Sunrun Inc – Best Solar Stock 2021
Recently, Italy was the venue of the G20 2021 summit. Leaders from the 20 major economies of the world converged to discuss important issues facing our world. One of the core issues is climate change. The G20 summit will be followed by COP 26 or the 26th United Nations climate change conference. Solar and renewable energy are the key focus of policymakers around the world. The adoption of such cleaner sources of energy is poised to go up. There is a demand for solutions that provide low-cost, reliable, and clean energy. In such a global environment, it makes sense to look at businesses that facilitate the adoption of clean energy. Sunrun Inc is a California-based company that is the leader in residential solar. It was among the first companies to develop a lease and power purchase agreement that made it easier for retail consumers to move towards solar energy. If we talk about a solar stock to buy 2021, then companies like Sunrun should be analyzed in great detail.
Sunrun’s Latest Quarterly Results
The most recent announced result of Sunrun was the second quarter 2021, announced on 5th August 2021. At the time, Sunrun had stated that the runway for growth was long. It was estimated that only 3.5% of America’s addressable homes of around 77 million had solar energy systems. Sunrun’s revenue from customer agreements and incentives for the quarter rose more than 100%, from $106 million in Q22020 to $219 million. Meanwhile, product sales and energy systems revenue was up from $75 million to $181 million. The company continued to face high costs, which led to a loss of $213 million compared to a loss of $134 million in Q22020. Despite the loss, the company is on a growth path and is among the best solar stock 2021.
Solar Stock To Buy 2021
Conventional electricity generation and the US grid get adversely impacted by weather-related events. A residential solar setup can mitigate that risk to some extent. Battery and storage systems provided by Sunrun are also vital pieces of the puzzle. They help optimize energy usage and production to store power and supply it to the grid during peak-load times.