Aims to strengthen solar adoption and provoke renewable energy economic climate with investments in area photo voltaic firms
Entered agreements with Liberty Solar Electrical power and Sea Vivid Solar
SAN JOSE, Calif., March 31, 2022 /PRNewswire/ — SunPower (NASDAQ:SPWR), a primary residential photo voltaic technologies and strength providers company, right now declared it released the SunPower Dealer Accelerator System. Through the system, SunPower is building investments in community photo voltaic sellers to advance their development, and in change, aiding to velocity the adoption of renewable electricity throughout the U.S.
With the start of the method, SunPower is earning minority investments in Liberty Solar Electricity and Sea Shiny Photo voltaic, two SunPower Grasp Dealers. As section of the deal, Flexibility Solar and Sea Bright — who are previously exclusively advertising SunPower® photo voltaic methods — will market SunVault™ battery storage and leverage SunPower Financial™ offerings for photo voltaic financing. In addition to capital, SunPower will present the dealers with enhanced guide technology and enterprise technique support.
“There is an urgent want to deliver extra sustainable and resilient power, which will only occur if we scale solar to reach each individual corner of the U.S.,” mentioned Peter Faricy, CEO at SunPower. “Our sellers are on the front lines of the clear electricity transition. With SunPower’s Vendor Accelerator system we produce avenues for these enterprises to grow their individual businesses and enable extra shoppers make the transfer to renewable power by carrying out what they do greatest.”
Texas-dependent Liberty Photo voltaic Electric power is the leading residential installer in the condition as perfectly as the Entrance Assortment of Colorado and central Florida, giving photo voltaic energy to 1000’s of property owners. Flexibility Photo voltaic teamed up with SunPower in 2014 and grew to become the 1st and only SunPower Learn Vendor in Texas. The corporation was named Residential Nationwide Seller of the 12 months in 2017, Regional Prime Producer of the Yr in 2018, and Countrywide Top rated Producer of the 12 months in 2019 and 2020. In 2021, Liberty Solar booked over $175 million of household contracts, growing by 80% in Texas to outpace the marketplace and get back current market share leadership.
Sea Vivid Solar offers solar methods to owners in New Jersey, New York and Southern California, enabling them to save dollars on electrical energy and cut down dependence on fossil fuels. The organization was named Household Countrywide Seller of the Year in 2019 for their results in supplying higher-top quality, total photo voltaic solutions alongside top-quality customer support to house owners demonstrating fantastic industry understanding and leadership.
The photo voltaic industry is at a strategic inflection level. Residential photo voltaic installers surpassed 50 % a million installations in 2021, a very first for the field, and the household solar industry is expected to improve by 113% around the subsequent 10 yrs, according to Solar Vitality Industries Association (SEIA) and Wood Mackenzie. But, with less than 5% of U.S. residences at present powered by photo voltaic, this robust marketplace-degree momentum along with the remarkable shift to a digital-1st small business setting highlights the have to have for solar firms to double down on software package and consumer company to meet up with demand from customers and capture market share.
SunPower is on a route to immediately increase the photo voltaic market place to provide more consumers in large-development marketplaces like Texas, where by battery storage attachments grew by 350% in 2021, according to a report by SEIA and Wood Mackenzie, and New Jersey, which has much more solar put in for every square mile than any other condition in The usa. In addition, SunPower expects that the Seller Accelerator method will assistance develop its penetration of solutions like SunVault storage and a thorough suite of economic goods that deliver property owners accessibility to bigger credit boundaries, reduce fascination rates and a faster software approach as a result of SunPower Fiscal.
“Adhering to the Texas winter season storm, 2021 was a report-breaking 12 months for Liberty Solar with additional house owners looking for responsible, clean options,” mentioned Freedom Solar Electrical power CEO Bret Biggart. “By setting up a nearer partnership with SunPower, we are properly-positioned to double our development in 2022 by means of a mixture of natural advancement in existing markets and accelerated new-marketplace expansions. It truly is a lot more than the more monetary resources but the mental horsepower and intensive network we build collectively.”
