Financial research concept

Residential Solar Contracted Subscriber Value

measures the per-subscriber present value of estimated upfront and future contracted cash flows from new subscriber additions.

By Lee BaileyPublished Sep 26, 2026

Research context

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Research date: Sep 26, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 17 connected conceptsPart of the reviewed Residential Solar & Storage Subscription Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

Contracted value was about 95.7% of total Subscriber Value
The remaining $2,177 is modeled upside
Present value is not recognized revenue
Part of the Residential Solar & Storage Subscription Economics
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Residential solar contracted subscriber value measures the per-subscriber present value of estimated upfront and future contracted cash flows from new Subscriber Additions.

Sunrun reported $47,988 per Subscriber Addition for the fourth quarter of 2025.

Contracted value was about 95.7% of total Subscriber Value

Sunrun reported $50,165 of total Subscriber Value per Subscriber Addition.

The $2,177 difference represents modeled non-contracted or upside value, making contracted value about 95.7% of the total.

The remaining $2,177 is modeled upside

That residual is not part of the contractual cash-flow base.

Use Subscriber Value to keep contracted and modeled upside components separate.

Present value is not recognized revenue

Contracted Subscriber Value is a discounted estimate of future cash flows, not customer lifetime revenue recognized at deployment.

It depends on contract payments, servicing costs, equipment replacement, financing distributions, and Sunrun's discount assumptions.

Primary sources: Sunrun 2025 Form 10-K, Sunrun 2026 Proxy Statement, and Sunrun first-quarter 2026 results filing.

Part of the Residential Solar & Storage Subscription Economics

Connects residential solar and storage deployment growth with subscription mix, per-subscriber creation economics, network capacity, and the discounted value of contracted and modeled subscriber cash flows.

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Where this concept fits

Subscriber unit economics and earning-asset valueCurrent relationship
Contracted Subscriber Value and Creation Cost determine near-deployment economics, while Subscriber Value adds modeled upside and Gross Earning Assets extend discounted cash-flow assumptions across the existing subscriber base.
Contracted Gross Earning AssetsContracted Subscriber ValueCurrent conceptCreation Cost per Subscriber Addition Gross Earning Assets Net Earning Assets Subscriber Value Upfront Net Subscriber Value Upfront Net Subscriber Value Margin Upside Gross Earning Assets
Customer growth, subscription mix, and deployment volume
Customer Additions split between subscription customers and system purchasers, while Subscriber Additions feed the long-term Customer Agreement base. Solar and storage capacity measure the physical deployment produced by that customer growth.
Customer Additions Customer Count Solar Capacity Installed Storage Capacity Installed Subscriber Additions Subscription Mix
Storage adoption and cumulative network scale
Storage Attachment Rate describes the mix of new customers taking batteries, while Networked Solar Capacity captures cumulative deployed solar scale across the installed network.
Networked Solar Capacity Storage Attachment Rate

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

RUNOpen operating-model research →17 of 17 reviewed concepts in Residential Solar & Storage Subscription EconomicsSubscriber unit economics and earning-asset value9 of 9 bridge concepts supportedContinue through this bridge:Contracted Gross Earning Assets Creation Cost per Subscriber Addition Gross Earning Assets Net Earning Assets Subscriber Value Upfront Net Subscriber Value Upfront Net Subscriber Value Margin Upside Gross Earning Assets

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Compare public companies

Compare contractual per-subscriber value with total Subscriber Value and the modeled upside residual.

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