Rapid Response: Aggressive sustainability, w/Lynn Jurich, CEO of Sunrun

Pandemic Response

Sunrun's response to the COVID-19 pandemic involved rapid adaptation and digital transformation. Lynn Jurich explains that the pandemic initially caused hesitation and business disruptions, but ultimately accelerated the adoption of solar energy as people spent more time at home and sought energy independence 1. The company also implemented new tools like a Slack-like system called Threads to improve documentation and communication, which helped bridge cultural gaps between merged companies 1.

Within a week we moved a huge sales force to completely digital and remote. Frankly, saw productivity increase by one and a half times.

--- Lynn Jurich

This shift to digital not only increased productivity but also ensured the safety of their distributed workforce 1.

   

Financial Crisis

During the 2008 financial crisis, Sunrun faced significant challenges but managed to secure crucial funding. Lynn Jurich recounts how they raised $12 million and navigated the complexities of securing a $40 million investment from US Bank just as Lehman Brothers went bankrupt 2. This period tested their resilience and strategic thinking, emphasizing the importance of long-term vision and adaptability.

We closed a $40 million funding from US Bank the day Lehman Brothers went bankrupt. We've been through a lot.

--- Lynn Jurich

Jurich also highlights the value of presence and awareness, drawing parallels between bird watching and business leadership 2.

   

Acquiring Competitors

Sunrun's strategic acquisition of Vivint Solar during the pandemic exemplifies their commitment to growth and industry leadership. Lynn Jurich describes how the acquisition, valued at $3 billion, was part of a long-term strategy to consolidate market share and expand into new areas like residential solar plus batteries and electric vehicles 3. This move was facilitated by their accelerated digital transformation and increased corporate metabolism.

We also acquired a company during COVID, a $3 billion 4000 person company. We did this all remotely.

--- Lynn Jurich

The acquisition aligns with the industry's shift towards more complex energy systems and virtual power plants, positioning Sunrun for future success 3.