SunPower filed chapter on Monday
SunPower was initially going to be GM’s installer for residence vitality storage methods
A decade in the past SunPower was the preferred alternative amongst corporations for photo voltaic installations
Photo voltaic firm SunPower, which was as soon as set to be the designated installer for Normal Motors residence vitality storage methods, has filed for Chapter 11 chapter within the U.S.
As reported by Electrek, SunPower submitted its chapter submitting to a Delaware court docket late Monday. Within the submitting, SunPower reported its property and liabilities to be between $1 billion and $10 billion, and mentioned it might promote elements of its enterprise to Full Solaria for $45 million in money.
2024 Chevrolet Silverado EV with GM Ultium Residence vitality system
A decade in the past, SunPower was the preferred alternative amongst large companies searching for so as to add photo voltaic installations. However in recent times it appears to have had bother maintaining with the competitors on price. And Tesla’s continued struggles with photo voltaic underscore it isn’t a simple market to squeeze into.
SunPower was additionally at the forefront of the convergence of EV charging and photo voltaic, with a partnership with Wallbox in 2021 just about assuring that it might have a task on this merging of market segments. GM initially tapped SunPower because the installer for its Ultium Residence methods, however a couple of months in the past the automaker introduced that it was switching to Qmerit.
2024 Chevrolet Silverado EV with GM Ultium Residence vitality system
“GM and SunPower reached a mutual choice to discontinue their work collectively earlier this yr. GM Power stays dedicated to delivering its residential suite of merchandise to prospects alongside our most well-liked installer, Qmerit,” the automaker mentioned in an announcement.
GM mentioned in 2023 that it might add bidirectional charging to all EVs utilizing its Ultium element set, with vehicle-to-home (V2H) {hardware} equipped purchase its new GM Power enterprise permitting these EVs to function backup energy sources. That {hardware} takes the type of the Ultium Residence V2H Bundle GM detailed final yr.