Sunrun installs 65MW in Q2 but lowers 2016 target

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The company expects to benefit from lower PV module and inverter ASPs in the second half of the year, which could lead to becoming cash flow positive in 2016.

Sunrun reported revenue of US$122.5 million in the second quarter of 2016, up US$49.8 million, or 69% from the second quarter of 2015 and up from US$98.7 million in the first quarter of 2016.

Total deployments in the quarter were 65MW, an increase of 54% year-over-year.  Sunrun-built deployments grew 128% year-over-year and cumulative MW deployed reached 721MW at the end of the quarter. 

Lynn Jurich, Sunrun’s chief executive officer said, “We deployed 65MW in Q2 while improving creation costs over 10% compared to the first quarter and delivering $51 million of NPV.  We believe we are well positioned to continue to build growth and customer value that will differentiate us as the leader in bringing local clean energy direct to consumers.”

However, growth rates are slowing as the company has grown rapidly in the last few years. Softening of demand was partly due to lower prospect conversions, due to the ITC extension and cancellation of orders due to its exit from the Nevada market.

The company expects to benefit from lower PV module and inverter ASPs in the second half of the year, which could lead to becoming cash flow positive in 2016.

Guidance

Sunrun guided third quarter deployments of 72MW but slightly reduced full-year guidance from 285MW to a range of 270MW to 280MW.

Read Next

January 13, 2022
Reliance Industries has signed a Memorandum of Understanding (MoU) with the government of Gujarat for a total investment of INR5.955 lakh crore (US$80 billion) over 10-15 years to establish 100GW of renewables and set up green technology manufacturing facilities in the state.
January 10, 2022
The Australian Renewable Energy Agency (ARENA) is providing AU$40 million in funding to support research and development (R&D) that can help Australia reach its ‘ultra-low cost solar’ goal, recently added as a priority under the country’s decarbonisation strategy.
January 6, 2022
JinkoSolar has won a tender issued by the China Petroleum Engineering and Construction Corporation (CPECC), an affiliate company of the China National Petroleum Corporation (CNPC), for up to 1.85GW of high efficiency TOPCon modules
PV Tech Premium
December 2, 2021
Hit by soaring electricity prices and widespread power outages during a severe cold weather event earlier this year, Texas homeowners have been ramping up rooftop solar and battery storage installs to protect against future blackouts and increase their energy independence.
November 12, 2021
German conglomerate BayWa AG has witnessed “flourishing” sales of solar PV components take its renewables segment to new heights in the first nine months of 2021.
November 5, 2021
Leading US solar installer Sunrun witnessed installs smash through the 200MW barrier in Q3 2021, with the company deploying an analyst expectation-beating 219MW.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal