Certasun (my solar installer) sent a follow-up email to SunPower's:
Posted by
oblique (aka kkuphal)
Aug 6 '24, 11:22
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Hi Kevin,
Late last night, SunPower – one of the pioneers of the US solar industry – declared bankruptcy. As you know, your solar system includes equipment from SunPower.
When we started Certasun in 2018, SunPower was the undisputed leader in solar technology and quality. We felt lucky they chose to work with us because their products and reputation matched our aspiration to offer the highest quality solar installations in the Midwest.
Since 2018, though, our fortunes have diverged. Certasun has installed well over 2,000 solar systems and we have developed a reputation for being knowledgeable, honest, and highly professional.
SunPower, on the other hand, expanded into direct sales and installations (in competition with dealers like us) and struggled when interest rates increased and California’s large solar market contracted. Nevertheless, they appeared to have put their house in order until their financial auditor resigned in July over allegations against “current or former members of management who have or had significant roles in internal control over financial reporting”. (We are still shocked and don’t know what the allegations are, or if they are substantiated.)
Here are a few things you should know about this situation:
First, Certasun is a completely independent company on sound financial footing. Certasun is not reliant on SunPower to stay in business.
Second, problems with SunPower systems have been very rare and we don’t expect that to change. We have every reason to believe your system will continue to operate for many years. You should contact us, however, if you think there may be a problem with your system. We resolve most inquiries without help from SunPower.
Third, SunPower has warranty reserves of over $50 million designed to ensure they can always provide support for their customers. It is too soon for us to say whether or how this might be impacted by their bankruptcy, but such reserves are designed to minimize consumer risk.
Finally — for customers with a solar lease or loan facilitated by SunPower — we don’t expect this will mean any significant changes for you. SunPower Corporation is the legal entity that declared bankruptcy, but to the best of our knowledge not the lender or lessor of record for any of our customers. Please continue to make your payments per your agreement.
We realize this is surprising and disappointing news. If you have questions or concerns, please contact us at [email protected] so that we can assist you.
Sincerely,
Josh Lutton
President
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