Sunruns

Sunruns are a type of solar energy agreement that allows homeowners to install solar panels on their property without an upfront cost. The company that owns the solar panels, often Sunrun itself, sells the electricity generated by those panels back to the homeowner at a lower rate than the local utility company. This arrangement is typically structured as a solar lease or a power purchase agreement (PPA). Under a solar lease, the homeowner pays a fixed monthly fee for the use of the solar system. With a PPA, the homeowner pays for the amount of electricity their solar system produces, usually at a set price per kilowatt-hour that escalates over time.

Sunruns handle the installation, maintenance, and monitoring of the solar system. The homeowner benefits from reduced electricity bills and a smaller carbon footprint. The solar company, in turn, generates revenue from the sale of electricity and may also benefit from solar tax credits. These agreements are often for 20-25 years. When the contract term ends, homeowners typically have options such as renewing the lease, purchasing the system outright, or having the system removed. The availability of Sunruns and their specific terms can vary by location and the company's policies.