Sunrun, SunPower Slump After Marketing Expenses Led to Losses
- SunPower, Sunrun post sales that were higher than expected
- California customers face long waits for new installations
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Rooftop solar companies SunPower Corp. and Sunrun Inc. posted higher-than-expected sales in the first-quarter as homeowners in California rushed to snap up panels before a cut in a key state solar subsidy. But the sales rush cost a lot in marketing, and now many customers are facing a months-long wait for new installations.
Both companies had to spend a lot signing up new California customers, which led to booking losses for the quarter.