If you regularly shop at Costco, you may have spotted a kiosk for home solar installations in the store, or even spoken to a store representative about installing their own branded Costco solar panels. Costco has a partnership with Sunrun, one of the largest residential solar companies in the country, to offer their members special benefits when they go solar. Here are the details of Costco’s partnership with Sunrun.
Costco solar partnership with Sunrun: benefits & takeaways
Sunrun is a California-based company that installs solar in 21 states across the country, primarily in the Northeast and Southwest. In 2017, they beat out Tesla Energy (formerly SolarCity) and installed the most residential solar systems in the United States. If you’re a Costco member, you are eligible for some special benefits if you go solar with Sunrun, including Costco cash and an enhanced roof warranty.
When you choose to buy a solar panel system through the Sunrun-Costco partnership, you’ll receive a Costco cash card worth 10 percent of your solar equipment costs (before taxes). This benefit only applies if you own your system – if you opt for a solar lease or power purchase agreement (PPA) with Sunrun, you won’t receive a Costco cash card.
Based on Sunrun proposals we have reviewed from EnergySage Solar Marketplace users, equipment costs can range anywhere from 25 to 50 percent of the gross cost of the installation, so your Costco cash card benefits will vary accordingly.
For example, if your system costs $20,000 in total, your equipment costs may range from $5,000 to $10,000, which means you’d receive a Costco cash card with a value of anywhere between $500 and $1,000. (The actual costs for your project depend on many factors; to get an accurate estimate, you’ll need to talk to a company representative.)
In addition to the Costco cash card, you may be eligible for an additional cash bonus if you’re a Costco Executive Member. You’ll need to speak with a store representative to get more specific information.
Costco members who go solar with Sunrun also receive an enhanced 15-year roof penetration warranty from Sunrun. (The standard offering from Sunrun is 10 years.) This is a separate warranty from Sunrun’s workmanship warranty, which covers the installation, and a product manufacturer’s warranty, which covers your actual solar equipment.
Does Costco back Sunrun’s warranties?
No. Although Costco and Sunrun are partners in advertising solar, Costcodoes notback the warranties for your solar panel system – all they provide is a Costco Cash Card and access to their Costco Member Service Hotline. Though it is not immediately clear from Sunrun and Costco’s advertising materials, our research into the Sunrun customer agreement reveals that the extended roof penetration warranty offered through this partnership is provided by and fulfilled exclusively by Sunrun, not by Costco. We reached out to Costco directly for any further details, and their spokesperson declined to comment on this topic.
Should you get Costco solar panels through Sunrun?
There are some benefits to working with a national-scale solar installer over a local one – they have a recognized brand name and meaningful warranties. However, larger companies don’t always offer the best prices, and they aren’t known for personalized customer service (for more insight, read Fast Company’s “The Best Way To Get Cheap Solar: Shop Around”). Additionally, you can read our full analysis of Sunrun’s reviews across the web to get more perspective on their strengths and weaknesses.
Regardless of which installer you choose, EnergySage’s recommendation is always to compare multiple installers to find the one that’s the best fit for your needs. You can easily get quotes from installers near you by registering your property on the EnergySage Solar Marketplace. If you’re just starting the shopping process, learn more about how much solar can save you by using EnergySage’s Solar Calculator.
FAQs
Additionally, Sunrun partners with Costco to offer members a Costco Shop Card worth 10% of their total solar purchases. With Sunrun, you can pay for your solar panels through a cash purchase, loan, lease or PPA. You can enter a monthly lease or PPA with Sunrun for $0 down and terms of up to 25 years.
Does Sunrun partner with Costco? ›
Additionally, Sunrun partners with Costco to offer members a Costco Shop Card worth 10% of their total solar purchases. With Sunrun, you can pay for your solar panels through a cash purchase, loan, lease or PPA. You can enter a monthly lease or PPA with Sunrun for $0 down and terms of up to 25 years.
Does Costco stand behind Sunrun? ›
Does Costco back Sunrun's warranties? No. Although Costco and Sunrun are partners in advertising solar, Costco does not back the warranties for your solar panel system – all they provide is a Costco Cash Card and access to their Costco Member Service Hotline.
