Sunrun Announces Solar Installation for Renters in San Jose
May 12 2022 - 6:30PM
Sunrun (Nasdaq: RUN), the nation’s leading home solar, battery
storage, and energy services provider, held a ribbon cutting
ceremony to celebrate the completion of a new solar installation
serving 70 affordable rental homes in San Jose, California. The Don
de Dios Apartments solar project will provide 136 kilowatts (kW) of
clean energy. Residents will receive solar credits on their
electricity bills estimated to be worth over $45 per month, more
than $900,000 in total resident savings over the next 20 years. The
multifamily housing solar installation required no upfront payment
from renters and will generate an immediate 54% in energy savings
at the facility, freeing up $1,800 annually in the property budget.
“We’re dedicated to democratizing energy and increasing access
to affordable, reliable, clean power for everyone—whether you rent
or own your home,” said Mary Powell, Sunrun’s CEO. “Our efforts are
supporting over 500 solar projects on affordable housing units,
which we anticipate will deliver $13.5 million in annual solar
savings directly to tenants, as well as thousands of hours of solar
job training to residents in disadvantaged communities.”
"Our team has aspired to install solar on the Don de Dios
Apartments rental community for over a decade. We are thrilled to
partner with Sunrun to make this a reality for our residents," said
Laura Hall, President, and CEO of EAH Housing. "Making the switch
to clean energy on our properties will bring needed utility bill
savings to residents and significantly reduce the community's
carbon emissions for the planet."
In 2018, Sunrun committed to develop 100 megawatts of solar on
affordable multifamily housing in California by 2030 via the state
Solar on Multifamily Affordable Housing (SOMAH) program.
Additionally, in 2021, Sunrun pledged to bring at least 500
megawatts of low-income solar to people across the country by 2030.
These efforts will bring the benefits of solar to hundreds of
thousands of families.
SOMAH currently has 470 active projects comprising over 38,000
households, which equates to over 100,000 low-income renters. These
active projects, once fully realized, will provide 90 megawatts of
power, produce almost 115 million kilowatt-hours of electricity
annually, worth over $25 million, or approximately $55 per
household per month, and 34% are in designated frontline
Disadvantaged Communities.
About SunrunSunrun Inc. (Nasdaq: RUN) is the
nation’s leading home solar, battery storage, and energy services
company. Founded in 2007, Sunrun pioneered home solar service plans
to make local clean energy more accessible to everyone for little
to no upfront cost. Sunrun’s innovative home battery solution
brings families affordable, resilient, and reliable energy. The
company can also manage and share stored solar energy from the
batteries to provide benefits to households, utilities, and the
electric grid while reducing our reliance on polluting energy
sources. For more information, please visit www.sunrun.com.
About EAH HousingEstablished in 1968, EAH
Housing is one of the largest and most respected nonprofit housing
development and management organizations in the western United
States. EAH develops low-income multifamily housing, manages 230
properties in 92 municipalities in California and Hawai’i, and
plays a leadership role in local, regional, and national housing
advocacy efforts.
Media ContactWyatt SemanekSenior Manager,
Public Relationspress@sunrun.com
Investor & Analyst ContactPatrick
JobinSenior Vice President, Finance &
IRinvestors@sunrun.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/14835a47-6fb6-4c97-95d8-ac2667494997
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