SunPower Corporation’s Solar Panel Suppliers
The majority of the solar panels used in SunPower Corporation‘s residential system solutions are sourced from Maxeon Solar.
That sourcing is based on the terms of the master supply agreement, dated February 14, 2022 and amended on December 31, 2022 and November 13, 2023.
During fiscal 2022, SunPower also began procuring various modules and components for its residential systems from Waaree Energies Ltd. and Hanwha Qcells through a series of purchase agreements.
In addition, this company entered into a new supply agreement with Maxeon Solar dated December 31, 2022, for the purchase of certain designated residential solar products, including premium high-efficiency IBC solar panels, during fiscal years 2024 and 2025.
SunPower has secured the supply of domestically assembled panels through its agreements with Hanwha Qcells that are manufactured in Dalton, Georgia.
Therefore, the company has the potential to benefit from the Inflation Reduction Act of 2022 (IRA) through incentives for corporations to use domestic content in third-party owned systems.
SunPower
SunPower is a leading solar energy services and technology provider offering fully integrated solar, storage and home energy solutions to customers primarily in the United States and Canada through a variety of hardware, software and financing options and «Smart Energy» solutions.
Its Smart Energy initiative is designed to add layers of intelligent control to homes, buildings and grids, all customized through easy-to-use customer interfaces.
Overall, SunPower works with its suppliers and partners to ensure supply chain reliability.
Solar Energy
The company continues to diversify its supply base by forging new relationships with single-source parts suppliers to support continuity of supply and new products.
It has also entered into multi-year supply agreements with certain suppliers, under which it has minimum annual purchase obligations.
At the same time, the company has initiated new partnerships with minority-owned business organizations through its 25×25 DE&I initiative, where it is committed to ensuring industry equity and increasing its supplier diversity.
