To my valued clients, who installed and own SunPower products, I am sharing the unfortunate news that: on August 5, 2024, SunPower Corporation, and nine (9) of its affiliates (collectively, the “Debtors”) filed petitions in the United States Bankruptcy Court for the District of Delaware seeking relief under chapter 11 of the United States Bankruptcy Code.
https://dm.epiq11.com/case/sunpower/info
https://us.sunpower.com/update
It is important to note, in August, 2020, SunPower Corporation and Maxeon Solar Technologies made a transaction to split the company into two separate companies: SunPower (NASDAQ:SPWR) and Maxeon Solar Technologies (NASDAQ:MAXN). During this restructuring, Maxeon took ownership of panel and cell manufacturing facilities located in France, Malaysia, Mexico and the Philippines.
SunPower’s focus following the split was on the North American Solar market with distribution, sales, marketing and installation of solar panels, energy storage and associated products. Maxeon Solar Technologies became the global developer, distributor and manufacturer of the previously SunPower panels with Maxeon cell technology, and to follow the split: Maxeon Technologies solar cells and panel lines.
Since the split of the two companies, SunPower began sales of other panel technologies, and rebranded the lines with SunPower branding, offering SunPower warranties, under a new lower cost series called SunPower U series. SunPower also continued, to purchase Maxeon Technologies manufactured panels, and brand as SunPower Maxeon lines: M series, A series, X series, & E series, including SunPower warranties on the Maxeon lines.
The biggest questions following the Ch 11 announcement are: “What happens to: SunPower warranties, service, proprietary monitoring, and or proprietary SunPower SunVault storage service and warranties?”
Two promising statements that have been made following SunPower’s announcement in regard to SunPower warranties moving forward. Maxeon Technologies and Enphase Energy Inc. have published letters to SunPower customers, stating they plan to support products they have manufactured that were installed under SunPower brands.
Maxeon Technologies lines include: Sunpower “X, M, A, and E series.” It’s not clear if Maxeon will put any restrictions on dates of installation or if they plan to cover all Maxeon products historically. Maxeon Solar Technologies made the statement in a letter to SunPower customers dated: August 15th, 2024: “If you own a SunPower system that includes SunPower-branded panels that are manufactured by Maxeon Solar Technologies, Maxeon will meet its warranty obligations for these solar panels.” Read Letter Here
Enphase Energy Technologies Inc is the manufacturer of most of the SunPower AC products, microinverters that were factory integrated into the SunPower “AC” or “SunPower Equinox” panels. Enphase Energy, Inc has stated in a letter to SunPower system owners: “Rest assured that Enphase Energy will honor the terms of the product warranty for Enphase microinverters used in SunPower solar systems.” Read Letter Here
SunPower U series panels have multiple manufacturing sources and there are also earlier versions of Maxeon panels that include a microinverter manufacturer, that was not Enphase.
There are still unanswered questions regarding what this Ch 11 announcement means for customers and partners. While we do not not have all the answers at this time, I intend to keep you updated as necessary as we navigate this process.