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Concept
SunPower
Summary
SunPower Corporation is an American provider of photovoltaic solar energy generation systems and battery energy storage products, primarily for residential customers. The company, headquartered in San Jose, California, was founded in 1985 by Richard Swanson, an electrical engineering professor from Stanford University. Cypress Semiconductor bought a majority interest in the company in 2002, growing it quickly until SunPower went public in 2005. TotalEnergies, a French energy and oil company purchased a controlling interest in SunPower for billion in 2011.
The company previously developed and manufactured photovoltaic panels, before spinning off that part of its business in 2020 as Maxeon Solar Technologies. The company had also previously marketed its products to commercial and industrial customers before agreeing to sell that business line to TotalEnergies in February 2022.
SunPower was founded on April 24, 1985, by Richard Swanson, who was a Stanford University professor focused on electrical engineering. Swanson studied solar power efficiency in the Stanford Electronics Laboratory with funding from research grants. After breaking a record for solar power efficiency in lab conditions, he took a sabbatical to start SunPower and commercialize the technology. Initially, the company was called Eos and was funded with 600,000 in 1989 to 6 million in 1996. However, by 2001 the company was anticipating having to lay off half of its employees.
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