Sunrun Inc (NASDAQ:RUN), which happens to be one of the trusted providers for residential solar, storage and energy services has today made the much awaited announcement. Through one of its top executives, it revealed that just within a timeframe of four months it was able to double its total addressable market (TAM).
Some top trusted sources indicate that Sunrun has plans underway to expand its reach to about seven new markets. That will see the provider succeed in its quest to deliver high quality services to Rhode Island, New Mexico, Vermont, Texas, Wisconsin, Washington, D.C and Florida.
On top of this, it will be seeking out to extend its business operations in Pennsylvania. A number of the top policymakers according to Yahoo recently passed a legislation which targeted the reinstating of the solar net metering and this led to company re-entering the state of Nevada.
Sunrun operations are now established in 22 states which represents a major expansion. The company is bringing about a major transformation considering that its customers will get to benefit from the increasing homeowners’ access to solar power and the falling solar installation costs.
Recent legislative wins is a real showcasing of the fact that rooftop solar continues to be a bipartisan issue. Voters as well as the various lawmakers globally have a high regard for the numerous benefits that come with solar energy. It is a remarkable way for reducing energy costs not forgetting the fact that it is also one of the ways to modernize the energy grid.
CEO of Sunrun, Lynn Jurich while addressing a press conference recently said, “Expanding to these new markets will give homeowners the opportunity to power their homes directly from their rooftops, making energy more affordable and the electric grid cleaner and more reliable. Better yet, we provide this service by creating one of our country’s other great needs: new, highly paid jobs that can be neither exported nor automated.”
It goes without saying that these expansions will lead to the provider generating more revenues to rise and become an industry leader. It will also be able to improve on service delivery.