Werner said, “The time is right for a new leader to take the reins and set the course for SunPower.”
It took a pandemic, but the residential solar and storage industry has finally figured out how to lower customer acquisition costs. SunPower is seeing residential storage attach rates greater than 20% in California.
It’s solar earnings season and there’s a clear, non-surprising theme: The first quarter was strong and largely unimpacted by the pandemic, but the second quarter and 2020 as a whole is uncertain.
The solar efficiency leader remains on track to complete its planned split into two independently focused pure-play solar companies by the end of the second quarter.
A rare profitable quarter has anchored an even rarer profitable year for SunPower, as confidence in the decision to split off the company’s module manufacturing business into Maxeon Solar Technologies rises.
In part 2 of our interview, the SunPower brain trust talks about scaling-up its high-efficiency PV technology in a way that it has not been able to do in the past — now that it has cash and a definitive focus.
“It’s what we’ve talked about for many years — it makes sense to produce energy where you use it. And it makes sense that it would be intelligent and easily optimized. The new SunPower will focus exclusively on accomplishing that.”
The high efficiency solar maker pulled off a rare profit during the second quarter due to selling off leases, but expects to report another loss during Q3.
The high-efficiency PV maker has made rapid gains in the residential sector and maintained leadership in the nation’s C&I solar market. And while it is also rolling out new technology, SunPower remains plagued by losses.
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