Sunrun, a leading US clean energy provider, reported financial results for Q3 2024, highlighting key metrics in revenue, gross margins, and energy capacities. Total revenue was $537.2 million, reflecting a 5% year-over-year decrease compared to Q3 2023. Despite this revenue dip, Sunrun delivered strong performance in installed capacities, achieving 336 MWh of storage capacity. Solar energy installations reached 230 MW, at the high end of guidance, contributing to a total networked solar capacity of 7.3 GW. Looking forward, Sunrun expects to install between 320 to 350 MWh of storage capacity and 240 to 250 MW of solar capacity in Q4 2024. The management reaffirmed its guidance on cash generation, projecting between $50 million and $125 million for the fourth quarter.
Solar installations and storage growth boost Sunrun Q3 results
Sunrun’s Q3 financials reveal a slight revenue dip, but renewable installation guidance remains on track. (Image Credit/Source: SOLARbytes/Sunrun)
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