Sunrun Inc. (NASDAQ: RUN) appears to be sustaining the momentum initiated by the previous day’s surge as trading unfolds today. In the latest pre-market evaluation, RUN shares were observed to be trading 5.11% higher at $11.51, subsequent to an 8.74% increase in the prior session, culminating at $10.95. This significant upward trend is attributable to the strategic advancement in a South-American virtual power initiative.
Sunrun (RUN) has presently enlisted nearly 1,800 customers—aggregating more than 2,000 batteries—in its PowerOn Puerto Rico virtual power plant. Since last autumn, the program has been furnishing reliable energy sourced from solar-plus-storage systems to the island’s energy grid.
Sunrun stands as the principal contributor in Puerto Rico’s Battery Emergency Demand Response Program and is on the brink of becoming the foremost aggregator to reimburse customers for their involvement.
When Puerto Rico’s electrical utility provider, LUMA, anticipates an inadequacy in power supply, Sunrun’s battery fleet instantaneously dispatches the stored solar energy from enrolled customers’ batteries to stabilize the grid.
Sunrun’s array of batteries furnishes over 15 megawatt hours of energy to bolster LUMA’s grid while still reserving 40%, on average, of the storage capacity for individual backup at each customer’s residence. Following years of development, Sunrun collaborated with LUMA at the conclusion of September and expeditiously initiated enrolling customers in PowerOn Puerto Rico.
Sunrun’s customers receive compensation for their participation while the energy they contribute aids in averting blackouts and the reliance on polluting, fossil fuel peaker power plants. RUN and LUMA anticipate between 50 and 125 events annually necessitating Sunrun’s fleet of enrolled systems to furnish on-demand energy.
With the North American Electric Reliability Corporation cautioning about a growing number of regions confronting resource capacity or energy risks over the ensuing decade, Sunrun’s virtual power plant initiatives—such as PowerOn Puerto Rico—are tailored to assist utilities in aligning power production with escalating customer demand to avert rolling blackouts.
