Financial research concept

Residential Solar Subscriber Value

measures the per-subscriber present value of contracted plus modeled non-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.

Subscriber Value reconciles from contracted and upside components
Upside represented about 4.3% of total Subscriber Value
Modeled value is not current financial-statement revenue
Part of the Residential Solar & Storage Subscription Economics
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Residential solar subscriber value measures the per-subscriber present value of contracted plus modeled non-contracted cash flows from new Subscriber Additions.

Sunrun reported $50,165 per Subscriber Addition for the fourth quarter of 2025.

Subscriber Value reconciles from contracted and upside components

Contracted Subscriber Value was $47,988.

The difference between $50,165 and $47,988 is $2,177 per Subscriber Addition of modeled non-contracted or upside value.

Upside represented about 4.3% of total Subscriber Value

Dividing $2,177 by $50,165 gives approximately 4.3%.

The relatively small percentage does not make the component certain, because it depends on renewals, purchases, and other assumptions beyond the contractual term.

Modeled value is not current financial-statement revenue

Subscriber Value is not current revenue, realized cash flow, or intrinsic value.

Use Contracted Subscriber Value to separate the contractual portion from modeled upside and Creation Cost per Subscriber Addition for the cost side.

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.

Browse the full operating model in Company Analysis →

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 Assets Contracted Subscriber Value Creation Cost per Subscriber Addition Gross Earning Assets Net Earning AssetsSubscriber ValueCurrent conceptUpfront 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 Contracted Subscriber Value Creation Cost per Subscriber Addition Gross Earning Assets Net Earning Assets Upfront Net Subscriber Value Upfront Net Subscriber Value Margin Upside Gross Earning Assets

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Compare total per-subscriber modeled value with its contracted and non-contracted components.

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