Utility Dive (Industry Dive)

Sunrun Installation Volumes Fall in Q4 2025 as VPP Capacity Grows

Sunrun reported a year‑over‑year decline in Q4 2025 subscriber additions and installation volumes, with subscriber value metrics falling sharply. Gross subscriber value dropped 2% to $50.2 million and net subscriber value fell 30% to $9.1 million, while storage attachment rose to 71%. The company’s stock tumbled 35% after the earnings release, reflecting investor skepticism despite cash generation exceeding guidance. Sunrun plans to reduce affiliate‑driven sales, focus on higher‑margin direct sales, and leverage a new joint venture to add 300 MW of capacity.