Complete Solaria Inc. Stock Price, News & Analysis

SunPower Corp (NASDAQ:SPWR) announced the appointment of Vinayak Hegde and Vincent Stoquart to its Board of Directors on January 25, 2022. These strategic appointments aim to enhance SunPower's leadership in the residential solar market. Hegde brings extensive experience from major tech brands, focusing on customer acquisition, while Stoquart offers over 23 years of experience in the energy sector, specifically from TotalEnergies. CEO Peter Faricy emphasized the need for diverse leadership to drive growth and improve the consumer experience in clean energy.

SunPower Corp (NASDAQ:SPWR) appointed June Sauvaget as the new Chief Marketing Officer to enhance its marketing strategies amid the growing solar adoption, projected to rise over 25% annually. With over 20 years of experience, including significant roles at Spotify, Sauvaget aims to make solar more accessible to diverse consumers. Furthermore, SunPower announced plans to sell its Commercial & Industrial Solutions (CIS) business, focusing on optimizing capital and enhancing its Residential and Light Commercial sectors. The sale discussions are advanced, targeting completion by Q1 2022.

On December 14, 2021, the California Public Utilities Commission proposed changes to the Net Energy Metering (NEM) policy, potentially hindering consumer access to solar energy. This proposed decision could impose higher fees for solar customers, risking California's leadership in clean energy and affecting over 1.3 million homes with solar. SunPower Corp (NASDAQ:SPWR) advocates for maintaining equitable access to clean energy resources, emphasizing the importance of reliable power for all Californians during challenging times. The company expresses hope that the final decision will support California's clean energy transition.

SunPower Corp (NASDAQ:SPWR) has launched SunPower Financial™, a new financial services institution aimed at making renewable energy more accessible for U.S. homeowners. This initiative includes expanded financial products with zero down payment options, up to $150,000 in credit limits, and a simplified application process for customers with credit scores of 600+. The program supports shared roofs and mobile homes, alongside a 0% APR offering for up to 25 years. This aligns with SunPower's 25x25 commitment to increase access for underserved communities by 25% by 2025.

SunPower Corp. (NASDAQ:SPWR) announced its new Virtual Power Plant (VPP) solution on November 16, 2021. This initiative allows SunVault™ energy storage customers to earn compensation by providing stored energy to utilities during peak demand periods, enhancing grid stability. The program is available to qualifying customers in Massachusetts, Rhode Island, and Connecticut via Eversource and National Grid. Participants can earn hundreds of dollars annually and maintain energy independence. SunVault storage is now available nationwide, designed for resilience and cost savings during outages.

SunPower Corp. (NASDAQ:SPWR) reported strong third-quarter results for 2021, with GAAP revenue of $323.6 million, up 18% year-over-year. The company added 14,200 new customers, a 29% increase, and achieved a gross margin of 18.4%. However, it faced a net loss of $84.4 million, primarily due to a non-cash mark-to-market adjustment on Enphase shares. SunPower anticipates fourth-quarter revenue between $330 million and $380 million and remains focused on expanding its residential solar market and storage solutions amid favorable clean energy incentives.

SunPower Corp. (NASDAQ:SPWR) announced a partnership with The New Home Company to include solar systems, battery storage, and EV chargers in every home at Eureka Grove, Granite Bay, California. Each of the 72 homes will feature a SunPower Equinox® solar system, a 13 kWh SunVault™ battery, and a Wallbox Pulsar Plus EV charger. This integration aims to enhance energy independence, enabling homeowners to manage energy use and save costs effectively. The project symbolizes a shift toward modern sustainable living and is expected to set a trend in new home communities across the nation.

SunPower Corp. (NASDAQ:SPWR) will hold a conference call on November 3, 2021, at 1:30 p.m. PST to discuss its third-quarter 2021 financial results. Interested parties can join by calling (877) 371-5747 with conference ID 7999541, or access the webcast via SunPower's website at investors.sunpower.com/events.cfm. The earnings press release and additional financial information will be available earlier that day at 1:05 p.m. PST.

On October 5, 2021, SunPower Corp. (SPWR) announced its acquisition of Blue Raven Solar for up to $165 million. This strategic move aims to enhance SunPower's presence in underserved markets, particularly in the Northwest and Mid-Atlantic regions. Blue Raven Solar, established in 2014, has achieved a remarkable 93% CAGR in revenue, primarily through a direct-to-consumer sales model. The acquisition is expected to strengthen SunPower's residential offerings and improve financial product availability, supporting its focus on growth in the Residential and Light Commercial sectors.