Sunrun (NASDAQ:RUN) stock surged 10% following the announcement of a new partnership with Tesla (NASDAQ:TSLA) to offer an integrated home energy solution for Texas residents.
The collaboration, branded as Tesla Electric + Sunrun Flex (NASDAQ:FLEX), combines Sunrun’s solar and storage subscription service with a tailored Tesla Electric retail plan. This joint offering aims to deliver Texas homeowners lower electricity rates, reliable backup power during outages, and optimized value from their solar energy systems.
Texas’ electricity market is notoriously complex, with over 100 retail providers offering diverse rate structures that often don’t align well with home solar and storage setups. The new plan includes Tesla Powerwall batteries, providing crucial backup power amid the state’s history of severe weather-related blackouts and grid instability.
“This partnership creates the most compelling and comprehensive home energy solution on the market for Texas consumers,” said Sunrun CEO Mary Powell. “By combining the expertise and technology of two industry leaders, we’re putting customers first.”
Key features of the plan include predictable monthly payments, coordinated battery management and solar crediting, rollover credits for unused energy, and performance guarantees. Customers can also participate in Tesla’s Virtual Power Plant program, which allows sharing of power during grid stress periods.
The Tesla Electric + Sunrun Flex plan is now available to Sunrun Flex customers across Texas in regions with retail electric options.
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