Tahoe2468
2 hours ago
New Mexico's deal with Maxeon ranked among the top deals in North America
Governor says the agreement with Maxeon will create up to 1,800 jobs
By Tom Joyce The Center Square
Wednesday, May 8, 2024 12:53 PM Updated Monday, May. 13, 2024 9:47 AM
A solar farm is seen west of Rio Rancho on June 15, 2021. Site Selection magazine recently featured New Mexico’s agreement with Singapore-based Maxeon Solar Technologies to construct a solar cell manufacturing plant in Albuquerque on its 2023 Top Deals in North America list. Susan Montoya Bryan/AP File Photo
Site Selection magazine recently featured New Mexico’s agreement with Maxeon Solar Technologies to construct a solar cell manufacturing plant in Albuquerque on its 2023 Top Deals in North America list.
The list released last week put the $1 billion Maxeon project in Mesa del Sol at 17th among the top deals in 2023, according to the New Mexico Economic Development Department.
“New Mexico’s deal with Netflix was honored by Site Selection in 2021, and now, with Maxeon, the state has a strong track record of recruiting global companies that will have a significant economic impact and help New Mexico families attain higher-paying jobs and economic security,” Acting Economic Development Cabinet Secretary Mark Roper said in the release.
In June 2023, New Mexico Gov. Michelle Lujan Grisham said the agreement with Maxeon would create up to 1,800 jobs.
Once finished, Maxeon’s 1.9-million-square-foot campus in Albuquerque will be its first U.S. manufacturing expansion.
“The new world-class, 3-gigawatt facility is designed to produce the latest-generation silicon cell technology, serving both the Utility Scale Power Plant market and Distributed Generation rooftop applications,” the release said.
Maxeon’s 160-acre plant and planned capacity would be about double the size of the second-biggest silicon solar manufacturing facility currently operating in the United States.
The site would include solar cell fabrication, panel assembly, a warehouse, and administrative offices.
Maxeon currently has plants in Mexico, Malaysia, and the Philippines.
Recently, Maxeon hired an Albuquerque-based project manager to oversee the facility's construction.
“Site surveys and geotechnical evaluation have been completed, and the construction air permit has been issued,” the release said. Further construction is pending approvals with the City of Albuquerque on water and wastewater treatment and the closing of financing.”
Additionally, Maxeon submitted a funding application for the project under the U.S. Department of Energy’s (“DOE”) Title 17 Clean Energy Financing Program; that application is currently under diligence review. Similarly, Maxeon also successfully finished the National Environmental Policy Act (NEPA) review related to this application.
Maxeon will benefit from many tax credits and credits once the project comes to fruition. Some of those benefits include, “a job-creation award from New Mexico’s LEDA closing fund, state manufacturing tax credits, credits for high-wage job creation, property tax relief stemming from Bernalillo County Industrial Revenue Bonds, and a new Advanced Energy Tax Credit, signed into law by Gov. Lujan Grisham in March 2024,” the release said.
Maxeon will get $20 million in LEDA funding, plus 2.08% of the Gross Receipts Tax on construction costs of the project (0.913% from New Mexico, 0.797% from Albuquerque, and 0.375% from Bernalillo County), according to documents NMEDD provided The Center Square. Maxeon will also receive a $2.4 billion industrial revenue bond from the state. However, other incentives in the deal depend on how much equipment the company buys and how many employees it hires, so the final calculations remain unknown.
