SunPower makes minority investments in two solar dealers

Residential solar system by SunPower. Image by SunPower Corp.

September 15 (Renewables Now) - US solar provider SunPower (NASDAQ:SPWR) on Thursday said it has made minority investments in two solar dealers as part of its Dealer Accelerator Programme.

The two companies are Renova Energy, active in California and Arizona, which employs more than 300 people and last year installed 11.5 MW of solar, and EmPower Solar, serving Long Island and the greater New York area, which in 2021 installed 7.79 MW of distributed solar.

SunPower launched its Dealer Accelerator Programme in March to assist promising solar dealers with capital financing and business strategy support. The dealers in the programme exclusively sell SunPower solar systems and also offer the company’s SunVaul battery storage and its financing products. SunPower has also invested in Freedom Solar Power and Sea Bright Solar as part of the programme.

"With an increasing need for more affordable and resilient energy coupled with new federal incentives to adopt clean energy, consumer demand for solar is at an all-time high. Through these investments, SunPower is enabling local dealers to capture this strong demand and grow their business," said SunPower chief executive Peter Faricy.

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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