SunPower and Sunverge to Offer Solar Storage Solutions - Analyst Blog

SunPower Corporation (SPWR) has agreed to team up with Sunverge Energy, Inc. to provide the former's fully integrated solar power systems and the latter's Solar Integration System (“SIS”) energy storage solutions to residential customers and utilities in the U.S.

The two companies are catering to Australian customers through a similar offering and aim to provide combined solar and energy solutions commercially by early 2015.

SunPower, the second-largest solar manufacturer in the U.S., is committed to provide high-performance, high-efficiency solar power products to its customers. In fact, the E-series solar panels generate 36% more power per panel as compared to the conventional panels, making it quite economic as well. Its X-series panels, on the other hand, are able to generate 44% more power than conventional panels.

CA-based Sunverge is one of the leading companies in the distributed energy storage market. SIS is a distributed energy storage solution, which includes power electronics and various energy inputs monitored by software operating in the cloud. SIS ensures reduced costs through highly accelerated integration of renewable energies and electric vehicles.

This partnership is thus expected to deliver efficient and economic solar and energy storage solution to customers. The customers will enjoy access to a ‘Smart Energy' solution that has twin benefits of rooftop solar and storage at a reduced cost.

Lately, SunPower has been trying to tap into the growing residential solar market in the U.S. Residential solar is apparently the next big thing in the U.S. and expected to witness immense growth on rising awareness and initiatives by the government to promote clean energy.

In Apr 2014, SunPower had teamed up with Google Inc. (GOOGL) to form a $250 million fund and facilitate installation of solar panels in U.S. residences. The agreement essentially aims to finance residential solar system installations, which SunPower will then lease out to homeowners.

Other solar companies are also keen to strengthen their presence in the residential solar space. First Solar Inc. (FSLR) recently declared its partnership with Colorado-based Clean Energy Collective to develop and market community solar projects to residential customers and businesses. SolarCity Corp. (SCTY) is also pursuing multiple growth ventures and financing strategies to expand its presence in the residential solar market.

Focus on efficiency and customer value will ensure that SunPower witnesses significant traction, going forward. It currently carries a Zacks Rank #3 (Hold).

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