“This project highlights how New Mexico’s investments in clean energy and manufacturing have built an ideal business environment for companies like Maxeon,” New Mexico Partnership President & CEO Melinda Allen said in the release. “It’s also a great example of how our government and industry stakeholders can mobilize quickly and effectively to meet the needs of a large-scale project.”
https://www.the-journal.com/articles/new-mexicos-deal-with-maxeon-ranked-among-the-top-deals-in-north-america/
Tahoe2468
2 hours ago
New Job from MAXN in New Mexico posted 3 days ago!! That is solid
https://www.google.com/search?client=safari&sca_esv=04e53c1f6922b640&hl=en-us&sxsrf=ADLYWILGAj_d9cjVZzBgvN8pZLtsKIbgjQ:1721603825287&q=Maxeon+Albuquerque+jobs&sa=X&ved=2ahUKEwioz8mDormHAxXgrYkEHdz2AaMQ1QJ6BAhTEAE&biw=326&bih=549&dpr=3#fpstate=tldetail&htidocid=Gt2Nwk7uZRAn4SHuAAAAAA%3D%3D&htiq=Maxeon%20Albuquerque%20jobs&htivrt=jobs
Job description
Powering Positive Change™ Join Our Team at Maxeon: Manager, Global Compensation & Benefits – Where Innovation Meets Sustainability Who We Are: Pioneers in Solar Energy at Maxeon, we're not just harnessing the power of the sun, we're leading a global energy revolution. Our mission? To champion solar energy for a sustainable future. In a world of constant change, the only way to make a meaningful impact is to stay ahead of the curve. That’s why at Maxeon Solar Technologies we've been pushing the boundaries of solar innovation every day for 39 years – from the very edge of outer space to countless rooftops below. Our highly advanced solar products are powering the fight against climate change in more than 100 countries around the globe. And our brilliant, passionate, and driven team of more than 4,000 people globally are Powering Positive Change™ every day. We value pushing boundaries, holding ourselves to a higher standard, and thriving together. If you are ready to contribute to our journey of excellence, we invite you to be a part of our dynamic team! Learn more about Maxeon Are you ready to power positive change? Your Mission: As our Manager, Global Compensation & Benefits based in Albuquerque, New Mexico and reporting to the Director, Global Rewards, your role will be pivotal in developing global compensation and benefits policies and programs, in line with Maxeon’s total rewards philosophy, to support the company objectives and implementing through the country HR Operations and HRBP teams. You will be part of a global team and this role has both global and US responsibilities, which provides exciting development for someone keen to expand their experiences. Make Your Mark: How You Will Drive Change: The scope of this role includes but not limited to the following (other tasks assigned): • * Global Job Architecture - Develop, review and update the company’s global job architecture and grading structure across all parts of the business. This includes establishing global benchmarking guidelines for assessing external competitiveness of the total compensation structures and benefits programs calibration. • Global Compensation and Benefits Benchmarking - As the centre of excellence, identify the appropriate benchmarking surveys to participate for each market and manage the global engagement contracts with survey vendor/s centrally. Participates in annual benchmarking surveys. Perform benchmarking analysis to support total compensation reviews, development or revision of benefits, development of salary ranges etc. to align with the market. • Global Compensation Program Management – As the Program Manager, manage the design and implementation of the annual compensation review process including annual increment (AI) and variable bonus (VB) cycles with Total Rewards leader and CHRO. Design templates/tools, methodology for budgeting and guidelines for execution through the local HR Operations team members. Collaborates with country HR leaders and HRBP on the execution within the defined guidelines. Work with country HR Ops teams and payroll on execution of payouts. • Global Benefits Management – Manage the design and implementation of the framework and guidelines for reviewing and approving benefits program globally with Total Rewards leader and CHRO. Advise and collaborate with country HR leaders in ensuring governance within the defined guidelines and adherence to global benefits philosophy in the local benefits program/plan design. • Global Sales Compensation Plan Management – Manage the job grading and pay mix analysis for sales and marketing positions. Review the effectiveness of sales compensation payout results and ensure they align to original plan design and governance controls. Work with Sales Operations team as required to determine sales commission payouts. • Manpower cost budget - Develop manpower cost planning (labor budgeting) framework which is reviewed on an annual basis and work with Global Finance team to implement through labor budgeting processes. • Ensures company compliance with government laws governing both compensation and benefits practice. You will have the opportunity to present recommendations and programs to Senior Leaders, Senior HRLT and our Executive Leadership Team (ELT) as required. Your Toolkit: Skills That Make a Difference Essential for your Success: We understand that everyone has followed unique career paths, gaining valuable knowledge along the way. Don't worry if you don't tick all the boxes – apply anyway! Your experience is more than just a list of technical skills.? • Bachelor’s degree and around 10+ years of related compensation & benefits experience. • Ability to approach program designs, project management and vendor management from a global perspective • Ability to articulate viewpoints with clarity of thoughts and exercise judgement based on facts and reliable data • Previous experience in compensation or total rewards position in a publicly traded US listed company preferred. • Proficiency with Microsoft Office, including strong Excel skills. • Attention to detail and follow-up skills with ability to identify and resolve problems. • Flexible mindset and willingness to learn other total rewards programs. • Possess strong consultative skills and proven record in customer relationship management • Demonstrated ability to influence senior leaders. Excellent verbal and written communication skills with the ability to communicate effectively and interact with all levels of the organization. • Able to effectively manage demanding workloads and competing priorities and team management. • A self-starter who can work in a fast-paced, complex and challenging environment • Demonstrated leadership as a subject matter expert and the ability to be hands on to support the HR team in implementation and execution. It would be Nice if You Have: • Global Remuneration Professional (GRP) certification will be an added advantage. • Demonstrated experience with HRIS/payroll systems (SAP/SuccessFactors) Life at Maxeon: Beyond the Job At Maxeon, we are committed to creating an environment where innovation flourishes, diversity is embraced, and maintaining a healthy work-life balance is prioritized. We understand that our employees are our greatest asset, and we strive to support them both professionally and personally. Here’s what you can expect when you join our team: Competitive Salary and Benefits, Career Development Opportunities, Inclusive and Diverse Culture, Work-Life Harmony & Innovative Environment. Ready to Make an Impact? Join Us! If you're driven by making a difference and eager to join our mission at Maxeon, we can't wait to meet you. Apply today and join our team to make a brighter future together. The US base salary range for this position?is US$128,000-$160,000 per year + benefits.?Compensation may vary outside of this range depending on several factors, including a candidate’s qualifications, skills, competencies, experience, and location.? Our Commitment to Equal Opportunities: Maxeon is dedicated to fostering a diverse and inclusive workplace. We actively provide equal employment opportunities, ensuring that every individual, regardless of background, can thrive. Maxeon will not tolerate unlawful discrimination against any applicant or employee. Our commitment goes beyond compliance; it’s integral to our values. Join us in creating a workplace where everyone is valued, respected, and empowered to contribute their best
Tahoe2468
1 day ago
SHORTS SHITYING READING THIS!!! Thanks Microsoft for killing the mojo on FRIDAY dbags!!!
Largest solar-plus-storage project in U.S. now operational in Nevada
Gemini is located thirty minutes outside of Las Vegas and with its 1.8 million solar panels, will power about 10% of Nevada’s peak power demand.
JULY 19, 2024 ANNE FISCHER
Gemini solar-plus-storage project near Las Vegas.
Image: Primergy
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Primergy and Quinbrook Infrastructure Partners announced that the Gemini solar-plus-storage project outside of Las Vegas, Nevada is now operational.
The 1.8 million solar panels are expected to generate up to 690 MW and they’re co-located with 380 MW of 4-hour battery energy storage (1,400 MWh). Using a DC-coupled storage configuration enables the batteries to be charged directly by solar, thus increasing efficiency.
In April 2022 the two companies announced that they had closed on a landmark deal of $1.9 billion in debt and tax equity financing project. The debt financing consists of $1.3 billion in credit facilities and $532 million in tax equity commitments, with the tax equity commitments provided by Truist Bank and Bank of America.
