Sunrun, SK E&S and other affiliated companies announced they have co-invested in a new venture with plans to electrify the home. This partnership will use the resources and knowledge base of both well-established companies to advance the development of a modern energy system.
Using Sunrun’s existing home solar and battery business as a starting place for establishing long-term customer relationships, this partnership will execute on its ambitious plans to electrify the whole home and contribute to Sunrun’s mission to create a planet run by the sun. Sunrun’s 20-plus year customer relationships offer future opportunities to engage consumers and fully electrify the home through additional products and services.
“We need to quickly move away from using unreliable, expensive and polluting energy sources to power our homes and transportation system,” said Lynn Jurich, CEO and co-founder of Sunrun. “Our partnership with SK Group will help pave the way for a future where energy consumers have a completely electrified home that is powered by more reliable, local, affordable and clean energy from Sunrun’s rechargeable solar battery systems.”
The initial investments from Sunrun and SK E&S and other affiliated companies will go toward forming a new company that will conduct research and development activities to accelerate the adoption of renewables, the electrification of homes and the transition to a connected and distributed energy system. The new company will initially target the U.S. residential market, and it expects to expand internationally over time.
“Given the trend toward 3D (decarbonization, decentralization, digitalization), we have been and will continue to be an active player in the Energy Solutions field,” said Daejin Choi, senior VP of the Energy Solution Group at SK E&S. “We believe our partnership with Sunrun can help provide a cleaner, smarter, brighter energy solution service to end-users.”
News item from Sunrun