Sunrun grows installed solar and storage capacity by double-digits in Q3
US residential installer Sunrun has seen a double-digit increase in solar PV and storage capacity installations during Q3 2024.
Continuing its focus on increasing storage attachment rate to residential solar systems, the company added 336MWh of storage in Q3 2024, up 92% year-on-year and a 27% increase from the previous quarter. Overall the company has now added over 2.1GWh of storage capacity, nearly doubling its numbers from Q3 2023.
Solar PV additions have grown by 19% on a quarterly basis, with 230MW added in Q3 2024; however the numbers are 11% down compared with Q3 2023. Quarterly growth was both driven by California (up 19% from Q2 2024) and non-Californian markets (up 20%). In total, Sunrun has 7.3GW of networked solar capacity as of the end of Q3 2024, up 13% from Q3 2023.
Sunrun expects California to return to a 10% year-on-year growth in Q4 2024, a state which has struggled in the residential PV market, while energy storage kept soaring, due to the implementation of the net energy metering 3.0 (NEM 3.0) scheme in April 2023. Despite the negative outlook for solar PV in the residential market, the attachment rate of solar PV with a battery energy storage system (BESS) has quickly risen, according to the US Energy Information Administration (EIA).
