SunPower And First Solar in Late-stage Discussions On Producing Tandem Technology Solar Modules

During SunPower's Analysis Keynote Day presentation, company executives announced that they are working with First Solar to develop a new residential solar module that combines thin film with traditional silicon materials.

Once a single product company, SunPower has grown to provide a "complete energy product ecosystem" by offering energy storage, electric vehicle charging, smart home solutions, and soon a choice of solar modules . SunPower CEO, Chairman and President Peter Faricy announced a new partnership between the company and First Solar called "tandem technology," which combines First Solar's thin-film semiconductor design with crystalline silicon. The stacked tandem solar modules can be available to customers as soon as 18 months.

This design differs from traditional silicon or thin-film modules, which use two different photovoltaic absorbers to harvest more energy. This will be the most sophisticated commercial solar technology offered to residential customers and will greatly improve the efficiency and aesthetics of solar modules, SunPower said.

SunPower has ambitious plans in the residential market, having recently sold its commercial and industrial solutions (CIS) business to TotalEnergies, SunPower's main owner. In November last year, SunPower hinted that it would exit the commercial sector and move more deeply into the residential market. In February, the company signed a definitive agreement with TotalEnergies, confirming that SunPower would be betting on the residential sector.

"This sale allows SunPower to focus on creating a superior residential PV experience, increase our investment in product and digital innovation, and reach more homeowners," said SunPower CEO Peter Faricy.

During the analyst briefing, Nate Coleman, the company's chief product officer, noted that launching a diverse panel offering will help First Solar reach more residential customers. He said the company plans to get solar power into 100 million (or more) homes and maintain its market leadership with new product launches. "We're looking to take about six quarters to get the same market share in the mainstream market that we currently have at the premium end of the market," Coleman said. Coleman also introduced the new SunVault whole-home backup solution. SunVault energy storage is available in 26 kWh and 52 kWh configurations, allowing the system to provide backup power to every device in a customer's home in the event of a power outage.

By 2026, 100 million homeowners will be saving money with solar power, SunPower CEO Peter Faricy said in his keynote speech. He noted that two factors in favor of this growth are rising utility bills and the positive outlook for clean energy policies. With the policy change yet to take effect, Faricy predicts SunPower won't "see progress" until late Q2 or early Q3 2022.