We recently announced that SunPower is separating into two independent companies: SunPower and Maxeon Solar Technologies. These two new entities will focus on different ends of the photovoltaic (PV) solar market. SunPower will remain one of North America's leading product manufacturers, innovators and solutions providers of PV solar systems for homes and businesses as well as a supplier of Equinox™ solar storage. Meanwhile, Maxeon Solar will be a top global innovator, manufacturer, and marketer of premium solar panels. The separation means that SunPower can zero in on what it does best -- helping residential and commercial customers get the most efficient PV solar systems money can buy.
SunPower's industry-leading Complete Confidence Warranty will remain in full force for legacy PV customers. And, under a tight-knit relationship with Maxeon Solar, SunPower will continue to provide homeowners a comprehensive system offering from a single source, complete with the same industry leading warranty we provide today. Further, there won't be pass-through warranties to other companies. SunPower will continue to cover each system, including the power that system generates, for 25 years.
SunPower’s warranty reflects its confidence in part because we've built a strong dealer network that includes Master Dealers, a select group of installers who are not only invested in their communities, but who've shown they know how to set the industry pace for installation, training, and customer satisfaction. These dealers know the systems they're installing and, more importantly, also value their rapport and standing with customers.
SunPower's new chapter will begin in 2020, at a time when homeowners and businesses are embracing solar like never before. The cost to install PV solar panels has dropped more than 70 percent in the last decade and is expected to keep falling. That and other factors -- like federal policy – should ensure stability and growth across all markets through 2021 at a minimum. People want best-in-class, cost-efficient, clean energy, and they know SunPower can provide it.