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Residential solar installers endured a tumultuous 2020, heavily influenced by the Covid-19 pandemic. The competitive landscape has shifted, and top installers did not recover evenly going into 2021. So how has the leaderboard changed?
We track the top commercial and residential installers and equipment suppliers in the solar market in our US PV Leaderboard. Complete the form for an overview, or read on for look at some of the notable themes from the last year.
A Solar System Only Works If It Works For You
With 17+ years of solar panel installation including design, assembly and maintenance we at Sunrun believe that every solar system should be uniquely structured for each home. We make it really easy to get a solar estimate and figure out what type of system works best for you, and then well customize the agreement based on your individual needs.
At Sunrun, our job is to save you money. You decide how you get to spend it. Thats what we call a win-win. Get a free quote today and find out which system makes sense for you to get long-term savings.
Is Sunrun A Good Deal
Sunrun is a good deal if you compare it to the traditional way of using power from the utility. Savings typically range between 20%-60% depending on what state you are located in and what utility you have.
Comparing a Sunrun lease to a zero-down solar loan requires more information and can vary from person to person. The cost of solar has come down so much that financing panels over 20 or 25 years could potentially be less than your monthly payment for a lease.
This usually depends on what incentives and tax credits are available to you. Installers who offer loans have also increased their warranties to compete with Sunrun over the last few years.
Its important to consider cost, amount and timing of solar incentives, customer service, and liability when determining what the best solar option is for you and your home.
As consumers become more educated and comfortable with solar, there has been an uptick in purchased solar systems through loans or cash, but for many leasing is still their preferred way to go. Get a quote for both and compare.
Are you considering leasing or owning solar panels? Let Those Solar Guy help! Click here to see which option will work best for you. Those Solar Guy has a wide network of trusted installers that will get you a free custom solar design for you home!
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How Much Energy Can A Solar Panel Generate
A solar panels wattage represents its potential power production under ideal conditions. The table below shows the minimum, maximum, and average power outputs of the solar panels from a few leading manufacturers. Each company has a wide range because they produce multiple solar panel models. Panel wattage is important but just one factor that goes into your equation.
How To Use The Sunrun Monitoring Portal
When you log in, youll see a bar graph that shows you how much power your system is producing by the day, week, month, or year. You can compare that information with how much power you actually use to see how much of your monthly power usage compares to the amount of power your system is producing. You can also see how much carbon your solar system is offsetting. As your system generates solar energy, the monitoring portal will share fun facts with you about the benefits that your solar energy provides the planet.
If your system includes batteries, you will see power consumption information. You can also request to see additional information such as how much power individual solar panels are producing.
Keep in mind that as a Sunrun solar PPA customer, the amount of power you purchase from Sunrun is the amount of power that is listed in your contract. The amount of power your system produces doesnt affect your bill with Sunrun. But you may want to keep an eye on your power production for other reasons.
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Benefits Of Each Company
One of the biggest benefits of Solar City is that their products last much longer than others.
SunRuns panels are under 10 to 20-year warranties.
SolarCitys are guaranteed for 30 years.
Thats a pretty big difference.
Investing in panels that are going to perform for ten years longer is a big benefit.
SolarCity also controls its entire supply chain.
They oversee solar panel production, take care of financing in-house, and installations are done by their employees.
This means they can make sure the quality is always top notch as well as the service.
SunRun is best known for its financing options and PPAs.
They are the leaders in providing leases and PPAs for homeowners, but they dont have consistency when it comes to installers and the products they sell.
So much is dependant on the installer they contract and that can be risky.
Top Tech Stocks For January 2022
The technology sector is composed of businesses that sell goods and services in electronics, software, computers, artificial intelligence , and other industries related to information technology . The sector includes companies with the largest market capitalizations in the world, such as Apple Inc. , Microsoft Corp. , and Amazon.com Inc. . Tech stocks, represented by the Technology Select Sector SPDR Fund , have outperformed the broader market over the past year.
SEIA projects solar installation of 1,657 MW in Massachusetts over the next five years. You may keep track of stocks like RUN, SPWR & NOVA .
Yahoo Finance Editor-in-Chief Andy Serwer is joined by DICE Founder & CEO Phil Hutcheon along with Tony Fadell, Future Shape Principal, Nest Founder, and iPod inventor, as they discuss the future of consumer technology.
Sunrun closed the most recent trading day at $31.48, moving +0.19% from the previous trading session.
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Where Did My Vivint Solar Stock Go
As previously announced, Vivint Solar shareholders will receive 0.55 shares in the Sunrun share for each share in the Vivint Solar share they own immediately prior to the completion of the acquisition. The merged company will continue to trade on the Nasdaq Global Select Market under the ticker symbol RUN.
