Maxeon Solar Technologies Ltd. announced a new supply agreement with SunPower Corp. signed, which regulates the supply of Interdigitated Back Contact (IBC) solar modules from Maxeon to SunPower for use in SunPower’s home channels in the United States and Canada.
This new supply agreement supersedes the previous agreement in effect since Maxeon’s spin-off from SunPower in August 2020.
“Maxeon products have been the gold standard in the US residential market for over 17 years and have earned a well-known reputation for industry-leading performance, quality and reliability,” said Jeff Waters, CEO of Maxeon Solar Technologies. “SunPower has a very well-established sales channel with a distribution network and a customer base that appreciates the benefits of our products.”
Under the new supply agreement, Maxeon will sell certain quantities of its Maxeon 6 modules (marketed in the US and Canada under the SunPower brand as the M-Series) to SunPower on an exclusive residential market basis through the end of 2022, subject to certain trigger conditions being met are, this exclusive delivery will be extended until October 2023.
“This agreement is also an important step in Maxeon’s strategy to progressively increase direct exposure to the US market,” continued Waters. “Our commitment to the power generation segment is going well, with an order backlog of over 1.4 GW and a number of opportunities in advanced stages of negotiation. Our recently announced collaboration with Omnidian is an example of our increased focus on the US Commercial and Industrial market segment.”
Maxeon will also sell certain quantities of its Maxeon 3 modules (marketed in the US and Canada under the SunPower brand as the X-Series) to SunPower on an exclusive residential market basis through the end of 2022. The new supply agreement includes uniform pricing with current market trends.
“By 2023, Maxeon will be able to address the residential market directly, initially with our Maxeon 3 line of IBCs,” adds Waters. “We are excited to expand our presence in the US and to work with a much broader and more diversified group of market facilitators, many of whom have never had access to Maxeon’s technology.”
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