With almost two decades of experience in the solar energy value chain, Sunrun has experienced significant growth, making it a global leader in the residential solar installation industry. To date, the company has installed over 280,000 solar and battery systems in the United States. Apart from offering comprehensive solar installation operations, the company also deals in solar backup batteries, inverters, maintenance, and home energy monitoring services.
However, most of the operations undertaken by Sunrun are derived from leasing solar panels, even though the firm offers purchase options as well. In essence, leasing solar panels can be a cost-effective strategy for installing solar sooner. Nonetheless, it comes with a range of costs and long-term risks. As such, it is advisable to understand a company’s terms and conditions before entering into an agreement. Here’s everything you need to know about Sunrun.
Is Sunrun a good deal?
It will depend on your situation, your current costs of energy, and other factors.
In some cases, yes, Sunrun is a great and practical deal if you are a customer looking for a quick and straightforward way to save money on your energy bills through a solar lease. In particular, Sunrun remains the best deal compared to the traditional methods of using power from the utility.
You will benefit from savings typically ranging between 20% and 60% with Sunrun. However, it is advisable to check other alternatives if you are a homeowner looking for alternative customer service.
Is Sunrun a legit company?
Yes, Sunrun is a legitimate finance company that deals in solar power purchase agreements (PPAs) and solar leases. In essence, both solar leases and PPAs leave the ownership of the solar panels with Sunrun. The customer only enters into agreement with Sunrun to pay a certain monthly amount for solar power production.
While Sunrun operates a series of installation branches, a good portion of their investment comes from licensing their solar services out to installers who act on their behalf. In this case, the company “X” will contact you to install your panels, but you will make the payments to Sunrun.
Is Sunrun owned by Tesla?
No, Sunrun is not owned by Tesla. In fact, Sunrun’s ability to offer efficient services in the installation of solar panels and energy storage services has made it one of the major rivals of SolarCity, a firm under Elon Musk’s Tesla.
How does Sunrun solar work?
Sunrun solar works just like other home solar systems. Remember, Sunrun solar systems come with solar panels that convert sunlight to direct current electricity. (DC).
The system’s inverter turns the DC electricity into alternating current (AC), then transfers the energy to the main service panel into your home to different appliances.
In addition, the system comes with a Sunrun meter that monitors the production process and sends information to Sunrun via a wireless signal.
What is wrong with Sunrun?
Sunrun has been facing some financial challenges despite the significant growth being experienced in the solar industry. In essence, Sunrun is not a profitable venture at present. On the contrary, the company’s net losses have seen a dramatic increase in the past few years.
Apart from burning through a tremendous amount of cash, Sunrun is already facing an enormous debt load. Similarly, there have been negative customer reviews concerning Sunrun’s inability to attend to the issues raised by its clients in time.
Customer service is certainly critical when it comes to something as essential as energy so that is something consumers would want to have more confidence on.
At the same time, some customers and representatives that have worked with the company state that they could obtain competitive prices from a local provider. As such, it is a good idea to look at all of your options before going with a large player in the industry like Sunrun.
Is Sunrun really free?
No, Sunrun is not free. You will have to make monthly payments with Sunrun solar. However, the company offers easy and affordable services.
Much to Consider When it Comes to Solar Energy
There’s a lot to think about when it comes to solar. Thankfully, there’s quite a bit of information out there and how you can make the best decision when it comes to your property.