Comcast Enters Into Agreement With Partner To Offer Residential Solar Program
August 25, 2017 Email This Story Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
Sunrun Inc. and Comcast announced a 40-month agreement under which Sunrun will be the exclusive residential solar energy provider for Comcast Cable, and Comcast Cable will serve as one of Sunrun’s strategic partners through marketing campaigns in selected markets.
Working with Sunrun to make smart solar energy and storage solutions available to consumers complements Comcast’s efforts to offer smart home services.
Comcast currently offers customers the ability to manage, control and operate a number of key smart home functions, including energy consumption management, with its Xfinity Home service, a home security and home automation solution.
Comcast plans to begin marketing Sunrun’s rooftop solar services to its customers in selected states later this year. This agreement follows a successful one-year solar pilot-program in which participating Comcast customers chose Sunrun’s BrightSave offering, paying little to no money down for 20 years of solar energy at a fixed monthly rate.
As part of this agreement, Comcast will receive fees for new customers they bring to Sunrun. Comcast may also earn a warrant of up to 9.99% of Sunrun’s outstanding common shares. The warrant is earned pro rata only after 30,000 customers under the agreement are installed by Sunrun. The warrant is fully earned if Sunrun installs 60,000 customers under the agreement.