PVTIME – In a major development for the US solar industry, Complete Solaria has announced that it is rebranding as SunPower, breathing new life into the once struggling solar giant.
Photo: Complete Solaria
SunPower, a household name in the solar industry, hit a rough patch in 2023 and 2024. After reporting net losses, the departure of its CEO, laying off 1,000 employees and admitting to financial misstatements, the company filed for bankruptcy in August 2023. Just a month later, Complete Solaria bought its assets.
T.J. Rodgers, chairman and CEO of Complete Solaria, said the move was a no-brainer, as using the SunPower brand allows its shareholders to cash in on the legacy of one of Silicon Valley’s oldest and most famous solar companies. And it also changes the stock ticker to SPWR.
Next week, the company will release its 2024 financials, including audited Q4 2024 and unaudited Q1 2025 figures. These results will show that the company has generated over $80 million in revenue in two quarters since the acquisition. This has firmly established the ‘new’ SunPower as a top-tier player, ranking fifth in the residential solar market with annualised revenue of over $300 million.
Originally founded in 2022 and listed on the NASDAQ as CSLR, Complete Solaria has long specialised in solar technology, installations and financing. Now, with the rebrand, Rodgers is confident. He believes the combination of SunPower’s brand power and Complete Solaria’s innovation will drive growth in the booming residential solar market. With the world clamouring for clean energy, the new SunPower looks set to shine.
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