SunPower launches battery storage initiative with financing partners

SunPower Corp. (NASDAQ: SPWR) announced a strategic initiative to expand home battery storage access through partnerships with Palmetto, The Cool Down media platform, and Enphase Energy Inc. (NASDAQ: ENPH).

The program offers homeowners access to battery systems with flexible financing options through Palmetto's LightReach financing platform. The initiative targets existing SunPower customers and new homeowners across the 45 states where SunPower operates.

The partnership features Enphase's IQ Battery 10C system, which uses lithium iron phosphate battery cells and includes a warranty period. SunPower will handle installation and provide 15 years of system support.

Steve Erickson, executive vice president of SunPower's Battery Division, said the initiative addresses understanding and affordability barriers for battery storage deployment. "The Cool Down media platform reaches homeowners already looking for ways to lower their utility bills and take control of their energy. Palmetto's LightReach financing removes the upfront cost barrier, and Enphase supplies the most reliable battery in the market," Erickson stated.

Troy Roble, senior vice president of Business Development Residential at Palmetto, said the financing products make battery storage addition viable for homeowners without high monthly payments.

SunPower CEO T.J. Rodgers highlighted the Enphase 10C battery's compact size and lithium iron phosphate battery cells, noting its warranty extends five years longer than a top competitor.

The program is available to homeowners in SunPower's service areas, with priority access for existing customers. Battery systems allow homeowners to store solar energy for use during peak-rate hours and power outages.

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