{"id":85868,"date":"2024-08-08T09:39:51","date_gmt":"2024-08-08T00:09:51","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=85868"},"modified":"2024-09-16T17:05:31","modified_gmt":"2024-09-16T07:35:31","slug":"sunpower-bankruptcy-australia-mb2981","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/sunpower-bankruptcy-australia-mb2981\/","title":{"rendered":"US SunPower Files For Bankruptcy: What It Means For Australia"},"content":{"rendered":"

\"SunPower<\/p>\n

SunPower Corporation in the USA has filed for bankruptcy protection – but Australian owners of SunPower branded solar panels shouldn’t panic.<\/p>\n

Earlier this week, SunPower Corp announced<\/a> the company and some of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code1<\/a><\/sup>. The firm also announced it had entered into a purchase agreement with Complete Solaria Inc. for the assets associated with its Blue Raven Solar business, New Homes business, and non-installing Dealer network.<\/p>\n

In a note to the SunPower team, Executive Chairman Tom Werner said<\/a>:<\/p>\n

“We know you may have questions about what this announcement means for our valued customers and partners. While we may not have all of the answers at this time, we intend to keep you updated as necessary as we navigate this process.”<\/p>\n

This development follows an announcement in April<\/a> this year that the company was winding down SunPower Residential Installation (SPRI) locations and ditching direct sales in the USA. That announcement was accompanied by news of major job losses at the firm; estimated at the time to affect 1,000 staff.<\/p>\n

A Very Brief History Of SunPower – And Maxeon<\/h2>\n

Headquartered in California, SunPower was founded in 1985 by Richard Swanson, an electrical engineering professor from Stanford University. “Swanson’s Law” is named after him, which observes that the price of solar panels tends to drop 20 percent for every doubling of cumulative shipped volume.<\/p>\n

Throughout the 1990’s, the company’s solar technology was used to power innovative applications, such as solar race cars and novel aircraft; including NASA’s Pathfinder.<\/p>\n

Mr. Werner was recruited in 2003, and in 2004, the firm’s first manufacturing facility started production. The company was listed on the NASDAQ in 2005, and another manufacturing facility came online in 2007. During the decade, SunPower also set various records for solar cell efficiency.<\/p>\n

In 2011, French oil company TotalEnergies acquired a majority stake in the firm, and in 2014 SunPower cranked out its billionth solar cell. The rest of the decade was marked by other accomplishments and milestones.<\/p>\n

In 2020, the solar PV manufacturing aspect of SunPower was separated from the US installation side and a new company was born – Maxeon Solar Technologies. Maxeon began producing SunPower branded solar panels, although the Performance series was still manufactured by SunPower in the USA for that market only for several more years<\/a>.<\/p>\n

Throughout its PV manufacturing period, SunPower maintained a focus on innovation and premium quality modules – with a price tag to match.<\/p>\n

What’s The Impact In Australia?<\/h2>\n

A notice on the Australian Maxeon web site<\/a> states:<\/p>\n

“SunPower products are manufactured by Maxeon Solar Technologies and sold by its subsidiary SunPower Corporation Australia Pty Ltd., independent from the US-based SunPower Corporation.”<\/p><\/blockquote>\n

Maxeon is responsible for the warranties of any existing SunPower panels installed here in Australia. So, here’s hoping Maxeon (which has also been experiencing challenges<\/a>) will endure. They’ll need to for a very long time as some warranties are 40 years<\/a>.<\/p>\n

SQ No Longer Recommending SunPower\/Maxeon Panels<\/h2>\n

—-
\nUPDATE 16 September 2024<\/strong>: Maxeon have recently confirmed a $US100M cash injection. This improves their financial position considerably and gives us the confidence to add them back to our recommended brands.
\n—-<\/p>\n

SunPower<\/a> branded panels have long been listed on SolarQuotes’ recommended solar panels chart<\/a>. Sadly, they have now been removed. While separate companies, the average residential solar buyer doesn’t know or care about the distinctions and the writing is on the wall for expensive modules given other lower-cost good quality solar panels<\/a> available these days2<\/a><\/sup>.<\/p>\n

SolarQuotes operates under the “grandmother rule”:<\/p>\n

\u201cThe rule is \u2013 if I wouldn\u2019t recommend a solar installer to my grandmother, I won\u2019t recommend them through SolarQuotes,\u201d says SQ founder Finn Peacock.<\/p><\/blockquote>\n

The same applies to solar components – and in this case, for the reasons stated above.<\/p>\n","protected":false},"excerpt":{"rendered":"

