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This chart shows Sunrun’s Revenue by Segment from 2016 onwards, split between Customer Agreements, Incentives, solar energy systems and product sales.
Sunrun Inc. is a provider of residential solar panels and home batteries globally.
|Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Customer agreements and incentives||$114.48||$219.47||$231.86||52.84 %|
|Solar energy systems and product sales||$95.27||$181.69||$206.89||47.15 %|
(All figures in millions, except percentages)
Sunrun Inc’s total revenue increased from $209.76 million in Q3 2020 to $438.76 million in Q3 2021, making a good increase of around 109.17% on a yearly basis. It increased by 9.37% quarterly, when compared to $401.16 million in Q2 2021. The company earned its highest revenue from the Customer agreements and incentives segment amounting to $231.86 million in the latest quarter. Lastly, the Solar energy systems and product sales segment contributed around 47.15% to the total revenue amounting to $206.89 million.
Sunrun Inc’s total revenue is further bifurcated into the following segments:
Customer agreements and incentives
Revenue from the Customer agreements and incentives segment comes mostly from Customer Agreements and the sale of Commercial ITCs and SRECs to other parties. The company records revenue from a customer agreement when the local utility provider issues a PTO for the related solar energy installation, or when daily operation begins if no utility approval is necessary. For client agreements that feature a fixed monthly charge that rights the customer to any and all electricity generated by the system, it records revenue over the initial period of the customer agreements evenly as it meets performance commitments.
The revenue from Customer incentives and agreements has increased over the past quarters, from $114.48 million in Q3 2020 to $219.47 million in Q2 2021 to $231.86 million in the latest quarter. It increased by 5.64% on a quarterly basis and 102.5% on a quarterly basis. The company earned its highest revenue from this segment, around 52.84%, amounting $231.86 million in Q3 2021.
Solar energy systems and product sales
Revenue is recorded for solar energy systems sold to consumers when the solar energy system passes inspection by the authority having jurisdiction, which often occurs after installation but before PTO, at the time when the company has fulfilled the contract’s performance obligation. Fees for extended warranties and maintenance services are included in some solar energy systems supplied to clients. Solar panels, racking systems, inverters, and other solar energy products sold to resellers are among the products sold. Roof repair, fees for extended services on solar energy systems sold to customers, and client leads are also among the products sold. Revenue from product sales is recognised when control is transferred, when the product is sent, or when services are given.
The revenue from Solar energy systems and product sales has continuously increased from $95.27 million in Q3 2020 to $181.69 million in Q2 2021 to $206.89 million in the latest quarter. It increased by 13.8% quarterly and 117.1% yearly. This segment contributed around 47.15% to the total revenue of the company, amounting to $206.89 million in Q3 2021.
Sunrun Inc.,is a company that provides solar panels and home batteries for residential use. It is based in San Francisco, California. In the United States, the company designs, develops, installs, sells, owns, and maintains home solar energy systems. When compared to standard utility electricity, it often supplies clean solar energy at a lower cost. The majority of their clients are homeowners. In select markets, they also provide battery storage and solar energy systems to their clients, and they sell services to commercial developers through their multi-family and new home offerings. It established the infrastructure and capabilities necessary to swiftly recruit and serve customers in a low-cost and scalable manner after establishing the residential solar service model and seeing its immense market potential. Their scalable operating platform now offers a number of distinct advantages. The common stock of the company is publicly traded on the NASDAQ under the symbol “RUN”.
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