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November 4 , 2021 sunrun Sunrun Reports Third Quarter 2021 Financial Results Customer Additions of 30,698 in Q3 , Bringing Total Customers to 630,441 , 20 % year - over year growth in Customers pro - forma for Vivint Solar Net Subscriber Value of $ 7,605 in Q3 , an increase of $ 2,031 from Q2 Annual Recurring Revenue of $ 787 Million with Average Contract Life Remaining of 17.3 years Net Earning Assets of $ 4.5 billion , including $ 941 million in Total Cash Networked Solar Energy Capacity of 4.5 Gigawatts SAN FRANCISCO , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Sunrun ( Nasdaq : RUN ) , the nation's leading provider of residential solar , storage and energy services , today announced financial results for the third quarter ended September 30 , 2021 . " Sunrun is empowering customers by offering clean , affordable and resilient energy options , while also addressing the urgent need to decarbonize our economy to combat climate change , " said Mary Powell , Sunrun's Chief Executive Officer . " I believe we will have another break - out year in 2022 as we accelerate our efforts to transform our energy system , drive continued innovation and differentiated customer offerings , and deliver sustainable growth to create value for all stakeholders . " " The Sunrun team continues to execute well , delivering robust growth in our customer base while also delivering a strong improvement in our customer margins during Q3 , despite a dynamic supply chain and operating environment , " said Tom von Reichbauer , Sunrun's Chief Financial Officer . " We remain on track to deliver a strong 2021 and are excited about the trajectory of the business heading into 2022. We believe the strong capital markets , combined with our operating scale and discipline , sets us up well for above - market growth and strong cash generation in 2022. " Growth & Market Leadership The growth opportunity for the solar industry is massive . Today , only 3.5 % 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 to provide resources to the grid , such as virtual power plants , to also serve the $ 120 billion annual market for utility capex . These virtual power plants offer greater potential for