Sunrun's 'CalReady' Power Plant Supports California's Grid With 16,200 Home Solar-Plus-Storage Systems
Portfolio Pulse from Benzinga Newsdesk
Sunrun (NASDAQ:RUN), a leading clean energy provider, has networked over 16,200 home solar-plus-storage systems in California to support the state's electrical grid, particularly during peak demand times in summer. This initiative, known as CalReady, aims to reduce grid strain and prevent power emergencies by supplying critical energy. Sunrun's efforts have doubled the capacity and participant number from the previous year, making CalReady the largest virtual power plant in the country. The program, part of California's Strategic Reliability Reserve, compensates Sunrun customers for sharing their stored solar energy, enhancing grid resilience and reducing the risk of blackouts.
May 08, 2024 | 9:03 pm
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Sunrun's CalReady program networks over 16,200 home solar-plus-storage systems to support California's grid, doubling its capacity and participant number from the previous year. This initiative not only showcases Sunrun's commitment to clean energy and grid resilience but also positions the company as a leader in the virtual power plant space.
Sunrun's significant expansion of the CalReady program and its role in enhancing grid stability during peak demand times highlight the company's growing influence in the clean energy sector. This initiative not only demonstrates Sunrun's innovative approach to energy management but also its potential for increased revenue through customer compensation and partnerships with grid operators. The positive publicity and demonstration of technological and operational capability are likely to attract more customers and potentially favorable regulatory attention, contributing to a positive short-term impact on Sunrun's stock.
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