Andre Adams

Andre Adams, on behalf of Colin Rusch from Oppenheimer, asked for a quantification of the year-over-year increase in labor costs and inquired about how utilities are leveraging Sunrun's asset base for grid stability outcomes, including geographical variations.

Answer

CFO Danny Abajian clarified that 'Creation Cost' was up 8% year-over-year, which includes both install labor and equipment, and sales and marketing costs were up 4%. President and CRO Paul Dickson and CEO Mary Powell discussed the massive increase in utility interest in Sunrun's assets for quick deployment, especially with the growth of AI and data center energy consumption. They highlighted programs with NRG and Tesla in Texas for grid stabilization and cost control, noting 18 active programs across the country. Paul Dickson also mentioned plans for over 10 gigawatts of dispatchable capacity by the end of 2028, aiming for $2,000 Net Subscriber Value per customer.

Andre Adams asked for a quantification of year-over-year labor cost increases and how utilities are leveraging Sunrun's asset base for grid stability beyond basic power availability, noting geographical variations.

Answer

CFO Danny Abajian clarified that the 8% increase in Creation Costs includes both install labor and equipment, without separate labor cost details. President and Chief Revenue Officer Paul Dickson and CEO Mary Powell highlighted massive utility interest in Sunrun's assets for rapid deployment, especially with growing AI and data center demands. They mentioned 18 active programs, including partnerships with NRG and Tesla in Texas, for grid stabilization and cost control, aiming for over 10 gigawatts of dispatchable capacity by 2028.