Sunrun, Tesla to partner in supporting Texas power grid via solar-plus-battery systems

Sunrun (NASDAQ:RUN) unveiled a partnership Tuesday with Tesla’s (TSLA) retail electricity subsidiary Tesla Electric to dispatch stored solar energy from at-home batteries to rapidly increase available electricity reserves on the Texas power grid during times of high consumption.

Customers will be compensated $400/year for their participation while also retaining a portion of the stored energy in their batteries to provide back-up power to their homes in the event of a power outage, the company said.

Sunrun (RUN) will also earn incremental recurring revenue for the program, which it said marks its first-ever operational aggregated power plant program in Texas.

“Texas’ grid has already experienced a traumatic spring and summer due to weather vulnerabilities and we know the state also needs more power to meet soaring demand on a daily basis,” CEO Mary Powell said. “We’re eager to bring Sunrun’s on-demand battery response expertise to help make the grid more resilient against outages.”

Sunrun (RUN) shares +7.3% post-market Tuesday after it reported better than expected Q2 earnings and revenues.