Yahoo Autos SunPower (SPWR) Extends SunVault Battery-Storage Product Line
SunPower Corporation SPWR recently announced a product-line extension in the battery-storage segment of its business. The company has strategically expanded its product portfolio by introducing 19.5 kilowatt-hour (kWh) and 39 kWh SunVault battery-storage products.
The launch extends SunPower’s SunVault availability in five configurations now, in 13 kWh, 19.5 kWh, 26 kWh, 39 kWh and 52 kWh. Some of these are equipped with multiple inverters and boast a storage capacity of 26 kWh or more, thus enabling homeowners to power the entire house in case of a power outage.
Such a product-portfolio building strategy is expected to provide SunPower with a competitive edge as it seeks to provide customers with a wide range of products to choose from.
Significance of the Newly Launched Products
The new battery configurations boast amplified energy density and maximize space within the battery compared with the older versions of SunVault. This boosts the storage capacity of the battery in a single box.
The additional features mean that customers will not have to spend more for a larger storage space. To complement this, SunPower has enhanced the SunVault with a modular configuration that increases the storage size as and when needed. SunPower has also put in efforts to enhance the agility and adaptability of the battery, thus easing the process of installation for homeowners.
Such design upgrades, along with capacity expansion, will surely aid product penetration amid rising solar demand, thereby boosting revenue generation prospects.
Looking Ahead
The recently enacted Inflation Reduction Act has the provision of incentives for homeowners opting for the battery-storage solution. From 2023 onward, homeowners can avail a 30% tax credit for battery technology when purchasing battery storage.
Such incentives would surely propel the demand for battery technology going ahead as prolonged power cuts, scorching heat waves along with high energy costs continue to add to the vulnerabilities of homeowners.
SunPower’s recent launch may help it to witness overwhelmingly strong demand as homeowners’ demand for a reliable, sustainable and clean energy source increases.
Other solar majors that have carved out a position in the battery-storage segment and may prosper in the increased demand scenario are:
