RUN
Another day, another Sunrun securitization
Sunrun just got a fresh nod from KBRA on its Prometheus Issuer 2026-1 deal, which bundles thousands of residential solar leases and power purchase agreements into notes that can be sold to investors. In plain English: it’s taking future customer payments and turning them into cash today. Very Wall Street, very 2026.
Why this matters
The collateral pool here is huge: 38,706 leases and PPAs, with an Aggregate Discounted Solar Asset Balance of about $844.4 million. That’s not pocket change—it’s the kind of financing plumbing that helps Sunrun keep installations moving without waiting around for every monthly bill to come in.
The investor takeaway
For shareholders, this is mostly about liquidity and capital access. If Sunrun can keep packaging assets and getting favorable ratings, it can support growth and keep the financing engine humming. But the flip side is the company is still very dependent on structured finance markets, so anything that makes investors skittish can make the whole treadmill wobble.
Big picture: Sunrun’s business isn’t just solar panels on roofs; it’s also a giant cash-flow machine that needs a lot of financial grease to keep spinning.