What are the disadvantages of Sunrun? ›
Some of the biggest downsides of working with Sunrun include the questionable sales process and the overall lack of communication. Based on reviews we read through, some of the sales reps misrepresent information about the federal tax credit, installation timelines and long-term savings.
What is the Sunrun controversy? ›
SunRun Inc. has been hit with a class action lawsuit alleging the San-Francisco-based solar energy company deceived consumers into leasing SunRun solar panels by making misleading claims about their cost savings and about the increasing costs of electricity.
What company owns Sunrun solar? ›
Institutional Investors own SunRun with a combined stake of 97.95% of the company. The top shareholders include: BlackRock Fund Advisors (9.60%) The Vanguard Group Inc (8.45%)
What companies has Sunrun bought out? ›
08, 2020 (GLOBE NEWSWIRE) -- Sunrun (NASDAQ: RUN), a leading provider of residential solar, battery storage and energy services, today announced that it has completed its acquisition of Vivint Solar which was initially announced on July 6, 2020. This follows approval by regulators and stockholders of both companies.
Why is Sunrun so much more expensive? ›
Sunrun's price per watt includes the cost of batteries with some systems, while many other available averages -- including Wood Mackenzie's -- do not. One Tesla Powerwall can add $10,000 ($7,000 after the solar tax credit) to the cost of a system, a significant addition.
Is Sunrun in financial trouble? ›
Based on the latest financial disclosure, Sunrun Inc has a Probability Of Bankruptcy of 47.0%. This is 16.16% higher than that of the Electrical Equipment sector and 9.55% lower than that of the Industrials industry. The probability of bankruptcy for all United States stocks is 18.0% lower than that of the firm.
How do I get out of my Sunrun contract? ›
You can cancel your Sunrun contract by emailing, mailing, faxing or delivering a written notice by midnight of the third business day after you received a signed, dated copy of the contract.
Based on the latest financial disclosure, Sunrun Inc has a Probability Of Bankruptcy of 2.0%. This is much higher than that of the Other sector and significantly higher than that of the Other industry.
What happens if Sunrun goes out of business? ›
When a large solar installation company shuts down or goes out of business, another company in the clean energy space usually comes in and acquires the remaining assets, and takes over solar support for their existing customers.
Why is Sunrun falling? ›
Over the past three years, Sunrun issued $4.2 billion of debt. Adding to concerns for investors in a tricky market cycle is Sunrun's sustained operating losses. Per Gurufocus, the company has never been profitable in the past three years. Even worse, the company's operating margin has been in a five-year decline.
Is Sunrun owned by Elon Musk? ›
No, Sunrun is not owned by Tesla. In fact, Sunrun's ability to offer efficient services in the installation of solar panels and energy storage services has made it one of the major rivals of SolarCity, a firm under Elon Musk's Tesla.
Which is the best solar company? ›
Compare Solar Companies
| Brand | Star Rating | Best For |
|---|
| SunPower | 4.8/5 | Best High-Efficiency System |
| ADT Solar | 4.6/5 | Best Solar Warranty |
| Sunrun | 4.4/5 | Best Solar Panel Leasing |
| Blue Raven | 4.4/5 | Most Reputable |
4 more rowsJul 11, 2023
The median solar panel degradation rate is about 0.5%, which simply means that a solar panel's energy production will decrease at a rate of 0.5% per year. After 20 years, your panels should still be working at about 90% of its original output.
What companies are partnered with Costco? ›
8 Companies Behind Costco's Kirkland Brand Products
- Starbucks. Some Kirkland Signature coffees sold at Costco are, in fact, roasted by Starbucks. ...
- Keurig. ...
- Diamond Pet Foods. ...
- Ocean Spray. ...
- Huggies. ...
- Duracell. ...
- Jelly Belly. ...
- Reynolds Wrap.
A total of two people can be on a Gold Star Membership (either regular or Executive): one Primary Member and one free household member who is over 16 and lives at the same address.
Who is a competitor of Sunrun? ›
Sunrun's competitors and similar companies include SolarEdge, SunPower, EDF Renewables, Vivint Solar and Trinity Solar.
Is Sunrun sponsored by Lululemon? ›
Highly competitive sales commissions paid biweekly for new solar appointments and contracts that result from your efforts. Competitive hourly base pay and commission plus lucrative performance incentives through our Nike/Lululemon sponsored incentive program.
