The end of one-stop solar?

Sunpower spins off its solar panel manufacturing business

sunpower

In a move some say indicates the “maturing” of the industry, the well known solar energy provider SunPower has created a new company, Maxeon Solar Technologies to take over its solar manufacturing business.  The new company will be headquartered in Singapore.

SunPower will keep its energy storage business. Per an article in Reuters, “The move was intended to boost value in SunPower shares, which are trading at the same level they were at two years ago.”  And, it may have worked. Again from the Reuter’s article, “Monday’s news was welcomed by investors, with shares up nearly 3.7% at $8.68 in afternoon trade.”

Avi Salzman for Barron’s, however, isn’t so sure, titling his article about the change, “SunPower Stock May Struggle To Shine After Spinoff.” In his view, “It’s complicated.”

Energy reporter Will Wade, writing for Bloomberg, summed up the move in an article titled, One of America’s Biggest Solar Panel Makers Quits Manufacturing:

SunPower described the move as a natural evolution of the maturing solar business. Panel makers once had to help create their own market by installing the equipment they manufactured. Now the market is big enough for companies to specialize in one or the other. First Solar Inc., the largest U.S. panel maker, walked away in September from the business of building solar farms to focus on manufacturing. SunPower is moving in the opposite direction.

 

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