Maxeon

Solar panel producer Maxeon Solar Technologies will lay off 750 employees by the end of the year as the company reels from reduced shipments from its largest distributed generation (DG) customer in North America and an ‘industry-wide demand slowdown’ in global DG markets.

Bill Mulligan, CEO of Maxeon, spoke to pv magazine at the recent Intersolar 2023 trade show about the Singapore-based module manufacturer’s expansion plans and tech roadmap, as well as current oversupply challenges. He said Maxeon plans to develop IBC products and TOPCon panels in shingle formats.

Maxeon and Samsung have developed a cloud-to-cloud system to transmit data from Maxeon’s PV panels and batteries to Samsung’s home platform. The heat pump integration enables the use of surplus PV energy to preheat rooms at specific times.

Maxeon said it has achieved a 24.7% efficiency rating for a full-scale Maxeon 7 solar panel using its IBC technology. The US National Renewable Energy Laboratory (NREL) confirmed the result.

The manufacturer said the 40/40 warranty is the longest and most comprehensive combined warranty offered in the photovoltaic industry to date. The product line is sold in most countries outside the United States and Canada under the SunPower Maxeon brand.

The Singapore-based manufacturer operates two factories in the Baja California state bordering the United States and the entire output of the facility in Mexicali will be shipped exclusively to the US market. Furthermore, the company’s chief revenue officer, Mark Babcock, told pv magazine that a manufacturing facility is also being considered in the US.

The TotalEnergies-controlled solar manufacturer will secure an, as yet undetermined chunk of a new €118.6 million low-carbon innovation fund to start producing its frameless, glass-free solar roofing products at Porcelette, in northeastern France.

Singapore-based solar manufacturer Maxeon has unveiled the new Performance 3 AC panel, the latest addition to its AC range.

Peter Faricy was not at the helm during the opening quarter of 2021 but his first earnings call saw him explaining a quarter-on-quarter reverse from a $413 million profit to a near $50 million loss.

The expansion depends on the company obtaining debt or equity financing to buy equipment, after which initial sales are expected to start in the first quarter of 2022.