US residential solar installer Sunrun ended 2024 with an energy storage attachment rate of 62% in Q4.
Up from the 60% registered during Q3 2024, the attachment rate for customers opting for batteries with their solar PV installation varies per region, with the two island regions of Hawaii and Puerto Rico at nearly 100% energy storage attachment rate followed by California with approximately 89% and Texas at 66%. The rest of the country, however, was at 10% during Q4 installations.
As storage capacity installation grew in double digits during Q4 2024, added solar PV grew by 6% year-on-year to 242MW in Q4 2024. On the other hand, 392MWh of storage was added in Q4 2024, up 78% from the same period in 2023.
The company’s total installed storage capacity reached 2.5GWh, while installed solar PV is at 7.5GW at the end of 2024.
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For the third quarter in a row, the company generated a positive cash generation, with US$34 million in Q4 2024. Sunrun expects this to continue throughout every quarter in 2025, as it will prioritise its cash generation.
As a consequence of that priority, the company expects to target higher-value offerings, which comprises the increase in the storage attachment rate by ten points up to 66%. It ended 2024 with a storage attachment rate of 57% across the whole year.
