February 23, 2023

Sunrun Stock Jumps After Earnings. But Higher Interest Rates Are Still Stinging.

Solar energy developer

Sunrun

boosted its revenue above Wall Street estimates in the fourth quarter, and said the Inflation Reduction Act is likely to benefit the company considerably in 2023.

“It could be a year of gaining market share for Sunrun,” said CEO Mary Powell in an interview with Barron’s, adding that the company has seen particularly strong interest from consumers at the start of 2023. While the residential solar market is expected to add about 7% more capacity in 2023, Sunrun is projecting 10% to 15% growth.

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