Sunrun expects to install 1 gigawatt of rooftop solar in the U.S. in 2023

PV Tech:

US solar installer Sunrun added 239.8MW of PV capacity in Q1 2023, exceeding its high-end guidance and is on track to reach 1GW in 2023.

Installed capacity increased by 12% year-on-year, while the company ended Q1 2023 with nearly 830,000 customers – and 692,000 subscribers – equating to a total installed capacity of 5.9GW.

Sunrun added 32,413 customers in Q1 2023, a 10% growth year-on-year (YoY) from the 29,463 it added in Q1 2022, taking its total customer number to 829,709.

With the forthcoming benefits from tax credit adders in the Inflation Reduction Act (IRA) only available to subscribers, customer additions will continue shifting towards a subscription model in the coming quarters, according to Danny Abajin, chief financial officer at Sunrun.

“The strength of Sunrun’s energy subscription offering and leading market presence allowed us to gain significant market share, and these trends are set to accelerate in the quarters ahead,” said Mary Powell, CEO at Sunrun.

The strong numbers in customer additions and solar capacity installed also increased the installer’s sales activities by 30% in Q1 2023 over the same period from the previous year.

[Jonathan Touriño Jacobo]

More:  Sunrun exceeds rooftop PV installs guidance in Q1, on track for 1GW in 2023