Sunrun Inc (NASDAQ:RUN) continues the grand tradition of consultant-advised responses that largely avoid substance, yet span several pages. We herein focus the discussion on what was unsaid, and the little that was said. Earning AssetsPerhaps Sunrun started this explanation on page 5 because it hoped to lose readers with technicalities about the tax code. In any event, RUN fails to convince us that there is anything remotely conservative – let alone realistic – about assuming that 90% of customers renew at the end of their PPA terms their leases on 20-year old technology that RUN itself admits…