When I joined SunPower as CEO nearly 18 years ago, our company — and the world — looked much different. Mass adoption of renewable energy was a pipe dream. Solar panels were associated only with fringe environmentalists and off-gridders. We had to fight tooth and nail just for a conversation. But I was thrilled for the opportunity to help mainstream something I cared so deeply about and to take on the operational and engineering challenges of transforming a niche, specialty products provider into an industry leading solar manufacturer and service provider.
I look around today and SunPower stands atop an industry that is 70 times as large. Solar adoption among consumers and businesses is soaring. In many cases, the cost of solar is now lower than power from the grid — and as that grid struggles — new offerings like battery storage and energy management software are becoming necessity.
I’m proud of the work we have done as a company and industry, and there is still so much more to achieve.
The Next Chapter for Solar and SunPower
The white space in our industry is still enormous: only two percent of homes in the U.S. have solar. Two percent. We’ve just scratched the surface with battery storage. And it’s clear that as more people create and store their own power, they want seamless, intuitive software applications that give them control of their energy. We’ll need to reimagine the way we do business to meet customers where they are.
SunPower has the opportunity to usher in this new era of solar solutions, and after much reflection, I’m confident a new leader will take us there. I am delighted to announce that Peter Faricy will be joining the SunPower team as CEO starting April 19.
Introducing Peter Faricy
Peter is joining SunPower after a storied career where he held roles including VP of Amazon Marketplace and most recently CEO of Global Direct-to-Consumer for Discovery Inc. He has spent his career transforming consumer-sales as we know it, creating unique and exceptional customer experiences, accelerating innovation, and infusing operational rigor to bring companies to new heights.
In discussions with his former colleagues, it became immediately apparent how much he cares about company culture, including keeping a strong set of values and prioritizing employee engagement as well as diversity, equity and inclusion. He is passionate about our mission and thrilled to bring his skills to a company with a strong sense of purpose.
His “outsider” perspective will be important to help SunPower quickly capture untapped market opportunity and move with agility in an increasingly competitive market. Paired with the long tenure and extensive energy and technical experience of so many other talented people at SunPower, I see this new team as an unstoppable force.
I look forward to working with Peter and the SunPower board of directors during the transition, but also to stepping back a bit. I plan to enjoy spending time with my three young grandchildren, investing in purpose-driven companies, and finding new ways to create a diverse and equitable future for the next generation.
Peter is the right person to lead SunPower. With him at the helm, along with our incredibly talented and passionate team, dedicated partners and investors, and loyal customers, SunPower is well positioned to lead our industry and to change the way our world is powered.