At-a-Glance:
The new CEO of SunPower Corp. – a veteran of Amazon.com Inc. – wants to make the rooftop solar-buying process easier for homeowners. in an interview Wednesday. “Until we make getting solar as simple as buying a book on Amazon, we’re not going to stop,” SunPower Chief Executive Officer Peter Faricy said. To learn more, read “New SunPower CEO Wants Buying Solar as Easy as Amazon Purchases.” Reading this article may require a subscription from the news outlet.
Key Takeaways:
- Interest in residential solar is surging in the U.S. with climate change a threat to the power grid, however, only about 3% of the country’s homes are equipped with panels.
- Rooftop-solar companies attribute market penetration to lengthy permitting processes and low-tech sales techniques.
- SunPower’s new CEO, Peter Faricy, who spent 13 years at Amazon.com, thinks the solar business is ripe for digital innovation.
- SunPower deployed 77 megawatts of residential solar in the first quarter, up from 70 megawatts during the same period last year.
Path to 100% Perspective:
Solar energy generates only about 2% of Earth’s electricity today, it is projected to generate 22% by 2050. Electric utilities and governments across the world are moving towards 100% carbon-free energy. To succeed, they need to not only increase renewable generation, but also to rapidly reduce the use of fossil fuels. Renewables and storage alone cannot rapidly decarbonize power systems fast enough. Optimizing power resources, renewable energy and future fuels is the way to pave the Path to 100%.