Is SunPower Next to Collapse?

-- Links --

Solar Surge will teach you all about being energy independent and how to set up your home to run off-the-grid during an emergency. We empower families to take control of their energy generation and storage so that they will never be left in the dark without electricity.

In this video, Joe reports on the impending collapse of SunPower.

-- FOLLOW THE SOLAR SURGE PODCAST --

--JOIN OUR COMMUNITY--

-- CONNECT WITH US --

[FWMonroy-gf]

One point I would like to clarify is that SunPower did not offer a bumper to bumper 40-year warranty on its panels as was mentioned in the video. Maxeon is the company with solar panels featuring a comprehensive 40-year warranty.
Sometimes the distinction between SunPower Corp. and the SunPower solar panels designed and manufactured by Maxeon, and white-labeled by SunPower Corp in the U.S. can be a bit confusing. Those SunPower labeled panels were offered with a 25-year warranty.
SunPower Corp. and Maxeon separated in 2020 when Maxeon spun off as an independent company. And again, even when SunPower was selling Maxeon panels they were offered with the 25-year warranty. Maxeon offers our panels to our network of installers and dealers with the 40-year warranty. Additionally, Maxeon stopped providing SunPower Corp with our Maxeon panels in Q1 of 2024.
Thanks,
Forrest Monroy
Maxeon Solar Technologies

[Realmccoy]

boy do i remember my freedomsolar rep saying "other panel providers might go out of business, but with sunpower you are guaranteed that we are going to be around for ever and the 40 year warranty is exactly what it is". dodged a BULLET

Thanks for covering this Joe. I was literally about to sign a contract with a Sunpower dealer, and saw the market report.

[Bowhuntersgoxzx]

I've said this before, this is probably a sign of the end (or near end) of solar only companies, we don't really have any solar only companies here in my entire state. Most of the companies that do solar installation here also do other home repair work like roofing and siding and windows which helps them keep their employees working and the businesses stay afloat.

[rceldib]

Sunpower was the preeminent US Solar Panel companies. In 2011 Total, the French Oil and Gas monster, bought 60% of SunPower taking control of it.

TotalEnergies, formerly known as Total S.A., now owns 50.83% of SunPower. This majority stake has enabled TotalEnergies to significantly influence SunPower’s strategic direction, particularly in the North American distributed generation and storage market. Tell me they didn’t want them to fail😮

[johns]

Los Angeles Solar consultant here. SunPower is pushing bs leases and PPAs really hard right now. Their reps literally know nothing about solar aside from pitching roi. All their design layouts encroach on the setbacks and rarely deliver anything close to the original design on the estimate. I freaking hate SP. This is literally going to be the rebuttal video I link in my emails. Thank you brother!!!

[jhunte]

My experience with sun power was very good. I’m frustrated to hear they might be going out of business the warranty was the main reason I chose them. I’ve had my system for about 18 months.

[Eajc]

I got quoted a $9k premium for a SunPower system with inferior (iq7 instead of iq8 and lesser panels) and the big selling point was their “stability and longevity”. Glad I dodged that bullet.

[johnkelly]

Love what you do. Thanks! Perhaps an upcoming video could share some advice with those of us who are customers of SunPower or any of the other failed/failing companies. Mostly, I'm wondering what will happen to the app and monitoring capabilities of the system. Additionally, is there anything we can do about all the years of warranty we're losing? Thanks again!

[CyenceFun]

Just had my inverter, for a Sunpower system, fail a year ago after 8 years of good performance. Fortunately for a very very helpful person, NOT in their tech. Service area they were able to get me a replacement inverter installed within 2 months as opposed to the promised 6 months or more. I was SO fortunate. If you ever want to know how good a company is talk with their tech. Service people.

[KT-eish]

I had a company go BK or “exit our market” while under contract. We had given them a deposit and were probably going to lose it. Sunpower came in and completed the contract through another third party. It was a nightmare and in the end we got a lower wattage system than we originally designed.

[GreaterYouConsulting]

Joe- You are spot on!! These contractors are going to have to start building strong relationships with these lending institutions. I think this is the perfect opportunity for entrepreneurs in this space to create maintenance and repair companies for solar and home battery backup and do business directly with these banks that cater to these homeowners. S/b Great content as usual, bro!

[mitchellsmith]

SunPower probably stopped generating new lease agreements and business because they’re planning on a reorganization under bankruptcy. If that’s so, then the warranties aren’t in danger. Yet.

[daimonvilppu]

Thanks for the honest industry information. I've always used a 'set-aside' account in our business to pay for jobs as they are installed. Granted, we are a very small local company and we don't work with finance companies. It will be interesting to see how the finance companies handle this adjustment. I can see many of them getting tough on clients and not providing enough resources to customer service as well as not being willing to pay solar service tech. companies enough to have qualified people doing the

[yeahman]

Should have been clear that the status quo for the industry wasn't as context- and legislation-resistant as it needed to be when it came out that Tesla Solar was having trouble staying profitable itself. Their restructuring should've been a red flag to the industry that it was about time to pivot and make changes if they wanted to stay afloat.

[mdcplace]

Don’t think finance companies are going to do O&M on systems. They are built to let the payments default and wait for the homeowner to try to sell or remortgage with the UCC1 lien on the system the home . At that point they collect all payments plus interest $$$. They should however vet installers better and force them to use SolarInsure on sales. Just like a PMI on a mortgage.

[Phil-G]

Thanks, can you also do a video on Maxeon?? i'm still invested in them and would like your opinion on what there future looks like.

[chrisone]

I can’t comprehend how Surun enterprise valuation is still $14.6 billion. A huge short in my opinion.

[d_k_C_A]

I would be happy. I started this endeavor in February and i am yet to have the panels operational. I am beyond frustrated. Their service is absolute crap

[Yldmanu]

The financing company are not contractors period. You will make payments for non functional systems..and they have the power to put leans on your home...good luck with that.