen Anne house in San Francisco’s Mission District, where Sunrun had set up offices in one of the home’s turrets.
Today Sunrun has more than 60,000 customers in 11 states.
Sunrun’s business model is simple: The company pays to put up panels on customers’ homes, then sells the power generated back to them under a 20-year contract. By owning the solar generating systems, Sunrun is able to claim subsidies aimed at encouraging the development of renewable sources of power. The power often is sold to customers at prices below the electricity provided by utilities. “On average, we’re saving customers about 20 percent on their monthly bill.”

Sunrun Inc. provides solar energy to homeowners. The Company, either directly or through one of its solar partners, installs a solar energy system on a customer's home and either sells the system to the homeowner or, as is more often the case, sells the energy generated by the system to the homeowner pursuant to a lease or power purchase agreement (PPA). The Company's core solar product offerings are provided through a lease or a power purchase agreement, which are substantially similar to one another. The Company provides solar service offerings through three channels: its direct-to-consumer channel; its solar partner channel that originates customers for its solar service offerings, procures and installs solar energy systems on its customers' homes on its behalf, and a growing set of strategic relationships with recognized non-solar brands. With its solar service offerings, the Company installs solar energy systems on its customers' homes and sells them the solar power.