In constructing the project, which is on federal land, Primergy reports that it “created and implemented an unprecedented framework for ecosystem management” by leaving vegetation in place and using a tracker system that follows the natural undulations of the ground. The company estimates that it was able to reduce the project’s land footprint by over 20%.
During construction the project reportedly created approximately 1,300 union and prevailing wage jobs and contributed approximately $463 million to Nevada’s economy.
“Gemini creates a blueprint for holistic and innovative clean energy development at mega scale, and we are proud to have brought this milestone project to life and to have delivered so many positive impacts across job creation, environmental stewardship, and local community engagement,” said David Scaysbrook, co-founder and managing partner of Quinbrook.
The project uses MAXEON Solar Technologies’ solar modules that use bifacial mono-PERC solar cells made on large format 8-inch G12 wafers. Maxeon reports that these modules offer efficiency of over 21%, enhanced shade tolerance, and power ratings of up to 625 watts. The modules are mounted on trackers from Array and Ojjo, which are specifically designed to withstand harsh desert environments and high wind speeds with a patented wind-mitigation system.
Primergy selected Kiewit Power Constructors Co. as Gemini’s engineering, procurement and construction (EPC) partner and IHI Terrasun Solutions as the integrator for the project’s 380 MW/1,520 MWh lithium-ion battery.
NV Energy signed a 25-year power purchase agreement for the energy produced by the Gemini plant. It is expected to meet 10% of Nevada’s peak energy needs.
Primergy Solar is a developer, owner and operator specializing in utility-scale solar PV and battery storage projects across the U.S. Quinbrook Infrastructure Partners is an investment manager focused on the infrastructure needed to drive the energy transition in the UK, U.S., and Australia.
https://pv-magazine-usa.com/2024/07/19/largest-solar-plus-storage-project-in-u-s-now-operational-in-nevada/
Tahoe2468
1 day ago
Read the last paragraph !!!
Maxeon and SunPower will no longer be exclusive starting March 2024
By Kelly Pickerel | November 16, 2023
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SunPower dealers will soon have access to solar panels outside of Maxeon’s portfolio, and Maxeon panels will be hitting more roofs across the country now that the two companies have agreed to end their exclusive relationship in the United States.
It’s been a rocky road for the two brands that officially divorced in 2020, when SunPower separated its manufacturing arm from its North American installation network. Maxeon would focus on supplying the global market with both utility-scale and distributed generation solar panels, and SunPower would stick to residential and new construction installs in the United States.
Maxeon was permitted to sell its shingled-PERC Performance modules to anyone in the U.S. utility-scale market but could only access the U.S. DG market through its exclusive supply agreement with SunPower. Maxeon started setting up distributor relationships in 2022 to get its M-Series panels using interdigitated back contact (IBC) technology to more residential installers in the United States. Then SunPower and Maxeon extended their exclusive partnership through 2025.
But now that exclusive relationship will be coming to an end. After March 31, 2024, Maxeon will be permitted to sell its M-Series panels to non-SunPower installers in the United States.
“In DG, our business was negatively impacted by SunPower falling behind on payments, which caused Maxeon to suspend shipments to them starting in July,” said Maxeon CEO Bill Mulligan in the company’s Q3 2023 financial results call. “I am pleased to announce that we have reached a settlement with SunPower that has allowed us to resume shipments, while mutually releasing all outstanding claims.”
SunPower will purchase 85 MW of Maxeon’s IBC panels through February 2024 and then the supply agreements will be terminated.
This is ideal timing for Maxeon, as it recently acquired former shingled-cell competitor Solaria. Maxeon now has access to Solaria’s dealer channel and all of the company’s patent portfolio.
“We expect that this transaction will expand our U.S. DG market footprint in two ways. First, incorporation of Solaria’s nationwide dealer channel will inject infrastructure, capabilities and reach that should meaningfully accelerate our direct sales efforts. Second, this transaction enables immediate access to a qualified source of tariff-free solar panels that we plan to market adjacent to our flagship IBC solar panels, allowing us to replicate in the U.S. market the ‘better-best’ product strategy we have successfully employed in our international markets for years,” Mulligan said at the time.
