Sunpower Corporation’s Revenue Breakdown (2016-2022)

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This statistic highlights SunPower Corporation’s Revenue Breakdown, split between: Residential Leasing, Solar Power Systems, Components and Other, and Solar Services, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights SunPower Corporation’s Revenue Breakdown, split between: Residential Leasing, Solar Power Systems, Components and Other, and Solar Services, reported on a quarterly basis from Q1 2016 onwards.

SunPower Corporation is a provider of distributed generation storage and energy services. The Company offers solar plus storage solutions.

SunPower Corporation’s Revenue Breakdown:

 Revenue by Segment  Q3 2020  Q2 2021  Q3 2021 Revenue Contribution in Q3 2021
Residential leasing 1.28 1.35 1.29 0.4%
Solar powers systems, components and other 303.4 303.4 318.6 98.4%
Solar services 5.9 4.16 3.73 1.15%
Total 274.8 308.9 323.63 100%

(All figures in millions, except percentages)

SunPower Corporation’s total revenue grew from $274.8 million in Q3 2020 to $323.63 million in Q3 2021, marking a 17.7% increase on a year-on-year basis. It also increased by 4.7% compared to $308.9 million earned in Q2 2021. Solar powers systems, components and other account for 98.4% of the revenue which is highest of all the segments. Residential leasing accounts for only 0.4% of the revenue amongst all the segments, which is the lowest of all.

SunPower Corporation’s total revenue is further bifurcated into the following segments:

Residential leasing

Residential Leasing refers to the revenue generated from houses that are using SunPower’s services. Revenue from this segment increased from $1.28 million in Q3 2020 to $1.29 million in Q3 2021. Loss on sale and impairment of residential lease assets decreased by $0.4 million during the three months ended October 3, 2021, as compared to the three months ended September 27, 2020, primarily due to the sale of a portion of on – balance sheet residential lease portfolio in the second quarter of fiscal year 2021, and no impairment deemed necessary in the current quarter on the remaining portfolio.

Solar powers systems, components and other : 

This revenue generated from this segment majorly comprises of the Solar Power systems that the company sets up in various residential and commercial areas. The other segment includes some more non-specific energy services. Revenue from Solar powers systems, components and other increased from $303.4 million in Q3 2020 to $318.6 million in Q3 2021. They account for the highest revenue amongst all the segments. Revenue for the segment decreased by 58% during FY 2020 as compared to FY 2019, primarily due to the winding down of their worldwide power plant project development and project sales, as well as U.S. manufacturing.

Solar services :

In collaboration with third-party financial institutions, the company offers solar services that allow their home clients to have continued access to SunPower solar power systems for up to 20 years. Revenue from Solar services has decreased from $5.9 million in Q3 2020 to $3.73 million in Q3 2021.  Solar services revenue is generally made up of revenue from contracts in which the company supplies third parties with continuous access to an operational solar system.

About SunPower Corporation

SunPower Corporation is a major solar energy company that offers a variety of hardware, software, and finance choices, as well as “Smart Energy” solutions, to clients primarily in the United States and Canada. Their Smart Energy effort aims to add levels of intelligent control to homes, buildings, and grids, all of which can be customized using simple user interfaces. They are a market leader in the downstream Distributed Generation (“DG”) sector in the United States, offering residential and business customers an affordable and sustainable alternative to traditional utility energy through a variety of financing alternatives. Their sales channels include a strong network of dealers and resellers in both the residential and commercial markets, as well as a group of competent and motivated in-house sales teams engaging in direct sales to end customers within each segment. SunPower Corporation is delivering energy services to homeowners, businesses, municipalities, schools, and utilities financial benefits through a variety of options.

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