SunPower Corporation in the USA has filed for bankruptcy protection – but Australian owners of SunPower branded solar panels shouldn’t panic.<\/p>\n","protected":false},"author":17,"featured_media":85869,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-85868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nUS SunPower Files For Bankruptcy: What It Means For Australia<\/title>\n<meta name=\"description\" content=\"SunPower Corporation in the USA has filed for bankruptcy protection - but Australian owners of SunPower branded solar panels shouldn't panic.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/sunpower-bankruptcy-australia-mb2981\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US SunPower Files For Bankruptcy: What It Means For Australia\" \/>\n<meta property=\"og:description\" content=\"SunPower Corporation in the USA has filed for bankruptcy protection - 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The purchase price was not disclosed and the deal is subject to regulatory approvals and other closing conditions. \"The time is right for SunPower to invest in U.S. manufacturing, and SolarWorld Americas provides a great platform for us\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"SunPower SolarWorld Americas acquisition","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/sunpower-solarworld-acquisition.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/sunpower-solarworld-acquisition.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/sunpower-solarworld-acquisition.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/sunpower-solarworld-acquisition.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":88243,"url":"https:\/\/www.solarquotes.com.au\/blog\/maxeon-solar-restructuring-mb3061\/","url_meta":{"origin":85868,"position":1},"title":"The Maxeon Solar Saga Continues With Strategy Shift","author":"Michael Bloch","date":"November 28, 2024","format":false,"excerpt":"Premium PV panel manufacturer Maxeon Solar Technologies has had quite a year - and like the year, the Maxeon saga ain't over just yet. Yesterday the company announced a major strategic restructuring of its business portfolio and market focus; intending to focus exclusively on the U.S. market. The company has\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Maxeon Solar Technologies","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/maxeon-solar-restructuring.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/maxeon-solar-restructuring.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/maxeon-solar-restructuring.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/maxeon-solar-restructuring.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/maxeon-solar-restructuring.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":34909,"url":"https:\/\/www.solarquotes.com.au\/blog\/sunpower-maxeon-split-mb1290\/","url_meta":{"origin":85868,"position":2},"title":"Big Changes At SunPower","author":"Michael Bloch","date":"November 13, 2019","format":false,"excerpt":"SunPower has announced it will spin off much of its solar panel manufacturing into a new company - Maxeon Solar Technologies. After the split, SunPower will primarily focus on product innovation, solar system installations, plus high-growth storage and energy services. SunPower's Q3 2019 results noted record residential and new homes\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"SunPower - Maxeon Solar Technologies","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/11\/sunpower-maxeon.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/11\/sunpower-maxeon.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/11\/sunpower-maxeon.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/11\/sunpower-maxeon.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/11\/sunpower-maxeon.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":61867,"url":"https:\/\/www.solarquotes.com.au\/blog\/maxeon-alphaess-sunpower-mb2474\/","url_meta":{"origin":85868,"position":3},"title":"Maxeon Hooks Up With AlphaESS For SunPower One","author":"Michael Bloch","date":"May 16, 2022","format":false,"excerpt":"High-end solar panel manufacturer Maxeon has made an interesting choice of energy storage and EV charging solutions partner - AlphaESS. On May 5, Maxeon \"unveiled\" the SunPower One integrated home energy solution, stating: \".. the Maxeon's SunPower One solution goes beyond simple monitoring to proactively advise homeowners on ways to\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Maxeon and AlphaESS - SunPower One","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/05\/alpha-ess-maxeon-sunpower.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/05\/alpha-ess-maxeon-sunpower.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/05\/alpha-ess-maxeon-sunpower.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/05\/alpha-ess-maxeon-sunpower.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/05\/alpha-ess-maxeon-sunpower.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":28554,"url":"https:\/\/www.solarquotes.com.au\/blog\/sunpower-maxeon-3-australia-mb0968\/","url_meta":{"origin":85868,"position":4},"title":"SunPower Announces 400W Solar Panel Availability In Australia","author":"Michael Bloch","date":"March 11, 2019","format":false,"excerpt":"The first 400 watt solar panel for the Australian residential market is now available from SunPower - the Maxeon 3. Featuring SunPower's Maxeon cells, the SPR-MAX3-400 has a conversion efficiency of 22.6%, which is assumed to be under standard test conditions (ambient air temperature of 25C, solar irradiance of 1000\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"SunPower 400 watt solar panel","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/03\/sunpower-400w-panel.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/03\/sunpower-400w-panel.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/03\/sunpower-400w-panel.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/03\/sunpower-400w-panel.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/03\/sunpower-400w-panel.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":13472,"url":"https:\/\/www.solarquotes.com.au\/blog\/sunpower-jinko-solar-deals-mb0140\/","url_meta":{"origin":85868,"position":5},"title":"Jinko Solar And SunPower Announce Panel Supply Deals","author":"Michael Bloch","date":"July 26, 2017","format":false,"excerpt":"Module manufacturers Jinko Solar and SunPower are continuing to power ahead, with both companies announcing major panel supply deals. First to SunPower, which has announced it will be supplying 29.9 megawatts of its E-Series panels for rooftop and ground-mount solar projects being developed in France by Tenergie. The SunPower solar\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Jinko Solar and SunPower","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/07\/sunpower-jinko-solar-panels.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/07\/sunpower-jinko-solar-panels.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/07\/sunpower-jinko-solar-panels.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/07\/sunpower-jinko-solar-panels.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/85868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=85868"}],"version-history":[{"count":15,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/85868\/revisions"}],"predecessor-version":[{"id":86772,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/85868\/revisions\/86772"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/85869"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=85868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=85868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=85868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}