Sunrun Inc – 2021 Solar Stock
One industry that has benefitted from consistently declining costs in the solar industry. Solar panel costs have been on a downtrend, and the technology to make those panels has also evolved over the last few years. This cost reduction has facilitated an accelerated rate of adoption. The demand for solar in residential and industrial environments is also driven by sustainability has become an important part of government policy. Consumers are also more conscious of climate change and issues related to sustainability. Companies like Sunrun are the leading players in the residential solar market. The company has addressed the issue of the high initial cost of setting up a home solar system with its solutions. It has marketed that solar energy is cheaper than conventional energy over some time. If you are interested in investing in a solar stock for 2021, then Sunrun could be worth exploring.
A Brief Overview Of Sunrun’s Business
Sunrun is involved in designing, developing, installing, selling, and maintaining residential solar energy systems. Sunrun offers its solar energy solutions through power purchase and lease agreements. In the company’s view, such agreements insulate its customers from fluctuations in retail electricity rates, making the energy pricing more predictable. Sunrun installs solar energy systems in its customers’ homes and offers a term of 20-25 years of power production through such systems. Monitoring and maintenance of such systems is another revenue stream for the company. Structuring the business in such a way gives a steady and regular stream of cash flows to Sunrun. The company sells to its customers via three distinct channels. The first is direct-to-consumer, the second is through strategic partnerships, and the third is through solar partnerships. In 2021 solar stock to track is Sunrun Inc.
Sunrun’s stock was in a strong uptrend since the March 2020 market crash. At one point, it was up more than 800%. However, from January 2021 to August 2021, the stock fell by a massive 50%. It is beginning to trend up again and closed at $57 on 29th October, having risen by almost 30% in October.