星期一, 九月 28, 2020
Home PV Technology SunPower survived shutdowns to post strong Q2

SunPower survived shutdowns to post strong Q2

Supply chain and manufacturing disruptions will lead to shipping decreases in the third quarter, but SunPower’s pre-pandemic measures ensured strong performance, solid demand, and higher installations.

It’s earnings season, but one of the biggest players in the PV industry, SunPower, was able to weather the shutdowns and stay-at-home orders to deliver a strong quarter.

The company took steps to prepare for disruptions at the onset of the pandemic, including cuts to executive pay, a shorter work week for some employees, and production shutdowns. As a result, it was actually able to post a year-on-year jump in revenue in the first half.

Highlights, guidance

  • A 180 MW new homes backlog, which works out to 45,000 homes
  • Maxeon Solar Technologies successfully provided $325 million in financing
  • An expected share distribution date of Aug. 26 for Maxeon Solar
  • Net income of $19.4 million
  • Rising demand and higher installations of both solar and storage products
  • Three new products: fifth-generation bi-facial P Series module, SunVault storage solution, and the OneRoof solar system

The last two products were highlights of the early portion of the results call, and were described as two of the company’s “most important products ever.” The report also notes that SunPower’s Helix storage solution is approaching an attachment rate of 50% and a total pipeline of more than 625 MWh.

The company did note that shipments are expected to fall in the third quarter, reflecting the production disruptions brought on by the pandemic. But a return to form is expected for the fourth quarter, said CEO Tom Warner.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Apple data center in Denmark powered by 50 MW of solar

Apple has revealed that its data center in Viborg, Denmark, is now being powered by a 50 MW solar project under a long-term power...

Solar + storage experiment in Tampa Bay selected for Solar Energy Innovation Network project

An innovative solar + storage research project led by the Tampa Bay Regional Planning Council has been selected as a finalist for the Solar...

Chinese PV Industry Brief: 350 MW wind-solar project, 200 MW of floating PV

Longyuan Energy said this week that it has signed an agreement with the municipal authorities in Binzhou, Shandong province, to build 300 MW of solar...

IEEE creates education and credentialing program for interconnecting distributed resources to the grid

IEEE and the IEEE Standards Association (IEEE SA) announced the IEEE Std 1547-2018 Distributed Energy Resources (DER) Interconnection Commissioning: Education and Credentialing Program, a new...