SunPower Invests in Leading Solar Dealers Renova Energy & EmPower Solar

Source: www.gulfoilandgas.com 9/15/2022, Location: North America

SunPower (SPWR), a leading residential solar technology and energy services provider, today announced it has made minority investments in EmPower Solar and Renova Energy. With these investments, Renova and EmPower are the newest additions to SunPower's Dealer Accelerator Program.

The Dealer Accelerator Program, which SunPower launched in March, provides high-potential solar dealers with capital financing and business strategy support to accelerate growth and meet the increasing homeowner demand for solar nationwide. Dealers in the program exclusively sell industry leading SunPower® solar systems. They also offer SunVault™ battery storage and leverage SunPower Financial™ offerings for solar financing.

"With an increasing need for more affordable and resilient energy coupled with new federal incentives to adopt clean energy, consumer demand for solar is at an all-time high. Through these investments, SunPower is enabling local dealers to capture this strong demand and grow their business," said Peter Faricy, CEO at SunPower. "Renova and EmPower share SunPower's commitment to quality and service, and we look forward to helping them bring the benefits of solar to more people across the country."

Renova Energy is Coachella Valley's leading solar installation company. It employs over 300 people who installed 11,502 kW of solar power in 2021 alone. Named SunPower's "Residential Regional Top Producer of the Year" in 2019 and winner of a coveted SunPower Intelegant award for installation design in 2020, Renova continues to lead in sales performance and craftmanship as a SunPower elite dealer in California and Arizona.

EmPower Solar has served Long Island and the greater New York area since 2003, helping generate millions for the region in economic activity each year. In 2020, the company added an operations center in Farmingdale, NY to support the rapid expansion of its residential solar division and has doubled its workforce since then. In 2021, EmPower Solar installed 7.79 MW of distributed solar and continued to provide five-star service to its existing 5,000+ clients

SunPower also made investments in Freedom Solar Power and Sea Bright Solar as part of the Dealer Accelerator Program earlier this year.


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