SunPower Led U.S. Solar Industry in 2018 for Second Consecutive Year as the No. 1 Commercial Solar Provider and a Top Residential Solar Panel Supplier
As Renewable Electricity Generated by Photovoltaic Solar Projects in America Doubles from 2016 to 2018, SunPower Positions Itself for Future Growth During Capital Markets Day
While solar adoption in the U.S. ticks upward according to the U.S. Energy Information Administration, SunPower (NASDAQ: SPWR) continues to capture a large share of the distributed generation solar market. In Wood Mackenzie's latest U.S. PV Leaderboard report made available this month, SunPower remained the No. 1 provider of commercial solar solutions for a second year running. And as an essential partner to its nationwide residential dealer network, the company also maintained a leadership position as one of the top residential solar panel manufacturers for the second consecutive year.
"As a leading solar technology and energy services provider in a market that we expect will continue to grow, we pride ourselves on helping SunPower's residential and commercial customers meet their energy needs with the industry's most efficient solar panels available today," said Tom Werner, SunPower CEO and chairman of the board. "Our 34 years of experience, innovative technology, and complete solar and storage solutions have helped SunPower become a longstanding leader in solar."
Commercial Solar Business
An innovator in the space, SunPower is focused on being the top distributed energy company in North America. SunPower focuses on integrating its high performance solar systems with storage and intelligent software to deliver maximum value to customers, including demand charge savings, monitoring, data analytics and optimization, energy management and over time wholesale grid services.
As a result, SunPower has a commercial solar installed base of 1.6 gigawatts across its unique go-to-market platform of direct and indirect channels, with a number of Fortune 500 customers. Eight of the top 10 corporate solar buyers in America identified by the Solar Energy Industries Association are SunPower customers - including Ikea, Macy's, and Target - contributing to SunPower's position as the market share leader. To date, the company has installed 9 megawatt hours of storage at over 20 customer sites.
Residential Solar Business
Last year, SunPower's U.S. residential business saw annual deployment growth of more than 15 percent bringing the total number of American homes with SunPower® solar to over 236,000. The company has recognized an increased demand for its Equinox™ platform - the only fully integrated residential solution designed, engineered and warranted by one manufacturer; expanded its leadership position in the new homes channel, partnering with 18 of the top 20 California new-home builders; and earlier this month, once again raised the bar by launching the most powerful residential solar panel in the world. Called A-Series - and built using the company's Next Generation Technology - the panel delivers up to 415 watts for U.S. homeowners.
"This year, SunPower is focused on maintaining our leadership positions by continuing to invest in our Next Generation Technology, solar-plus-storage solutions, digital platforms, and energy services offerings, which we believe offer the best opportunities for growth in the U.S. solar market," Werner concluded.
SunPower will further discuss its strategic outlook at its Capital Markets Day to be held on March 27, 2019 in New York City starting at 9:00 a.m. Eastern Time. The event will be webcast and relevant materials will be posted to the company's website prior to the event. To register for and listen to the webcast, visit the company's Events and Presentations section of the SunPower Investor Relations page at http://investors.sunpower.com/events.cfm prior to the start time.
As one of the world's most innovative and sustainable energy companies, SunPower (NASDAQ: SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.