Maxeon is planning a 3.5-GW solar cell and panel factory in Albuquerque, New Mexico, that will make the Performance line of solar modules for the utility-scale market. The company is updating from PERC to TOPCon technology.
https://www.solarpowerworldonline.com/2023/11/maxeon-and-sunpower-will-no-longer-be-exclusive-starting-march-2024/
Tahoe2468
1 day ago
US announces $325 million in funding to boost Puerto Rico solar projects as power outages persist
FILE - A brigade from the Electric Power Authority repairs distribution lines damaged by Hurricane Maria in the Cantera community of San Juan, Puerto Rico, Oct. 19, 2017. A federal judge overseeing a drawn-out debt-restructuring process for the power company ordered all parties to mediation on Wednesday, July 10, in the latest attempt to break an impasse that has sparked widespread anger and frustration. (AP Photo/Carlos Giusti, File)
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BY DÁNICA COTO
Updated 7:35 PM CDT, July 18, 2024
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SAN JUAN, Puerto Rico (AP) — The U.S. government announced Thursday that $325 million in federal funds will be available for solar and battery storage installations across Puerto Rico as the U.S. territory struggles with chronic power outages.
The program, funded by the U.S. Department of Energy, will target community centers and healthcare facilities, as well as common areas in subsidized, multi-family housing.
“Households aren’t the only place you need power during and after an emergency,” said U.S. Energy Secretary Jennifer Granholm during a visit to Puerto Rico.
The announcement comes amid widespread anger over outages that repeatedly leave Puerto Ricans in the dark. The island of 3.2 million people has a more than 40% poverty rate and some cannot afford a generator.
Government officials say the outages also endanger the lives of those who depend on oxygen, refrigerated insulin and dialysis machines.
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Granholm on Thursday visited the southern coastal town of Santa Isabel, one of several towns in the area hit by a power outage in June that left 10,000 customers in the dark.
https://apnews.com/article/puerto-rico-granholm-solar-power-outages-20a5edc8f6f4b9743825460c9b6e1860
Tahoe2468
3 days ago
Maxeon getting nearly $200M investment from Chinese firm
By Ryan Boetel / Journal Business Editor May 31, 2024
+3
20230821-bizo-solar-5
Maxeon Solar Technologies CEO Bill Mulligan discusses the company’s planned $1 billion investment in a manufacturing facility at Mesa del Sol during a press conference with the governor and other public officials on Aug. 11.
Jon Austria / Journal
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20230811-news-ja-bizsolar-02.JPG
Maxeon Solar Technologies employees, city, county and state representatives and community members mingle during an event at the Aperture Center at Mesa del Sol in Albuquerque on Friday.
Jon Austria / Journal
20230811-news-ja-bizsolar-03.JPG
New Mexico Gov. Michelle Lujan Grisham speaks at the Aperture Center at Mesa del Sol in Albuquerque on Friday.
Jon Austria / Journal
Maxeon Solar Technologies rendering
A rendering of Maxeon Solar Technologies’ future manufacturing site at Mesa del Sol.
Courtesy of Maxeon Solar Technologies
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The company behind a more than billion dollar manufacturing project in Albuquerque is being investigated for violating federal securities laws, has seen a drop in stock value, delayed releasing its recent quarterly financial reports and now has received a significant investment from a Chinese company to help the company’s balance sheet.
Maxeon Solar Technologies officials said they remain committed to the project, and the company previously said it plans to break ground in the second half of 2024. The company’s CEO said it is making progress on restructuring initiatives.
“Maxeon has been facing a very difficult market environment since the third quarter of last year,” Maxeon CEO Bill Mulligan said in a Thursday news release. “These external factors led to underutilized manufacturing operations, increased product costs, and lower revenue and profit than planned.”
