Sunrun announced first quarter financial results

Polaris solar PV net news: Although the United States several third-party solar net metering policy change affect, Sunrun’s financial results show strong earnings growth and its positive growth trend.

Sunrun announced its 2016 financial performance in the first quarter, announced the doubling of revenue up to $ 99 million nominal contracts rose to $ 2.6 billion.

Sunrun every quarter in the loss, while building long-term value, the company reported that its operating expenses to $ 166 million.

However, the non-controlling interest loss of $ 91 million, Sunrun earned its shareholders $ 13 million since the company went public, can achieve earnings per share positive.

Like SolarCity,Sunrun the goal is to achieve positive cash flow, but did not indicate when it will come true. First quarter, Sunrun cash balance fell to $ 4.4 million.

Sunrun residential solar total deployment rose by 63% in the first quarter, exceeded expectations 7%, such as Sunrun and partner installing PV systems. Sunrun deployments growing, 148% higher than last year.

The company’s direct sales are also growing. The first quarter, the company of 85% photovoltaic system is deployed through operating leases, but the company expects its share of the direct sales will increase to 20% in the future.

Sunrun pointed out that its net metering policy problem affects deployments in the first quarter, including Nevada the abolition of net metering policy in late December. Points out that Massachusetts, California and other States deploy in the first quarter by the net metering the impact of uncertainty in the future.

Sunrun is net metering policies did not size of SolarCity. SolarCity’s first-quarter orders volume has greatly reduced its expected in 2016, Sunrun has maintained its early 285MW installed capacity goal.

The company reports in addition to selling and administrative expenses of $ 2.97 per watt installation cost, there are a few quarter is less than 3 USD/Watt. Sunrun pointed out that the direct installation costs of only $ 2.39/w.

These favourable economic factors into account, the company is expected to continue this year, doubling the direct installation business while maintaining its channel partner performance flat. (/Tina translation)

Original title: Sunrun announced first-quarter financial results

Posted in Solar Charger.