Solar company Sunrun has formed a multi-faceted partnership with National Grid (NGG), an investor-owned utility, to promote the use of cost-effective rooftop solar in the U.S.
The partnership includes a joint marketing agreement, a collaborative grid services pilot, and a direct investment by National Grid in Sunrun rooftop solar systems. National Grid has committed $100 million in equity to this partnership.
The program initially targets approximately 100,000 single family homes in National Grid’s downstate New York service area. Shares of Sunrun are nearly 3% higher in premarket trade, while National Grid shares are fractionally lower.
By Caroline Williams