TCL Zhonghuan Renewable Energy Technology Co. Ltd., TZE, Maxeon’s largest shareholder which is based in China, agreed to invest $97.5 million via a debt investment and an additional $100 million equity investment, Maxeon announced Thursday.
“We believe that these transactions are necessary to provide sufficient liquidity to enable the company to return to profitability,” Mulligan said in the release. “These transactions, however, will result in substantial dilution to existing public shareholders, with TZE ultimately becoming a controlling shareholder, subject to regulatory approvals.”
Bruce Krasnow, a spokesman for the New Mexico Economic Development Department, said the state has a long history of partnering with foreign companies on projects. He gave five recent examples, which included three companies headquartered Taiwan, a Mexican company and an Australian company.
“EDD has pursued Foreign Direct Investments into New Mexico to help global companies diversify manufacturing and supply chains, to diversify our economy, and create jobs for New Mexicans,” he said.
In August, New Mexico and Maxeon officials gathered in Mesa del Sol to announce that the company was going to make an immediate $1 billion investment to build a 1.9 million-square-foot manufacturing facility in the master-planned community in south central Albuquerque. Once completed, they said, it would change the landscape of domestic solar cell manufacturing in the U.S. by onshoring production.
Construction was originally supposed to begin in early 2024, and the facility was expected to go online in 2025, according to the governor’s office.
The company is expected to receive a significant amount of public money over the coming decades, which state officials said was critical in recruiting it to New Mexico. Those government incentives could total more than $600 million over the next two decades, state officials previously have said.
The public support was expected to include $20 million in Local Economic Development Act funding, hundreds of millions of dollars in industrial revenue bonds and rebates on gross receipts for construction, plus additional incentives.
Krasnow said the LEDA money has been transferred to the city of Albuquerque for administration, but there have been no disbursements to the company yet.
“It’s not unusual for large industrial projects to take longer than expected, so please reach out to (Maxeon) for an update,” he said.
Meanwhile, Maxeon stock has dropped in value significantly in the past year. Its 52-week high was $32.58 per share, and its 52-week low was $1.71 per share. The company’s stock was trading at $2.02 on Thursday.
The Albuquerque manufacturing site would be the fruition of a key goal of the federal Inflation Reduction Act, which President Joe Biden signed into law in 2022. One of the goals of the law was to recruit major solar-cell manufacturers away from competitor countries to build sites here.
“These are some serious red flags and New Mexico’s elected officials should be demanding real answers before sending millions down this road,” said Larry Behrens, the communications director for Power the Future, a fossil fuel advocacy organization. “This is the biggest problem with the Inflation Reduction Act, taxpayers are on the hook for footing costs with little to no guarantee we will see the promised results. This is just more evidence to prove the green industry can’t stand on its own without massive handouts paid for by hardworking New Mexicans.”
Maxeon earlier this month announced it received a noncompliance notice from Nasdaq for delaying the release of its annual report. This week, two shareholder rights law firms announced they were investigating the company for potential violations of federal securities laws.
A Maxeon spokesman said in an email that the company remains committed to the Albuquerque project, and that it has been managing the complicated process of building an advanced manufacturing factory in an empty field.
“That work continues, and we are committed to meeting the demand for solar energy in the United States by providing more products made in the U.S., especially for the growing utility-scale market,” the spokesman said. “Market conditions necessitate, however, a deliberate approach to realizing this goal, along with policies that crack down on cheap imports and protect Intellectual Property.”
https://www.abqjournal.com/business/maxeon-getting-nearly-200m-investment-from-chinese-firm/article_4a32bb74-1dd1-11ef-a1eb-0befd514fb48.html
Tahoe2468
3 days ago
Albuquerque City Council approves $2.4 billion solar manufacturing plant
Laila Freeman
8 months ago
ALBUQUERQUE, N.M. (KRQE) – City councilors have paved the way to build a massive solar manufacturing facility in Mesa del Sol.
