Meet Sunrun Flex: A novel solar + storage agreement that adjusts to changing home energy needs
Sunrun is rolling out a new financial agreement for homeowners considering solar + storage: Sunrun Flex. Sunrun is billing it as the first solar and battery storage solution designed to adapt to customers’ changing energy needs.
“Sunrun Flex is a game-changing innovation that is customer-first in all aspects,” said Sunrun CEO Mary Powell. “Customers appreciate the peace of mind that comes from removing any guesswork and knowing they can flex their consumption depending on their energy lifestyle, while also providing protection for those hot summer months when consumption naturally increases.”
Sunrun Flex is designed to protect against increased energy use from life events, such as growing a family or purchasing an electric vehicle, but also offer credit for decreased energy usage.
Sunrun PPAs and VPPs
Sunrun is often at the forefront of residential solar sales innovations. Sunrun first introduced the residential power purchase agreement in 2007. It is the leader in leased solar systems (TPO), and it is fast-becoming a leader in virtual power plants (VPPs). Sunrun’s CalReady power plant has more than quadrupled in size, for example, with more than 56,000 Sunrun customers’ solar + battery systems providing energy to California’s grid.
What’s different about Sunrun Flex?
Home solar systems are often designed to either match a household’s current energy usage or be oversized in anticipation of future needs. This can lead to unmet needs when energy usage increases or when solar energy is not used immediately.
With Flex, Sunrun fills in the gap to fit what a family needs now and in the future. Sunrun Flex optimizes the flow of solar energy to provide the most benefit to the customer, whether that’s immediate self consumption, storing it in the battery for later use, or exporting it to the grid so that the customer can get utility credits.
“We know households that go solar increase their energy consumption by about 15% within the first year. It’s also not uncommon for solar customers to adopt an electric vehicle, which drives up their energy consumption even more,” said Sunrun President and Chief Revenue Officer Paul Dickson. “Flex is designed for the future of home energy. As customers adopt a more electrified lifestyle, Flex will provide them and their communities with benefits on day one, while unlocking future revenue opportunities for Sunrun.”
Sunrun Flex will be more flexible than the typical fixed rate PPA in a few different ways. Customers will still have a predictable monthly minimum payment, but will only pay for extra energy above their pre-solar consumption baseline when they use it at a low, locked-in Flex Rate. Flex households can also benefit from battery backup during outages and can earn Sunrun Rollover Credits.
Sunrun Flex Rate and Rollover Credits
Sunrun Flex systems are sized above a customer’s pre-solar usage for the customer’s growing energy needs. The customer will always pay a minimum monthly bill, and if the customer exceeds their energy baseline in a month, they will purchase the additional electricity at a Flex Rate.
When customers use less energy than their baseline, they earn Rollover Credits that can be used against their Flex charges in future months. This allows customers to bank credits during months of less energy demand and apply them later when they exceed their baseline.
Other Sunrun Flex features
Sunrun Flex comes standard with battery storage, providing most homes with full backup energy protection during outages and helping customers avoid peak utility rates by using stored solar power in the evenings.
Grid Services: Flex customers are enrolled in Sunrun’s grid services programs and are compensated for participating, where available.
Performance Guarantee: Every Sunrun Flex subscription includes 24/7 system monitoring, free maintenance and repairs, a solar performance and battery health guarantee, and Flex Guarantee, which ensures a customer will not pay Sunrun more than the panels produce annually.