Is Sunrun A Good Option For Solar Panels On Your Home
If youre considering a solar panel installation, chances are youve come across the name Sunrun. A lot of literature exists on this leading residential solar panel installer, but research can be overwhelming, so were breaking down everything you need to know in this Sunrun solar review.
As one of the nations top solar companies, Sunrun focuses on installing custom-designed solar arrays and backup battery systems, and installations are performed quickly and easily by the providers massive fleet of technicians. Sunrun also offers a solar leasing program thats popular among customers.
|Sunrun Fast Facts|
|Service Areas||22 states and territories, including AZ, CA, CO, CT, FL, HI, IL, MD, MA, NV, NH, NJ, NM, NY, PA, RI, SC, TX, VT, WI, Puerto Rico and Washington D.C.|
|Service Types||Solar panel and backup battery installations|
|Types of Panels||High-efficiency monocrystalline panels from top solar suppliers like LONGi and Costco|
|Backup Battery Options||Tesla Powerwall and the LG Chem|
|Rating||B+ with accreditation|
Read on to learn more about the provider, or to see if Sunrun is available in your area and get a free quote, fill out the 30-second form below.
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Pros And Cons Of Each Solar Company
The blog Solar Industry uses the term Solar Coaster to describe the industry.
Considering the ups and downs companies in the sector experience, its not surprising that each company has its pros and cons.
SunRun was the first to create a business model where residential homes could lease solar panels. This removed the high upfront cost of purchasing.
They continue to be big players in the home solar industry. Now, in addition to the option of leasing, they offer other residential solar financing options. These include loans, purchasing, and PPAs. Their rates are locked in for 20 years.
SunRun also has other positives.
They partner with installers already working in your community, as a way to increase jobs in the areas they sell.
SunRuns excellent monitoring and quick response from local companies is a definite pro. The company monitors your system 24 hours a day, 7 days a week, and they even give you a way to live monitor it, too.
In terms of SunRuns cons, there are some complaints about poor customer service.
Contracting local installers was supposed to increase local support. But because SunRun doesnt serve the customer directly, poor customer service complaints are plentiful.
On the technical side, with SunRun, there is no battery system to provide backup in the case of a power outage.
When they design your system, they use satellite imagery of your roof rather than coming to measure it in person.
There are many advantages to working with SolarCity.
Is Sunrun The Best Choice
As with any major choice, it’s best to follow the expert advice to shop around. Get multiple quotes for systems and financing , including quotes from local, non-national installers.
Third-party ownership generally saves you less money over the long haul than buying panels outright, which is usually the best option if you can afford the up-front cost or secure a favorable loan.
Leases can offer some savings over paying your utility and if buying solar is financially out of reach for you, a lease might be a fine option. This, again, depends on your local energy prices, the terms or the lease, including escalators and your energy usage. In this case, a lease from Sunrun might be your best choice, though you should still compare it with other lease options. Third-party ownership isn’t allowed in every state.
If you’re looking to purchase, you’ll likely get quality equipment from Sunrun. LG’s solar equipment excels in some key categories and offers a strong warranty. Likewise, Sunrun’s workmanship warranty matches Tesla’s at 10 years.
It’s important to note that, while I researched this as deeply as was practical, I haven’t been through this process as a buyer and I haven’t tested Sunrun’s offerings in any empirical way. Solar services are difficult to review in the traditional sense, so be sure to get multiple estimates from different installers before you make a purchase decision.
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Be Aware Of Sunrun’s Risks
It’s not as if Sunrun’s value on the balance sheet would evaporate, so I’m not arguing the company is in danger of collapse. The debt highlighted above has locked in some value and protected Sunrun from rising rates short-term. But rising rates have to be a concern for investors, and I think giving no value to renewals is a conservative assumption worth making given we don’t know if customers will choose to renew solar contracts with existing equipment.
Sunrun’s $8.1 billion market cap seems extremely optimistic given the assumptions going into the company’s earning assets calculation. And that’s why this is a solar energy stock I would stay away from as interest rates rise.
Preserve Peace Of Mind
Rooftop solar panels with battery storage generate electricity and provide a backup power solution. During an outage, Brightbox keeps preferred circuits powered. Our energy storage system enables you to run four 15-20 Amp, 120V circuit breakers for approximately 8 to 12 hoursenough to keep essentials humming until the sun rises.
Solar cant change the weather. But, having electricity during an outage gives you peace of mind and a value beyond money.
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What Is An Earning Asset
Sunrun uses a calculation called earning assets to estimate the value its solar installations are creating over time. Earning assets is essentially the same as the old retained value calculation and is described by Sunrun as the “present value of cash flows from customers over time.” Management reports this number each quarter so we can see how it changes over time.
