Company type | Public |
---|---|
| |
Industry | Renewable energy |
Predecessor | SunPower |
Founded | August 2020 |
Headquarters |
|
Area served | Worldwide |
Key people | |
Revenue | US$1.06 billion (2022) |
US$−200 million (2022) | |
US$−267 million (2022) | |
Total assets | US$1.26 billion (2022) |
Total equity | US$48 million (2022) |
Owner |
|
Number of employees | 5,344 (2022) |
Website | maxeon |
Footnotes /references Financials as of 1 January 2023 [update] . References: [1] |
Maxeon Solar Technologies, Ltd. is a Singapore-based company that designs and manufactures photovoltaic panels. The company was previously a division of the American company SunPower. Maxeon was spun off from SunPower in August 2020. Maxeon was the primary provider of solar panels for SunPower through March 2024. [2] Beyond the United States, Maxeon has sales operations in more than 100 countries and has the rights to use the SunPower brand in countries outside the United States.
When SunPower spun-off Maxeon in August 2020, the Tianjin Zhonghuan Semiconductor Company invested US$298 million for a 24% interest in Maxeon. [3] [4] Chinese technology company TCL later purchased Tianjin Zhonghuan Semiconductor, becoming a major investor in Maxeon. SunPower investor TotalEnergies also kept a significant ownership stake in Maxeon. [1]
In March 2024, Maxeon Solar filed a patent infringement lawsuit against Canadian Solar. [5] [6] The alleged infringement was linked to Maxeon's TOPCon solar cell technology. [5] [6] [7]
Its products are known for being more expensive, but producing energy more efficiently than competing products. [3] [8] [9] [lower-alpha 1] Maxeon panels are often used when there is a limited amount of space for the panels, such as on rooftops. [3] [lower-alpha 2]
Ordinarily, the electrical contacts are on the front of a solar panel, facing the sun. [10] The front of Maxeon's panels channel the light to electrical contacts on the back of the panel, reducing the amount of sunlight that is reflected rather than turned into energy. [11]
Photovoltaics (PV) is the conversion of light into electricity using semiconducting materials that exhibit the photovoltaic effect, a phenomenon studied in physics, photochemistry, and electrochemistry. The photovoltaic effect is commercially used for electricity generation and as photosensors.
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A solar panel is a device that converts sunlight into electricity by using photovoltaic (PV) cells. PV cells are made of materials that produce excited electrons when exposed to light. The electrons flow through a circuit and produce direct current (DC) electricity, which can be used to power various devices or be stored in batteries. Solar panels are also known as solar cell panels, solar electric panels, or PV modules.
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SolarCity Corporation was a publicly traded company headquartered in Fremont, California, that sold and installed solar energy generation systems as well as other related products and services to residential, commercial, and industrial customers. The company was founded on July 4, 2006, by Peter and Lyndon Rive, the cousins of SpaceX and Tesla CEO Elon Musk. Tesla acquired SolarCity in 2016, at a cost of approximately US$2.6 billion and reorganized its solar business into Tesla Energy.
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Skyline Solar was a Concentrated Photovoltaic (CPV) company based in Mountain View, California. The company developed medium-concentration photovoltaic systems to produce electricity for commercial, industrial and utility scale solar markets. The company was founded in 2007 by Bob MacDonald, Bill Keating and Eric Johnson. The operation of the company appears to have ceased in late 2012 and the website is deactivated.
Solar Mosaic is a clean energy fin-tech company based in Oakland, California. Founded in 2010, Mosaic created its initial business model using crowdfunding principals to offer loans for commercial solar development projects. After shifting its model in 2014, Mosaic is now focused on financing residential solar projects by leveraging third party capital partners. Through this model, the company aims to democratize the social and environmental benefits of clean energy.
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