Sunrun News

Sunrun Q3 Revenue Jumps 52% to $1.1 Billion as Direct Installations Grow; Cash Guidance Narrowed

Press Release | 11/4/2026

SAN FRANCISCO - November 4, 2026

Sunrun reported third-quarter 2026 revenue of $1.10 billion on November 4, up 52 percent from $724.6 million a year earlier, as the residential solar and storage company said its direct-install business returned to growth and storage attachments hit a company record.

Net income attributable to common stockholders was $153.2 million, or $0.64 per basic share and $0.56 per diluted share, compared with $16.6 million, or $0.07 and $0.06, in the third quarter of 2025. Customer agreements and incentives revenue rose 13 percent to $553.5 million. Energy systems and product sales jumped 134 percent to $546.0 million, which the company tied mainly to a third-party sale arrangement for certain newly originated storage and energy systems that began in the third quarter of 2025; Sunrun said it still handles the customer experience and servicing on those accounts.

"Sunrun has returned its direct business to growth, with installations increasing 9 percent year-over-year," said Mary Powell, chief executive officer. "Sunrun is the nation's largest Residential Independent Power Producer. We hit a 75 percent attachment rate of storage assets, the highest in our history."

Subscriber Additions were 22,957 in the quarter, down 24 percent from a year earlier. Sunrun ended September 30 with 1,057,695 Subscribers, up 9 percent year over year, and 1,229,709 Customers. Storage Attachment Rate reached a record 75 percent, up from 70 percent a year earlier. Networked Storage Capacity stood at about 5.0 gigawatt-hours across more than 284,000 storage and solar systems. Aggregate Subscriber Value for the quarter was about $1.3 billion, down 20 percent from the prior-year period. Net Subscriber Value fell 28 percent to $9,462.

Net cash provided by operating activities was $301 million. Cash Generation, a non-GAAP measure the company emphasizes, was $6 million, or $56 million excluding $50 million of net investments in equipment for tax-credit safe harbor. Chief financial officer Danny Abajian said the company expects higher Cash Generation in the fourth quarter.

For full-year 2026, Sunrun narrowed Aggregate Subscriber Value guidance to about $4.6 billion from a prior range of $4.6 billion to $4.9 billion. Cash Generation guidance was revised to about $200 million for the year, excluding equipment safe-harbor investments, from a prior range of $200 million to $375 million.

Sunrun, based in San Francisco, sells and leases home solar and battery systems and runs home-to-grid power programs. Its stock trades on Nasdaq under the symbol RUN.

Sunrun to Pay Connecticut $300,000 and Provide Uncapped Relief in Settlement Over Forged Solar Contracts

Connecticut Attorney General | 10/23/2026

HARTFORD, Connecticut - October 23, 2026

Sunrun Inc. will pay $300,000 to the state of Connecticut and must investigate and compensate homeowners who say they were signed into solar contracts through fraud, under a settlement announced October 23 by Connecticut Attorney General William Tong.

The settlement resolves a lawsuit Tong filed in July 2024 against Sunrun, Sunrun Installation Services, Elevate Solar Solutions, Bright Planet Solar and two salespeople, Dakota Grumet and Sierra Howes. The state alleged violations of the Connecticut Unfair Trade Practices Act and the Home Improvement Act, including locking consumers into long-term solar contracts without their consent by impersonating them, forging signatures, performing work without permits and installing systems that did not work. Sunrun contracted with Bright Planet for solar marketing and sales, and Elevate and the two individuals sold contracts on its behalf.

"We sued SunRun and Elevate following shocking consumer complaints, including forged signatures, impersonations of consumers, non-permitted work, and non-functioning systems," Tong said. "They locked homeowners into long-term contracts without full, informed consent, and failed to deliver what was promised."

Beyond the $300,000 payment, Sunrun must notify every consumer whose contract was solicited by Elevate, Howes, Grumet or anyone associated with them who is believed to have used similar tactics. The company must investigate each fraud claim and give the consumer a response within 60 days. Where fraud is substantiated, Sunrun must offer relief that can include cash payments, account credits, contract cancellation or removal of the system. Consumers who say they never received a copy of their contract, and for whom Sunrun cannot prove delivery, may cancel. Disputes go to an independent arbitrator paid for by Sunrun, and the settlement places no cap on the restitution the company may owe. Affected Connecticut customers can file claims by email at CTSupport@sunrun.com.

Elevate must dissolve under the settlement. Elevate, Grumet and Howes face a $200,000 penalty, suspended after $100,000 is paid, to ensure ongoing compliance. Grumet, a principal and managing member of Elevate, is barred for 10 years from owning any business involved in home solicitation sales, must work under direct company supervision and must keep records of any door-to-door or telephone marketing he does. Howes must surrender her home improvement salesperson registrations and may not apply for a new salesperson or contractor registration for 10 years. The case against Bright Planet, which is no longer represented by counsel, remains pending. None of the defendants admitted liability.

The settlement is part of a broader crackdown on residential solar sales in Connecticut. The attorney general's office has an open investigation into SunStrong Management, reached a $100,000 settlement with solar servicer Spruce Power 3 earlier this year, and obtained a $5 million stipulated judgment against Vision Solar in 2024 over high-pressure sales tactics.

Sunrun, based in San Francisco, is the largest residential solar and battery storage provider in the United States and sells many of its systems through door-to-door and dealer sales channels. The company is scheduled to report third-quarter 2026 results after the market closes on November 4. No public response from Sunrun to the settlement had been found as of November 2.