Since Sunrun finances its solar projects long-term, it makes sense to try to gauge the value generated each quarter. But the devil is in the details for how you calculate earning assets.
For example, Sunrun reports “gross earning assets” for the contracted period and the renewal period of solar contracts. The contracted period is normally the 20 to 25 years over which customers agree to pay for their solar installations through a lease or power purchase agreement for the electricity produced. The renewal period is the time from year 20 or 25 to year 30.
In reality, we can reasonably expect customers under contract to continue paying their bills as planned, but we have no evidence that customers will renew contracts on 20-year-old equipment. And given the price escalation built into contracts and the falling price of solar installations, renewal of the contract is probably an unwise financial move for most of Sunrun’s customers. So, let’s be conservative and assume that the renewal value investors should use is $0.
Average Cost Of Residential Solar Keeps Falling
Solar panels are rapidly spreading over American rooftops. And as the cost of solar continues to fall, its no surprise that residential solar systems are installed every 100 seconds in the United States.1 Residential solar costs are at their lowest in over 30 years. More affordable than ever, todays residential solar panels feature technology advances that maximize power production.
Average cost of residential solar keeps falling. Residential solar costs are at their lowest in over 30 years. More affordable than ever, todays residential solar panels feature technology advances that maximize power production.
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Does The Type Of Solar Panel Make A Difference
SolarCity prides itself on the quality of its solar panels. According to their website, the panels they install last 10 years longer than typical panels 35 years rather than 25 years.
SolarCity demands that their solar panels be 2 to 3 times better than industry standards.
The company performs audits and inspections of the factories where their products are made in order to make sure their high standards are being met.
They also perform regular tests to make sure their panels can stand extreme weather conditions.
The three brands that SolarCity oversees and installs are Sanyo, Kyocera, and Suntech.
SunRuns distribution arm lists over a dozen brands .
This is probably because they partner with local installers. The many panel brands are chosen by the many installation companies. They install a few different general types of panels.
The most efficient are monocrystalline panels. But they are also the most expensive.
Polysilicon panels cost less but are less efficient.
Thin film silicon panels take much more square footage on your rooftop to produce the same amount of power.
SunRun also offers Building Integrated Photovoltaics . These look just like roof shingles but they are actually thin film solar panels.
Recently SolarCity released their Solar Roof shingles.
These are made out of glass and look like regular roof shingles half as heavy as a regular roof tile and 3 times as strong!
How should this factor into your decision?
How Do You Get An Estimate For Solar Service
You can can a quote from SunRun either on their website or over the phone. They ask you a couple basic questions to find out which service would be right for you.
They allow you to decide if youd like them to maintain your system or if youd like to keep up with the maintenance yourself.
They also help you decide whether you are right for leasing, buying, or Power Purchase Agreements .
SolarCity also offers a free quote through their website.
Based on your homes architecture and your power needs, the quotes offer all financing and purchase options.
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Sunrun Prices Notes Backed By 34000 Home Solar Systems
The notes are backed by 34,068 rooftop solar systems located in 23 states.
The transaction comprises Class A and Class B notes. The Class A notes have an initial balance of USD 447.1 million and only these notes were sold to inventors. The Class B notes will be retained by an affiliate of Sunrun, with the company planning additional subordinated financing, secured partially by the distributions from the Class B notes.
The Class A notes were priced at a yield of 2.28%, or a spread of 120 bps to the benchmark swap rate. The spread is 15 bps better than the previous record low achieved in Sunruns securitisation in March 2021.
The Class A notes have an expected weighted average life of 6.3 years. The anticipated repayment date is January 30, 2029, and the final maturity date is January 30, 2057.
The deal is expected to close on September 29. Deutsche Bank Securities was the sole structuring agent. It acted as a joint bookrunner together with Credit Suisse and BofA Securities.
You Have Some Brilliant Options
With BrightSave Monthly, you can pay $0 up front and get started right away. Since youll be leasing the solar panels, well install and maintain the system for the life of your contract. You simply start paying a lower monthly rate for electricity than youre paying now. Theres even an option to lock in your monthly rate for the next 20 years.
If you want to own your solar system for advantages such as state tax incentives, you can do that too!
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How To Log Into My Sunrun
Check your email. Freedom Forever will send you an email to sign up for Sunrun monitoring. If you cant find the email, dont worry. You can just visit mysunrun.com and click First visit to the website? You will then be taken to a page where youll be prompted to enter an email and password. Once youve done that, you can sign in to My Sunrun and begin monitoring your system.