Sunrun, Comcast Enter Into Agreement To Offer Residential Solar Program

Sunrun (RUN) and Comcast (CMCSA) announced an agreement designed to accelerate the adoption of solar energy through the installation of Sunrun's rooftop solar products and provide consumers with savings on their electric bills. Under the 40-month agreement, Sunrun will be the exclusive residential solar energy provider for Comcast Cable, and Comcast Cable will serve as one of Sunrun's strategic partners through marketing campaigns in selected markets. Comcast plans to begin marketing Sunrun's rooftop solar services to its customers in selected states later this year.

This agreement follows a successful one-year solar pilot-program in which participating Comcast customers chose Sunrun's BrightSave offering, paying little to no money down to enjoy 20 years of solar energy at a fixed monthly rate.

As part of this agreement, Comcast will receive fees for new customers they bring to Sunrun. Comcast may also earn a warrant of up to 9.99% of Sunrun's outstanding common shares. The warrant is earned pro rata only after 30,000 customers under the agreement are installed by Sunrun. The warrant is fully earned if Sunrun installs 60,000 customers under the agreement.

Read more at: 
http://thefly.com/landingPageNews.php?id=2600657

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.