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SunPower’s Future Vision is to be an Energy Services Company

After a string of big losses, SunPower is working to overhaul its business and financials.

In September, the California-based solar manufacturer and development company officially exited utility-scale development, and following its Q1 earnings call this month CEO Tom Werner said that “SunPower will become an energy service provider” rather than a solar-only shop.

SunPower has placed the Oregon factory it purchased last year from SolarWorld on the market, with plans to lease back the portion of the facility it uses.  The Company is already managing its business in two segments: SunPower Energy Services, which encompasses residential and commercial solar systems, and SunPower Technologies, the manufacturing side.

Sumpower plans to unveil new capabilities for its all-in-one Equinox residential system this fall, adding storage plus services to the solar systems it already delivers. In the future, Werner said, the company will work to help customers with rate arbitrage and other grid services.

“As the years go by, we’ll lead with the solar system, but we’ll integrate services and storage. Eventually our vision is, we’ll say to the customer: ‘We’ll take over your energy bill,’” said Werner, adding that it will reduce costs for customers.

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