Sunrun Inc. (Nasdaq:RUN), the largest dedicated residential solar, storage, and energy services company in the United States, today announced an expansion of its partnership with GRID Alternatives, a national leader in making solar power and jobs accessible to underserved communities. The partnership includes a philanthropic donation to support job training and solar installations for low-income families, as well as employee volunteerism on projects across the United States. As part of this year’s partnership, Sunrun and GRID Alternatives will be installing systems through the National Association for the Advancement of Colored People’s (NAACP) Solar Equity Initiative.
Sunrun will also continue to serve as third-party owner (TPO) on GRID projects through its solar lease and solar power purchase agreement (PPA) products. With this arrangement, Sunrun will own, operate, maintain and insure the systems, while GRID Alternatives will install and fund each customer’s prepaid 20-year solar PPA or lease bill. The TPO model allows Sunrun to leverage both the federal investment tax credit and depreciation benefits on these projects, reducing costs for GRID Alternatives and helping the organization serve more low-income households.
“We are committed to providing resilient, affordable solar access for all,” said Lynn Jurich, Chief Executive Officer for Sunrun. “This foundational idea shapes both Sunrun’s business philosophy and our values, and we’re thankful to GRID Alternatives for our long-term, growing partnership.”
Sunrun has supported GRID’s work philanthropically for more than six years. In addition, Sunrun employees have volunteered over 4,200 hours through this partnership to-date, installing more than 2,000 kW on single-family, multi-family, and community solar projects. This translates to over 38,000 tons of avoided carbon emissions, or the equivalent of planting nearly 900,000 trees.
“Solar has tremendous benefits for low-income communities,” said Erica Mackie, CEO and co-founder of GRID Alternatives. “We’re incredibly grateful for partners like Sunrun that share our vision of a transition to clean energy that includes everyone, and are willing to roll up their sleeves with us and make that happen.”
