Sunrun and Tesla Partner to Support Texas Power Grid Using Residential Solar-Plus-Battery Systems
06 Agosto 2024 - 5:01PM
Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy
as a subscription service, announced today that it has expanded its
support for the energy grid in Texas with a partnership with Tesla
Electric, a retail electricity provider operated by Tesla Energy
Ventures LLC, a subsidiary of Tesla, Inc. (Nasdaq: TSLA). The
partnership has already enrolled more than 150 Sunrun customers in
an aggregated power program and will scale up enrollments while
dispatching stored solar energy from at-home batteries to rapidly
increase available electricity reserves on the grid during periods
of high consumption.
The ongoing partnership marks Sunrun’s first operational
aggregated power plant program in the Lone Star State and comes
just weeks after Hurricane Beryl caused widespread power outages
impacting nearly 3 million homes and businesses. It also comes
three years after the state’s devastating and deadly power grid
meltdown during the winter storm in February 2021. Since both
catastrophic events, the Electric Reliability Council of Texas
(ERCOT), the state’s grid operator, has begun adopting ways to
diversify and strengthen the power grid, including through the
Aggregated Distributed Energy Resources Task Force.
“Texas grid has already experienced a traumatic spring and
summer due to weather vulnerabilities and we know the state also
needs more power to meet soaring demand on a daily basis. We’re
eager to bring Sunrun’s on-demand battery response expertise to
help make the grid more resilient against outages,” said Sunrun CEO
Mary Powell. “Texas families are increasingly opting to add
batteries to their solar installations. On-site energy storage not
only provides homeowners peace of mind with outage protection but
also enables them to participate in programs like these by
contributing to solutions that better the lives of those in their
communities.”
Severe weather events and soaring electricity demands in Texas
highlight the importance of solar-plus-battery systems for
residents seeking greater control, energy security, and
independence. Sunrun will enhance these benefits through its
partnership with Tesla Electric by enabling residents to receive
compensation for sharing energy from their Tesla Powerwall
batteries to help stabilize the electric grid for all Texans.
Sunrun customers who enroll will be participating in ERCOT’s
Aggregated Distributed Energy Resources pilot program aimed at
strengthening grid reliability by networking together
customer-sited storage devices to serve as a resource for the
wholesale electricity market. Additionally, customer Powerwall
batteries will also help to lower the costs of energy at the
wholesale level. The resulting energy cost savings will be shared
with customers.
Customers will be compensated for their participation in the
form of yearly payments, currently calculated at $400 per Powerwall
for 2024 participation. In addition, customers will retain a
portion of the stored energy in their batteries to provide back-up
power to their homes in the event of a power outage. Sunrun will
also earn incremental recurring revenue for the program.
Tesla Electric is one of Sunrun’s preferred Retail Electricity
Providers for Sunrun customers in Texas because of its attractive
rate structures and ability to participate in this power plant
program. Sunrun customers with solar panels combined with a Tesla
Powerwall battery are eligible to participate once they choose
Tesla Electric as their electricity provider.
With nearly one million customers and more than 116,000
installed storage systems, Sunrun has a proven track record of
incentivizing customers to support local power grids. Sunrun
currently operates more than a dozen power plants across the
country, including the largest single-owner virtual power plant
program.
About SunrunSunrun Inc. (Nasdaq: RUN)
revolutionized the solar industry in 2007 by removing financial
barriers and democratizing access to locally-generated, renewable
energy. Today, Sunrun is the nation’s leading provider of clean
energy as a subscription service, offering residential solar and
storage with no upfront costs. Sunrun’s innovative products and
solutions can connect homes to the cleanest energy on earth,
providing them with energy security, predictability, and peace of
mind. Sunrun also manages energy services that benefit communities,
utilities, and the electric grid while enhancing customer value.
Discover more at www.sunrun.com
Media ContactWyatt SemanekDirector, Corporate
Communicationspress@sunrun.com
Investor & Analyst ContactPatrick JobinSVP,
Deputy CFO & Investor Relations Officerinvestors@sunrun.com
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