/U.S. Residential Solar Installer Sunrun 2021Q1 Total Revenue Grows 59%
U.S. Residential Solar Installer Sunrun 2021Q1 Total Revenue Grows 59%
2021.May08
According to foreign media sources, the total revenue of Sunrun Inc. in the first quarter of 2021 was US$334.8 million, an increase of US$124.1 million over the first quarter of 2020 and a year-on-year increase of 59%. Revenue from customer agreements and incentives was US$174.6 million, an increase of US$75.5 million from the first quarter and a year-on-year increase of 76%. The sales revenue of solar energy systems and products was US$160.2 million, an increase of US$48.6 million over the first quarter of 2020 and a year-on-year increase of 44%.
The total cost of revenue was US$294.4 million, an increase of 73% year-on-year. Total operating expenses were US$513.3 million, a year-on-year increase of 88%. Operating costs in the first quarter of 2021 include $2.2 million in non-recurring expenses, mainly restructuring and transaction costs related to the acquisition of Vivint Solar.