SunPower Corp. and Maxeon Solar Technologies Ltd. are extending their supply relationship through 2025. The updated agreement helps SunPower meet rising homeowner demand by providing SunPower with significant additional quantities of Maxeon’s high-efficiency interdigitated back contact (IBC) solar panels, while also significantly enhancing Maxeon’s presence in the U.S. residential market.
“This supply agreement solidifies our long-term relationship with Maxeon and further secures the supply of premium panels for our expanding customer base,” says Peter Faricy, SunPower’s CEO. “Demand for solar continues to increase alongside the desire for clean, affordable and reliable energy, and SunPower is well positioned to capture this growth with trusted products and unmatched customer experience.”
Under the new supply agreement, Maxeon expects to sell additional volumes of its Maxeon 6 panels (marketed in the U.S. and Canada under the SunPower brand as M-Series) to SunPower on an exclusive basis. SunPower will also have the right to negotiate supply of future IBC next generation technology developed by Maxeon, which would enable SunPower to continue to provide homeowners the highest efficient solar technology available to date.
“We are pleased to extend our relationship with SunPower, and our renewed supply agreement continues the exclusive supply of our industry leading Maxeon 6 panels through SunPower’s very well-established channel into the residential markets across the U.S. and Canada,” says Mark Babcock, Maxeon’s interim CEO. “The high retail power prices seen in 2022, which look likely to continue into 2023, have created an environment where more and more consumers are realizing the benefits of top-quality rooftop solar.”
“Maxeon’s innovative panels are well-equipped to deliver these advantages to homeowners across the U.S., where they have been the gold standard for almost 20 years Babcock,” Babcock continues. “We look forward to continuing to work with SunPower to advance the energy transition in the U.S.”