Specialist
Director at Baker Electric Inc
Agenda
- Sunrun's (NASDAQ: RUN) virtual sales and customer acquisition
- Customer transitions and adaptation of Brightbox
- Vivint Solar Acquisition
- Expansion of grid services
- Future of net metering
Questions
1.
Can you outline how the residential solar market has evolved over the past year and what impacts coronavirus has had?
2.
What has historically been Sunrun’s core strength and who have been its strongest competitors?
3.
How important is brand recognition in this segment of the solar market and are new entrants able to capture market share at least regionally?
4.
Could you give your first impressions on the recently announced acquisition of Vivint Solar and what synergy Sunrun may hope to achieve?
5.
What do you think is the rationale behind the timing of the acquisition of Vivint Solar?
6.
How has the acquisition changed the industry landscape? Which competitors do you think still remain at large?
7.
Has Sunrun been able to gain some new markets through the Vivint Solar acquisition?
8.
Considering that Vivint and Sunrun both have very different approaches on cost of sales, as you mentioned, what would you say the acquisition does to that? Do you think Sunrun might be, as you say, re-evaluating commissions for salespeople?
9.
Given that Vivint might have to review this whole commission structure, is there, in the industry, significant risk of turnover? What are those implications if sales staff start to jump ship?
10.
With sales going virtual and many people spending less time outside, how do you believe lead channels have changed and adapted? Is retail presence as important today?
11.
In your opinion, what have historically been more effective channels for customer acquisition, this Vivint approach or the Sunrun approach?
12.
What are the highest-margin products or services for Sunrun? What are the states of those end markets in which they are sold?
13.
How much help has net metering been to the industry and how crucial is it that it remains in place?
14.
Where do you think the regulators stand right now?
15.
For the customers who bought their systems during net metering 1.0, are they grandfathered in or do their rates change to 2.0?
16.
Can you elaborate on the selling point for Sunrun’s Brightbox storage system and how it competes with competitors?
17.
How much of an opportunity is there to sell this Brightbox energy system to Vivint customers? Would there be, as you said, some issues with compatibility?
18.
Are there any other cheaper alternatives brands that customers might assess?
19.
Why do you think the Brightbox was not designed as an AC-coupled battery?
20.
How might grid services fit into the equation? Is there an overlap between Sunrun and Vivint?
21.
How much more of an opportunity is there for increased market penetration in California and is there any hint on where that market might go and any other markets in the south that you feel are noteworthy?
22.
Is there anything else you wanted to highlight or expand on?