“Surging buyer curiosity and powerful incentives are earning New Jersey a chief in photo voltaic improvement,” mentioned Sea Vibrant Photo voltaic President Brian Kelly. “We are psyched for this future chapter of progress and development with the SunPower crew to consider benefit of some of the industry’s most significant opportunities with photo voltaic and storage to deliver on the promise of photo voltaic in the northeast.”
For U.S. sellers fascinated in signing up for SunPower’s Seller Accelerator Program, make sure you get hold of [email protected]
Headquartered in California’s Silicon Valley, SunPower (NASDAQ:SPWR) is a top Dispersed Era Storage and Energy Services service provider in North America. SunPower delivers the only photo voltaic + storage alternative intended and warranted by one particular company that offers customers command about electricity usage and resiliency during electrical power outages when delivering price tag cost savings to house owners. For much more information, stop by www.sunpower.com.
About Independence Solar
Started in 2007, Flexibility Solar is an marketplace leader in turnkey photo voltaic installations, providing high-high quality, charge-helpful, reliable photo voltaic methods for household and business marketplaces nationwide. Headquartered in Austin, Texas, Liberty Photo voltaic also has operations in Colorado, Florida, and Virginia. The company has put in more than 128.8 megawatts of photo voltaic panels considering that 2007, position as the tenth-largest photo voltaic installer in the U.S. Independence Photo voltaic has completed initiatives for a lot of nationwide and multinational company clients, such as Entire Food items Current market, Shake Shack, Workplace Depot, The College of Texas at Austin, and numerous automotive dealerships, these types of as Alfa Romeo, BMW, Chevrolet, Ford, Maserati, Subaru and Toyota. For a lot more info, go to https://www.freedomsolarpower.com or comply with @freedomsolarpwr on Twitter and @flexibility_solar_power on Instagram.
About Sea Shiny Photo voltaic
Sea Dazzling Solar works by using the energy of the solar to enable shoppers from coast-to-coast conserve income – and the planet! Given that 2003, Sea Vivid Solar has aided 1000’s of house owners and companies generate their have renewable energy and reduce or remove their reliance on the grid. Serving New Jersey, New York, and Southern California we offer custom-made, turnkey solar remedies. Our crew is made up of skilled residential and industrial solar consultants, designers, engineers, and set up groups. Sea Shiny gives extensive sector information of the most up-to-date technological innovation and ideal methods as very well as solar financing and incentives. By our ground breaking solar program installations, we have served both equally property owners and corporations profit by slicing energy expenses up to 100%.
This press launch includes “ahead-wanting statements” in just the this means of the Private Securities Litigation Reform Act of 1995, like, but not restricted to, statements concerning our programs and anticipations for the Vendor Accelerator Plan, such as the anticipated outcomes of the system, its affect on dealers and their progress, our programs for precise investments and support relevant to the plan, and our expectations for the enlargement of solar availability and the final results thereof. These ahead-hunting statements are primarily based on our existing assumptions, expectations, and beliefs and include significant pitfalls and uncertainties that may perhaps cause success to materially vary from individuals expressed or implied by these forward-hunting statements. Things that could result in or add to such distinctions incorporate, but are not minimal to: regulatory adjustments and the availability of economic incentives endorsing use of photo voltaic vitality threats connected to the introduction of new or enhanced products adjustments in general public plan, which includes the imposition and applicability of tariffs and difficulties controlling our acquisitions, joint ventures, and partnerships, which includes our potential to correctly control these supplier relationships and investments.
A in depth discussion of these aspects and other threats that have an impact on our organization is bundled in filings we make with the Securities and Exchange Commission (SEC) from time to time, together with our most new reviews on Form 10-K, especially under the heading “Threat Aspects.” Copies of these filings are out there on the web from the SEC or on the SEC Filings area of our Trader Relations website at investors.sunpowercorp.com. All ahead-hunting statements in this press launch are centered on information and facts now offered to us, and we believe no obligation to update these forward-looking statements in mild of new details or potential occasions.
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