California — SunPower announced it launched the SunPower Dealer Accelerator Program.
SunPower says it’ll use the program to make investments in local solar dealers to advance their growth, and in turn, helping to speed the adoption of renewable energy across the U.S.
With the launch of the program, SunPower is making minority investments in Freedom Solar Power and Sea Bright Solar, two SunPower Master Dealers.
Freedom Solar and Sea Bright — who are already exclusively selling SunPower® solar systems — will sell SunVault™ battery storage and leverage SunPower Financial™ offerings for solar financing as part of the deal. In addition to capital, SunPower will provide the dealers with enhanced lead generation and business strategy support.
The solar industry is at a strategic inflection point.
Residential solar installers surpassed half a million installations in 2021, a first for the industry, and the residential solar market is expected to grow by 113% over the next 10 years, according to Solar Energy Industries Association (SEIA) and Wood Mackenzie.
Yet, with less than 5% of U.S. homes currently powered by solar, this strong industry-level momentum along with the dramatic shift to a digital-first business environment highlights the need for solar companies to double down on software and customer service to meet demand and capture market share.
“Following the Texas winter storm, 2021 was a record-breaking year for Freedom Solar with more homeowners seeking reliable, clean solutions,” said Freedom Solar Power CEO Bret Biggart. “By establishing a closer relationship with SunPower, we are well-positioned to double our growth in 2022 through a combination of organic growth in existing markets and accelerated new-market expansions. It’s more than the additional financial resources but the intellectual horsepower and extensive network we create together.”