Sunpower Powers Along

While the global economic crisis is putting pressure on every industry, even the renewable energy sector, some solar panel companies continue to perform very strongly.

Sunpower Corporation recently announced the generation of fourth quarter 2008 revenue of USD $401 million, up 79% year-on-year. For the 2008 fiscal year, Sunpower recorded revenue of USD$1.43 billion, up 85% on 2007.

The company, with over $436 million in cash and investments, also announced two multi-year agreements with European integrators totalling 230 megawatts and said it added more than 350 residential and small-commercial dealers around the world during 2008.

Sunpower expects the fiscal year of 2009  to generate revenue of  USD $1.6 billion to $2.0 billion, but advised that given the continuing poor credit environment, its ability to meet the high-end of projected revenue will be dependent on improved access to the project financing markets.

According to Sunpower’s CEO, Tom Werner, even given the challenges posed by the tight credit market, long term solar market fundamentals remain in place and the company is encouraged by the commitment to renewable energy by President Obama.

SunPower delivers high-efficiency solar energy solutions for residential and commercial applications. Sunpower solar panels are up to 50% more efficient than many competitor brands. With a small footprint offering  more solar power with less space required, Sunpower panels can make good use of what’s becoming becoming a valuable selling point of homes – rooftop real estate.