Sunrun agrees marketing tie-up with Comcast

US residential solar and energy storage firm Sunrun (NASDAQ:RUN) has signed a deal with Comcast Corp (NASDAQ:CMCSA), under which the cable giant will market Sunrun's rooftop solar services to its customers.

In addition to fees for new customers brought to Sunrun, Comcast could earn a warrant of up to 9.99% of Sunrun's stock. The warrant is earned pro rata if 30,000 customers under the deal are installed by Sunrun and is fully earned if installations reach 60,000.

Comcast is to start marketing Sunrun's products under the 40-month agreement in selected states later this year, according to an announcement on Thursday. The deal follows a one-year pilot where participating Comcast customers chose Sunrun's BrightSave offering.

"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," said Jon Kaplowitz, managing director and GM of new businesses, Comcast Cable.

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