Working with Think Energy by ENGIE to Trailblaze the Lone Star State’s First Ever 20-Year Retail Energy Buyback Program
SAN FRANCISCO, June 01, 2017 (GLOBE NEWSWIRE) -- The stars at night are not the only things that are big and bright in the great state of Texas. Sunrun Inc. (Nasdaq:RUN), the largest dedicated residential solar, storage and energy services company in the United States, announced today that it is expanding its home solar service to Texas, one of the sunniest and most populous states in the U.S.
Sunrun also announced an innovative offer with ENGIE Resources LLC to bundle retail energy, inclusive of a 20-year net metering agreement, with its residential retail energy company, Think Energy. Sunrun customers in Texas will have Think Energy as their Retail Energy Provider enabling them to get retail energy credit for every kilowatt of excess generation that flows to the grid, access that credit when they consume energy from the grid, and purchase energy at a fixed rate when they consume in excess of their solar generation. This virtual net metering agreement is the first time that a retail provider and solar company have bundled a twenty-year net metering guarantee.
Sunrun is the pioneer in the solar as a service model, making it simple and affordable for homeowners to go solar. Sunrun has already helped nearly 135,000 homeowners save on their electricity bills. Sunrun will offer Texas homeowners the option to purchase their solar system, lease, or finance it through a third party loan arranged by Sunrun.
“Solar is a win-win for Texas. Texas homeowners benefit from solar costs being at an all-time low giving them greater control over their energy and all Texans win from solar energy’s ability to contribute to the grid clean renewable energy when temperatures are at their highest and so is demand for energy,” said
Lynn Jurich, Chief Executive Officer of Sunrun. “We look forward to working with Think Energy by ENGIE to give Texas homeowners a choice to better control their electric bills and demonstrate the value of distributed energy resources in meeting Texas’ energy infrastructure needs.”
Sunrun is now available to serve homeowners throughout Houston and surrounding areas with plans to expand to other cities in Texas in the coming months.
“We know well the power of the sun in Texas and are excited to create a new option for homeowners in Houston and other Texas cities by working with Sunrun,” said
John Henderson, head of Think Energy. “Combining rooftop solar with, when needed, grid power at a transparent, fixed rate is a great demonstration of Think Energy’s commitment to make it easy for customers to integrate renewable energy into their daily lives.”
With the addition of Texas, Sunrun is now available in 19 states.
Sunrun gives homeowners access to the smartest energy source – sunlight – and takes care of everything so families can focus on more important things, like putting savings back in their pockets each month. Texas homeowners will be able to save with the sun with Sunrun’s customized solar design and agreement based on the unique needs of their home and lifestyle. Today, Sunrun is proud to power forward in Texas.
Sunrun (Nasdaq:RUN) is the nation’s largest dedicated residential solar, storage and energy services company with a mission to create a planet run by the sun. Since establishing the solar as a service model in 2007, Sunrun leads the industry in providing clean energy to homeowners with little to no upfront cost and at a savings to traditional electricity. The company designs, installs, finances, insures, monitors and maintains the systems, while families receive predictable pricing for 20 years or more. The company also offers Sunrun BrightBox™ solar power generation with smart inverter technology and home battery storage. For more information, please visit: www.sunrun.com.
About Think Energy
Think Energy is a retail electricity provider focusing on residential and small commercial customers. Think Energy – a business of ENGIE Resources NA, one of the largest commercial retail electricity providers in the United States – is also part of the international energy group ENGIE, which has been serving customers, large and small, for more than 175 years. For additional information, visit thinkenergy.com, or follow Think Energy on Twitter @ThinkEnergy and Facebook.com/ThinkEnergy.
Trina Smith[email protected]