SunPower mulls sale of CIS unit, bolsters residential solar position with Blue Raven deal

Facebook
Twitter
LinkedIn
Reddit
Email
SunPower will focus on growing its residential and light commercial business. Image: SunPower.

US solar installer SunPower is exploring alternatives for its commercial and industrial solutions (CIS) unit as it increases its residential footprint through the acquisition of Blue Raven Solar.

SunPower said the restructuring, which could result in the sale of CIS, would allow the unit to better take advantage of opportunities such as community solar, front-of-meter storage and infrastructure legislation tailwinds while optimising capital deployment for the company’s residential and light commercial (RLC) business.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“SunPower is doubling down on residential growth,” said CEO Peter Faricy. “By investing in residential market expansion and technology innovation, we can put solar on more homes and provide customers with an incredible experience when they choose renewable energy.”

The company said in an update today (Tuesday) that its Q3 key guidance metrics are projected to be below the low end of the prior guidance ranges, primarily due to CIS project schedule delays and costs as well as the performance of its light commercial business.

Publishing its second-quarter results last month, SunPower had forecasted Q3 revenues to be within the range of US$325 million and US$375 million and adjusted EBITDA between US$21 million and US$31 million.

The CIS division increased installs by around 30% year-on-year in Q2, bringing the unit’s total installed base up to 1GW, while its backlog was more than 260MW at the end of the quarter.

Blue Raven deal expanding SunPower’s footprint

SunPower is paying up to US$165 million to acquire residential solar provider Blue Raven, a transaction it says will allow it to serve more customers in the US Northwest and Mid-Atlantic regions.

The company touted the complementary geographic footprint of the two businesses, with Blue Raven currently conducting more than 90% of its volume in 14 US states that account for only about 5% of SunPower’s sales.

Founded in 2014, Utah-headquartered Blue Raven has achieved a 93% revenue compound annual growth rate with a direct-to-consumer sales and installation model. In the last year, the company posted revenue of US$136 million and deployed 40MW of solar.

Blue Raven CEO Ben Peterson, who will join SunPower’s executive team, said the transaction is a “clear win” for both companies, adding: “Together we will provide even more compelling reasons for homeowners to make the switch to clean, renewable energy.”

Read Next

September 4, 2025
Indian solar manufacturer Waaree Energies has acquired a 64% equity stake in power transformer manufacturing company Kotsons.
September 3, 2025
US residential solar prices have remained at historic lows in the first half of the year despite market uncertainty and continued high interest rates.
September 3, 2025
India has added 2.8GW of rooftop solar in H1 2025, a 158% year-on-year surge from just 1.1GW in the same period last year.
September 2, 2025
SMA Solar has forecast financial losses and further restructuring measures in 2025, as it responds to falling sales and a “challenging” market for residential and commercial renewable energy installations.
Premium
September 2, 2025
In August 2025, the final month of Australia’s winter, utility-scale and rooftop solar PV generation in the National Electricity Market (NEM) saw a dramatic 22.5% month-on-month increase to 3,338GWh.
September 1, 2025
California's solar and storage association has called for US$10 million fines for PG&E and SCE for failing to approve residential solar and storage projects applications quickly.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines