Business World of Renewable Energy

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Sunrun Increases Revenues

San Francisco – US solar company Sunrun announced financial results for the fourth quarter and full year ended December 31, 2016.

Total deployments increased 39 percent to 282 MW in 2016. Cumulative MW deployed reached 879 MW. “Our 2016 performance continues to validate our business model. We grew our portfolio of installed solar energy systems by 47% to 879 MW with improving unit-level economics,” said Lynn Jurich, Sunrun´s chief executive officer. “The reach of our multi-channel business model allowed us to gain market share and deliver a valuable service to our customers and our country´s energy infrastructure.”

Total revenue grew to $453.9 million in full year 2016, up $149.3 million, or 49 percent from 2015. Operating leases and incentives revenue grew 43 percent year-over-year to $168.4 million. Solar energy systems and product sales grew 53 percent year-over-year to $285.5 million. Total cost of revenue was $399.2 million, an increase of 42 percent year-over-year. Total operating expenses were $668.8 million, an increase of 28 percent year-over-year. Net income available to common stockholders was $91.7 million in full year 2016, compared to net loss available to common stockholders of $53.1 million in 2015. Diluted net earnings per share available to common shareholders was $0.87 per share.

Guidance for Q1 and Full Year 2017 In Q1, Sunrun expects to deploy approximately 69 MW, reflecting 15 percent year-over-year growth. For the full year 2017, we expect to deploy 325 MWs, reflecting 15 percent year-over-year growth.

Source: IWR Online, 10 Mar 2017