SunPower spent two decades as one of the most recognized names in American residential solar. Founded in 1985 by Richard Swanson, a Stanford professor, the company pioneered interdigitated back contact (IBC) solar cells that consistently achieved the highest efficiency ratings in the residential market — often exceeding 22% conversion efficiency when competitors hovered around 18-20%.
The company offered a complete residential solar package: high-efficiency panels, inverters, battery storage (through partnerships with Enphase and others), and monitoring through the mySunPower app. SunPower sold through both a direct sales force and a nationwide dealer network of certified installers. Its leasing and loan programs helped homeowners go solar with little or no upfront cost.
In 2020, SunPower spun off its manufacturing arm into Maxeon Solar Technologies, keeping the U.S. residential and commercial business. This was supposed to streamline operations, but the company faced mounting challenges — rising interest rates crushed demand for solar loans, inventory management issues created cash flow problems, and competition from lower-cost installers squeezed margins. SunPower filed for Chapter 7 bankruptcy in late 2024 and ceased operations, marking a stark end for one of the industry’s pioneers. The brand and some assets were acquired out of bankruptcy proceedings. At its peak, SunPower had over 3,000 employees and operated across all 50 states.
