Maxeon Solar Technologies, Ltd.
TypePublic
IndustryRenewable energy
PredecessorSunPower
FoundedAugust 2020 (2020-08)
Headquarters
Area served
Worldwide
Key people
  • Bill Mulligan (CEO)
  • Donald Colvin (Chair)
RevenueIncreaseUS$1.06 billion (2022)
Negative increaseUS$−200 million (2022)
Negative increaseUS$−267 million (2022)
Total assetsIncreaseUS$1.26 billion (2022)
Total equityDecreaseUS$48 million (2022)
Owner
Number of employees
5,344 (2022)
Websitemaxeon.com
Footnotes / references
Financials as of 1 January 2023.
References:[1]

Maxeon Solar Technologies, Ltd. is a Singapore-based company that designs and manufactures photovoltaic panels. The company was previously a division of the American SunPower company before it was spun off in August 2020. Maxeon is still the primary provider of solar panels for SunPower. Beyond the United States, Maxeon has sales operations in more than 100 countries and has the rights to use the SunPower brand in some of those countries.

When SunPower spun-off Maxeon, the Tianjin Zhonghuan Semiconductor Company invested $298 million for a 29% interest in Maxeon.[2][3] Chinese technology company TCL later purchased Tianjin Zhonghuan Semiconductor, becoming a major investor in Maxeon. SunPower investor TotalEnergies also kept a significant ownership stake in Maxeon.[1]

Its products are known for being more expensive, but producing energy more efficiently than competing products.[2][4][5][lower-alpha 1] Maxeon panels are often used when there is a limited amount of space for the panels, such as on rooftops.[2][lower-alpha 2]

Ordinarily, the electrical contacts are on the front of a solar panel, facing the sun.[6] The front of Maxeon's panels channel the light to electrical contacts on the back of the panel, reducing the amount of sunlight that is reflected rather than turned into energy.[7]

Notes

  1. ↑ "SunPower panels are known for being the most efficient in the industry, able to convert more of the energy in sunlight into electricity. That can give its panels an advantage for space-constrained installations like rooftops, though they can also be more expensive than rivals’ products." (source: Los Angeles Times)
    "SunPower has built a reputation as a maker of highly efficient solar panels and charges a premium price for them." (source: GreenTechMedia)
    "SunPower’s panels, though not the cheapest, are much in demand because they are most efficient at transforming sunlight into energy." (source: Reuters)
  2. ↑ "That can give its panels an advantage for space-constrained installations like rooftops, though they can also be more expensive than rivals’ products."

References

  1. 1 2 "Maxeon 2022 Annual Report". March 7, 2023.
  2. 1 2 3 "One of America's biggest solar-panel makers quits manufacturing". Los Angeles Times. November 12, 2019. Archived from the original on March 8, 2021. Retrieved May 30, 2021.
  3. ↑ Sarkar, Arundhati (November 11, 2019). "SunPower to spin off solar panel manufacturing, shares rise". Reuters. Archived from the original on September 10, 2021. Retrieved May 31, 2021.
  4. ↑ Wang, Ucilia (April 27, 2009). "Pricing Pressure Beating Down on SunPower". Greentech Media. Archived from the original on March 17, 2021. Retrieved May 31, 2021.
  5. ↑ Groom, Nichola (June 1, 2009). "Handful of players seen ruling the solar roost". Reuters. Archived from the original on September 10, 2021. Retrieved May 31, 2021.
  6. ↑ Grant, Tina (2009). "SunPower Corp.". International Directory of Company Histories. Vol. 91. St. James Press. p. 467.
  7. ↑ Takahashi, Dean (August 18, 2014). "2005: Hot IPO for solar cell maker SunPower". The Mercury News. Archived from the original on June 24, 2021. Retrieved May 29, 2021.
  • Official website
  • Business data for Maxeon Solar Technologies, Ltd.:
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