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May 5 , 2021 sunrun Sunrun Reports First Quarter 2021 Financial Results Customer Additions of 23,556 in Q1 , Bringing Total Customers to over 573,000 , 18 % year over - year growth in Customers pro - forma for Vivint Solar Increasing Full - Year Growth Guidance to 25 % to 30 % Net Subscriber Value of $ 8,197 resulting in Total Value Generated of $ 165 million during Q1 Annual Recurring Revenue of $ 683 Million with Average Contract Life Remaining of 17 years Net Earning Assets of $ 4.2 billion , including $ 813 million in Total Cash Networked Solar Energy Capacity of 4.1 Gigawatts SAN FRANCISCO , May 05 , 2021 ( GLOBE NEWSWIRE ) -- Sunrun ( Nasdaq : RUN ) , the nation's leading provider of residential solar , storage and energy services , today announced financial results for the first quarter ended March 31 , 2021 . " This year is on track to be the best in the company's history . With an accelerating growth rate and expanding market reach , Sunrun is leading the country to a clean energy future , " said Lynn Jurich , Sunrun's Chief Executive Office and co - founder . " Now is the time for us to move to a distributed energy system to meet the increased demands placed on our energy system from broad - based adoption of electric vehicles and improve the resiliency of our aging energy system . " " Our momentum in the fourth quarter has continued into 2021 , " said Tom von Reichbauer , Sunrun's Chief Financial Officer . " The Sunrun team delivered seasonal volume records at strong margins , while meeting the demands of our ongoing integration with Vivint Solar . We expect to accelerate our growth even further while improving the value we bring to our partners and customers . Our execution , scale advantages , differentiated service offering , and leading competitive position give us confidence to increase our full - year growth guidance to 25 % to 30 % . " Growth & Market Leadership The growth opportunity for the solar industry is massive . Today , only 3 % of the 77 million addressable homes in the US have solar . The US residential electricity market is over $ 187 billion per year and ongoing utility spending has resulted in escalating retail rates , increasing our value proposition and expanding our addressable market . Households that adopt electric vehicles consume approximately double the amount of electricity , increasing our market opportunity and value proposition even further . In addition to delivering a superior electricity service , we are increasingly working to network our dispatchable solar and battery systems