U.S. solar leasing provider Sunrun has serviced its 100,000th home solar customer this week as its residential solar-as-a-service model reaches a new milestone.
Combined, Sunruns 100,000+ solar customers have now generated 1.3 terawatts of solar electricity, which is enough clean energy the company claims to power the Empire State Building for 23 years.
The Sunrun model offers zero- and low-upfront cost rooftop PV installations for customers, offering savings of up to 20% on a typical familys electricity bill. Combined, Sunrun customers have saved more than $100 million on their bills, Sunrun states.
The companys product comprises the design, installation, financing, insurance and post-installation monitoring and O&M of a rooftop PV system, and has served to meet the growing desire across the U.S. for clean energy.
Sunruns package also includes a recently introduced extended loan option, which is offered as either a 12-year or 20-year loan, augmenting the companys other financing options a lease, a PPA and the BrightBuy upfront-payment option.
In the summer the companys success led to the release of its first initial public offering (IPO) priced at $111 million, which was swiftly followed by a solid set of Q2 financials the headline figure being a 76% y-o-y growth in installations and a 70% increase in bookings.
"Sunrun is proud to have helped over 100,000 customers enjoy the benefits of clean solar power and pay less for their electricity," said Sunrun CEO Lynn Jurich. "We strive to create an excellent customer experience to earn and keep our customers loyalty, and we look forward to helping even more families make the switch to solar and save money."
Sunrun’s 100,000th customer was the Noren family in Santa Rosa, California.