Residential solar installer SunPower has made minority investments in solar dealers Renova Energy and EmPower Solar, adding both to its “dealer accelerator program”.
The US installer’s programme, which was launched in March 2022, provides solar dealers capital financing and business strategy support to accelerate their growth, along with the ability to sell SunPower’s solar, storage and financial products.
Moreover, Renova Energy covers the US states of California and Arizona, where is has installed 11MW of rooftop solar in 2021, while EmPower Solar covers Long Island and the greater area of New York and installed 7.79MW of distributed solar in 2021.
In 2020, EmPower Solar opened a new operation centre in Farmingdale, New York and has since doubled its workforce to help with the increased demand for residential solar around New York.
With this investment, the solar installer continues its expansion in the residential market which has been booming in the US this year so far.
Earlier this year, the company partnered with retail giant IKEA to expand the availability of its home solutions in the US, with select IKEA stores in California offering SunPower’s solar panels and battery storage systems starting this Autumn.
“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.