The council voted on a number of measures in support of the company Maxeon Solar Technologies investing $2.4 billion in a manufacturing plant.
10 films you might not know were filmed in New Mexico
The plant will manufacture photovoltaic cells and assemble them into solar panels, something Maxeon claims sets them apart since other U.S. companies import those cells from overseas.
The plant is expected to employ 1,500 people and create 2,000 construction jobs in the coming years.
City and state leaders said the project promises a major economic boost for Albuquerque and the state.
Maxeon said the plant is expected to be operational by 2025.
Categories: Albuquerque News, Home, Latest News, News, Top Stories, Video
Tags: Albuquerque, New Mexico, Social
https://www.krqe.com/news/albuquerque-metro/albuquerque-city-council-approves-2-4-billion-solar-manufacturing-plant/
Tahoe2468
3 days ago
I’m old I’m bored if I can remember I’ll call tomorrow to investigate and see if any permits pulled to start building it! LOL UNLESS SOMEONE ONE HERE SMARTER THAN ME COULD FIGURE IT OUT ON THE WEB AND POST YOUR FINDINGS LOL
Maxeon Solar Technologies to build $1B New Mexico solar panel factory
The 160-acre site will be the Singapore-based company’s first U.S. facility, spurred in part by the Inflation Reduction Act.
Published Aug. 11, 2023
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Kate Magill
Lead Editor
A rendering of Maxeon Solar Technology's planned solar panel factory in Albuquerque, New Mexico.
A rendering of Maxeon Solar Technologies’ planned solar panel factory near Albuquerque, New Mexico. Courtesy of Maxeon Solar Technologies
First published on Manufacturing Dive
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3 min
Dive Brief:
Maxeon Solar Technologies will build a $1 billion, three-gigawatt solar panel factory in Albuquerque, New Mexico, the company announced yesterday.
The plant will be the Singapore-based manufacturer’s first production facility in the U.S., and it will create 1,800 jobs.
The company plans to produce utility-scale and rooftop panels meant for residential and commercial use. Construction on the 160-acre site is expected to begin in Q1 2024, with production slated for 2025.
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Dive Insight:
Maxeon plans to bring the first large-scale solar panel and cell factory to New Mexico, adding to the company’s manufacturing footprint across Mexico, Malaysia and the Philippines.
Like many foreign manufacturers that have announced U.S. facilities in the past year, Maxeon executives credited the Inflation Reduction Act with enticing them to invest in the country.
“The Inflation Reduction Act has catalyzed a new chapter in America’s energy transition. Our new solar cell and panel facility in New Mexico is an ambitious and concrete response to the need to decarbonize the U.S. economy while creating permanent highly-skilled local manufacturing and engineering jobs,” Maxeon CEO Bill Mulligan said in a statement. “We expect the new plant will also serve as an anchor to attract further regional investment in the solar supply chain.”
New Mexico expects the project to bring $4.2 billion to the state over the next 10 years.
Maxeon is building its new plant as it experiences major growth. The company’s Q2 revenue grew 46% YoY, which Mulligan attributed to increasing exposure to the U.S. utility-scale sector during a Thursday earnings call.
“Due to strong customer demand and the anticipated availability of sufficient infrastructure at the New Mexico site, we are evaluating the option of upsizing the scale of our U.S. factory by approximately 50% to a nameplate capacity of 4.5 gigawatts,” the CEO told investors.
Maxeon is now applying for a loan for the project from the Department of Energy’s Clean Energy Financing Program, which supports deployment and infrastructure initiatives to reduce greenhouse gas emissions.The company did not disclose the size of the loan but noted that site selection is a key step in the application process.
Tahoe2468
3 days ago
New Record-Setting Solar Panel Is the Most Efficient of Its Kind
Find out when Maxeon's new solar panel will be available to rooftops in the US.
Article updated on April 3, 2024 at 9:32 AM PDT
Solar panels on a roof.
