Sunrun expected to grow its installations by 15 percent in 2020, from a base of 413 megawatts installed in 2019. But this plan is quickly changing as the global coronavirus pandemic hits solar businesses.
Sunrun has now laid off at least 100 workers and confirmed that it has cut $30 million of quarterly expenses relative to Q1 levels.
The company’s now revised forecast for 2020 shows—two quarters in which volumes will fall to half of what they had been a year prior. Even then, Sunrun expects to burn $30 million per quarter, cutting deep into its cash reserves.