Days after the nationwide eclipse, it appears that Comcast looked at the sun — at least figuratively.
The cable, broadband and phone provider — and owner of NBCUniversal — today announced a 40-month deal with Sunrun, making it Comcast Cable’s “exclusive solar energy provider.”
Comcast will begin to market Sunrun’s panels in what it calls “selected markets” later this year. In return, it will receive a cut from the consumer payments from new customers. Comcast has to spend at least $10 million on marketing and sales.
The cable operator will pick up as much as 9.99% of Sunrun’s stock if the effort attracts 60,000 or more customers. (It’s pro-rated; Comcast will get about 5% if it wins more than 30,000, and more stock as it approaches 60,000.)
Thus far this year the companies say that Sunrun “nearly doubled its addressable market.” It’s available in 22 states and the District of Columbia.
“We believe the residential solar industry will continue to expand over the next decade as consumers look for more cost-efficient, independent and cleaner alternatives for their energy,” says Comcast Cable GM of New Businesses Jon Kaplowitz. “By working with Sunrun, Comcast can help customers take more control of the price they pay for energy, save them money and help contribute to cleaner communities.”
The initiative jibes with Comcast’s Xfinity Home service, which uses the cable infrastructure for home security and remote management of lights and utilities.
“Our challenge is making homeowners aware that they can save money with solar today.” Sunrun CEO Lynn Jurich says. “We are excited to work with Comcast to help their customers go solar and save on their electric bills while reducing their dependence on fossil fuels.”