SunPower Corporation Overview
Headquarters: California, US
Founded: 1985
Workforce: Approximately 7,306
Company Working: SunPower Corporation is engaged in the business of crystalline silicon solar photovoltaic cells and solar panels. SunPower Corporation is also involved in research and development, and supply of solar power solutions, globally. The company operates in three main segments, namely residential, commercial, and power plants. For over three decades, SunPower Corporation solar panels generated around 18,000,000-megawatt hour (MWh) of solar power, globally and holds more than 750 patents for solar technology.
SunPower Corporation offers commercial rooftop and ground-mounted solar power systems, residential mounting systems, and power plant systems, as well as utility-scale photovoltaic power plants. In addition to that, the company offers operations and maintenance services and outage restoration services. The company has prevalence in countries such as the US, Japan, and the UK and in Philippines.
In 2011, SunPower Corporation became a subsidiary of global oil and gas giant, Total Energies Nouvelles Activités, USA, which bought the majority stake in the company to become a major player in the solar power industry. Also, SunPower has subsidiaries such as SunPower Malaysia Manufacturing Sdn. Bhd, SunPower Philippines Manufacturing Limited, and SunPower Technology Ltd. It competes with companies such as Trina Solar, Canadian Solar Inc., JA Solar Holdings, Yingli Solar, and Abengoa Solar.
Strategy
SunPower Corporation focuses on reducing the cost of solar panels with advancements in technology for gaining a competitive edge. For instance, the company has 507 existing patents in the United States and 310 U.S. patent applications pending for approval. For expanding its geographic presence, the company also has 545 patents and 896 patent applications pending in foreign countries and their jurisdictions. The company is focusing on using P-Series power plant installations in non-Organization for Economic Co-operation and Development (OECD) countries, which remain a critical component of its growth strategy. This will help its markets in countries where the costs are typically higher than the developed solar markets.
SunPower Corporation also focuses on research and development activities to enable new solutions for operations. For instance, they launched the next generation SunPower Oasis for solar power plants, which use drones and robots to optimize energy production. Also, the company formed strategic partnerships with global automotive giants Audi and Ford, for promoting solar energy for vehicle charging.