Maxeon 7 solar panels -- not pictured here -- set a new standard for residential solar panels.
Getty Images
For years, Maxeon has manufactured some of the most efficient solar panels for residential applications. Now it's set a new efficiency record with the Maxeon 7 residential solar panel: 24.9%. The figure was confirmed by the US National Renewable Energy Laboratory.
The new benchmark serves "to set the pace for the entire solar industry," Matt Dawson, Maxeon's chief technology officer, said in a statement in March. The most efficient residential solar panels available today have maximum efficiency marks that top out around 23%.
In real-world situations, Maxeon expects, its panel will be 24.1% efficient, according to the panel's spec sheet. Environmental factors, like fluctuating temperatures, affect solar panel efficiency.
Tahoe2468
3 days ago
Not to beat a dead horse, but how is this company sitting at $.24 right now is beyond me!!!!!
Best overall: Maxeon 7
The new most efficient residential solar panel is the Maxeon 7, which unseated older Maxeon and Canadian Solar panels. Maxeon has led the industry in solar panel efficiency for some time, and its newest offering had its record-setting efficiency mark confirmed by the National Renewable Energy Laboratory. The 24.9% efficiency recorded in lab settings translates to about 24.1% in more realistic settings -- essentially, what'd be recorded if they were tested on your rooftop. There's one catch for American solar shoppers: It won't be available outside of Europe until late 2024.
While nearly 25% is an eye-catching number, experts have told us that fixating on efficiency isn't always the way to go. You'll want to consider the whole output of a solar panel system and its total cost, not just the specs of an individual panel. Small jumps in efficiency might not be worth major leaps in your project costs, especially considering your price will be multiplying based on your solar panel system size. And you may not want to wait for better or cheaper options, although solar tech keeps improving and installation costs are trending down. Still, if you have limited space -- such as a small roof or a lot of shading -- highly efficient panels could make sense. Here are those that perform the best.
What is solar panel efficiency?
Solar panels may all seem basically the same, but they're different in at least a few ways. One of those ways, efficiency rating, measures how much of the sun's energy a panel's solar cells turn into usable electricity. More efficient solar panels will generate more electricity than less efficient ones given the same amount of sunlight.
Can solar panels save you money?
Interested in understanding the impact solar can have on your home? Enter some basic information below, and we’ll instantly provide a free estimate of your energy savings.
https://www.cnet.com/home/energy-and-utilities/most-efficient-solar-panels/
WolfWayne
3 days ago
A brief history regarding SunPower and Maxeon Solar Technologies for those so inclined:
**1985** SunPower is founded by Dr. Richard Swanson, a professor of electrical engineering at Stanford University.
**2005** SunPower goes public, trading on the NASDAQ under the ticker symbol SPWR.
**2014** SunPower acquires the solar panel manufacturing business of AU Optronics, which later becomes part of Maxeon's manufacturing operations.
**November 2019** SunPower announces plans to spin off its solar panel manufacturing business into a new entity called Maxeon Solar Technologies. This move is intended to allow SunPower to focus on its energy services and solutions.
**August 2020** Maxeon Solar Technologies officially spins off from SunPower, becoming an independent publicly traded company on NASDAQ under the ticker symbol MAXN. The spin-off includes Maxeon Solar's manufacturing operations and solar panel technology
**July 2023** Maxeon pauses shipments to SunPower** due to contract disputes. This marks a significant disruption in their business relationship, affecting both companies' operations and financials
**April 2024** SunPower announces significant restructuring measures, including the closure of several business units and a workforce reduction of about 26% due to slower-than-expected market recovery and financial misstatements. This restructuring impacts Maxeon, leading to its own workforce reduction and manufacturing changes
**July 18, 2024**: SunPower halts operations as part of its broader restructuring efforts, affecting approximately 25% of Maxeon's revenue, which was derived from SunPower purchases.
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