Sunrun’s Partnership With Tesla Isn’t Enough To Draw Retail Cheer, But Traders Believe It Could Influence Guidance

Clean energy provider Sunrun (RUN) on Thursday announced a home energy plan in Texas in partnership with EV giant Tesla Inc. (TSLA).

The new home energy plan is created exclusively for Sunrun Flex customers in Texas. Sunrun Flex is a solar and battery storage solution designed to adapt to customers' changing energy needs, introduced by the company in May. It includes Tesla Powerwall batteries to provide households with advanced backup power during outages.

The new plan, developed in partnership with Tesla, combines Sunrun Flex solar and storage with a customized Tesla Electric retail plan to deliver lower rates and seamless backup. Tesla will also offer competitive sellback rates for excess solar energy sent back to the grid.

“This partnership creates the most compelling and comprehensive home energy solution on the market for Texas consumers,” said Sunrun CEO Mary Powell.

On Stocktwits, retail sentiment around Sunrun shifted from ‘bearish’ to ‘neutral’ territory, while message volume increased from ‘extremely low’ to ‘low’ levels.

A Stocktwits user opined that while the Tesla partnership isn't a game changer in itself, it could influence guidance if it drives higher leasing uptake.

Another user believes that although the news is good, it is limited to the state of Texas.

Tesla’s energy generation and storage revenue declined 7% year-over-year in the second quarter to $2.79 billion, primarily due to a lower average selling price. The company deployed 9.6 GWh of energy storage products in the three months through the end of June.

Tesla offers two energy storage products: the Megapack and the Powerwall. While the Powerwall is a compact home battery that stores energy generated by solar or from the grid, Megapack is a utility-scale battery that provides reliable energy storage to stabilize the grid and prevent outages.

TSLA stock is down 25% this year but up approximately 40% over the past 12 months.

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