Sunrun CEO Powell sees need for more rooftop solar

NEW YORK (AP) — As the head of the nation's largest rooftop solar installer, Mary Powell has a stake in the recently passed Inflation Reduction Act, which includes tax credits to make rooftop solar more affordable.

But the CEO of Sunrun's excitement about the bill's passage goes beyond business. Powell was passionate about climate change long before it was a topic at cocktail parties. Now that President Joe Biden has signed the legislation into law, Powell believes the residential solar industry's growth will accelerate, inching the nation closer to reaching its climate goals.

The Associated Press spoke with Powell about the impacts of the Inflation Reduction Act. Answers have been edited for length.

Q: How much will the Inflation Reduction Act boost the solar industry's growth?

A: We are seeing 33% year-over-year growth and incredible customer demand. At the same time, we’re still collectively as an industry in only 4% of the 77 million addressable homes.

I think mainstream America is really becoming very aware of the value of solar plus storage plus electric vehicles. So this legislation, it just makes my heart sing, because it means so many more customers who would benefit from having a more affordable, resilient, comfortable future will now be able to do that.

We have to go from 4% of the addressable market to a much higher number to hit the kinds of emissions goals that are in this act.

Q: Does the legislation make it easier for lower-income Americans to access solar energy?

A: Our average customer right now has an average household income of $50,000 to $100,000. So with the additional support in the bill for lower-income, working class families, we really expect that to continue to be the segment that grows by orders of magnitude. So we’re really thrilled about...