New York, May 03, 2024 - PRISM MarketView - Clean energy provider, Sunrun (Nasdaq: RUN), has announced that it has enrolled nearly 1,800 customers in its PowerOn Puerto Rico virtual power plant. Sunrun, which has a market cap of $2.42 billion, saw its stock rise 8.74% in intraday trading on Thursday following the news.
Sunrun has partnered with Puerto Rico’s electric utility provider, LUMA, to help avoid blackouts and reduce the population’s dependence on fossil fuel powered generators and peaker power plants. The company has been supplying dependable energy from solar-plus-storage systems to Puerto Rico’s energy grid since last fall. Sunrun customers are compensated for their participation.
“Sunrun customers’ batteries create a power plant that helps keep the lights on for all Puerto Ricans without polluting or requiring land and years of costly construction. Sunrun has a proven track record of successfully operating virtual power plants across the country that have repeatedly shown that residential solar-plus-storage is a dependable resource that can be quickly aggregated to meet increasing energy demands and keep utility costs down for all ratepayers.”
Chris Rauscher, Sunrun’s Head of Grid Services
Sunrun is the largest participant in Puerto Rico’s Battery Emergency Demand Response Program and has installed more than 2,000 batteries. The company earns fees for providing on-demand energy during energy shortfalls.
About Sunrun
Sunrun Inc. (Nasdaq: RUN) revolutionized the solar industry in 2007 by removing financial barriers and democratizing access to locally-generated, renewable energy. Today, Sunrun is the nation’s leading provider of clean energy as a subscription service, offering residential solar and storage with no upfront costs. Sunrun’s innovative products and solutions can connect homes to the cleanest energy on earth, providing them with energy security, predictability, and peace of mind. Sunrun also manages energy services that benefit communities, utilities, and the electric grid while enhancing customer value. Discover more at www.sunrun.com
Sunrun Inc. (Nasdaq: RUN) is listed on PRISM Emerging New Energy
About PRISM MarketView
Established in 2020, PRISM MarketView is dedicated to monitoring and analyzing small-cap stocks in emerging sectors. We offer up-to-the-minute financial news, provide comprehensive investment tools, and foster a dynamic community of investors. Central to our offerings are proprietary indices that track emerging sectors, including biotechnology, clean energy, next-generation technology, medical devices, and more. Visit us at prismmarketview.com and follow us on Twitter.
Disclaimer:
PRISM MarketView is not a registered or authorized broker-dealer or investment advisor and does not offer investment advice. The information provided in this communication is not intended to constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any security.
Contact:
PRISM MarketView
646-863-6341
Prism MarketView | Stock Market News and Investment Opportunities
PRISM MarketView - Social Media (X)