SunPower Announces Acquisition of SolarBridge Technologies, Inc.
High Performance Microinverter Technology Offers System Design Flexibility and Lower Cost of Installation
SAN JOSE, Calif., Nov.10, 2014 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR) today expanded its product portfolio for its residential customers with the acquisition of SolarBridge Technologies, Inc., a leader in integrated microinverter technologies for the solar industry. SunPower will utilize this technology, which converts direct current (DC) generated by a single solar photovoltaic panel into alternating current (AC), to develop next generation microinverters for use with SunPower's high efficiency solar panels. Terms of the acquisition were not disclosed.
Based in Austin, Texas, SolarBridge has developed an innovative, highly reliable microinverter solution for roof-ready AC solar panels. Panels with these factory-integrated microinverters can be directly installed, eliminating the need to mount or assemble additional components on the roof or the side of a home.
"SunPower's acquisition of SolarBridge and its high performance microinverter technology will allow us to develop a differentiated product specifically optimized for our high efficiency solar panels," said Tom Werner, SunPower president and CEO. "This is the beginning of integrating electronics into our world-class solar panel technology. In this case, the combined result will provide our residential customers with an elegant, reliable and complete solution that fits their home specifications, including system design flexibility, ease of installation and maintenance and improved overall aesthetics."
With AC solar panels, the power generated by the solar system is optimized and monitored at each solar panel to ensure maximum energy production. They provide design and installation flexibility, and are suited for a wide variety of system and rooftop configurations. AC solar panels also help reduce soft costs associated with residential photovoltaic solar installations, including labor, permitting and customer acquisition costs, which represent a significant portion of the overall system cost. SolarBridge microinverter technology offers a design life in excess of 25 years.
About SunPower Corporation
SunPower Corporation (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpower.com.
SOURCE SunPower Corp.