M+S Electric on new episode of The Punch List with Jonathan Scott

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Fernando and Jonathan Silver

There are a lot of cool things about working with the Property Brothers, and our boss Fernando learned first hand what kind of fun Jonathan can be when he helped to replace. He and cre leader Jeremy recently got to experience the glamour of being on film when they assisted Jonathan in changing out some older lighting at a appreciative homeoners residence.

Unfortunately due to the way the GuruHub.com formats their video, we can’t upload a copy of the episode here, but we can provide a link to it for you to check out: GuruHub.com/Punch-List-MS-Electric

 

 

 

SunPower Helix Storage Maximizes Value of Solar and Storage for Commercial Customers

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SunPower Helix

SunPower Helix Innovative Software Control Platform Intelligently Manages Solar and Battery Storage to Help Lower Electricity Costs

SAN JOSE, Calif., March 1, 2018 /PRNewswire/ —

SunPower Helix  Storage, a new storage solution that combines energy storage with intelligent software to manage electricity costs for commercial solar customers. An increase in manufacturing capacity and economies of scale have caused tremendous advancements in energy storage with costs dropping 73 percent since 2010 according to Bloomberg New Energy Finance. Integrating with SunPower’s existing commercial solar solutions, Helix Storage significantly reduces electricity expenses for customers while increasing the benefits of solar.

“SunPower has a decade of experience monitoring nearly 1.7 gigawatts of commercial solar projects to best understand how they perform, giving us a unique advantage when maximizing the value of a complete solar-plus-storage solution,” said Norm Taffe, SunPower executive vice president, products. “We’ve used these key learnings to develop an intuitive, reliable storage offering for our commercial customers, further maximizing the benefits of SunPower’s roof, carport and ground-mount solar solutions.”

The integrated Helix Storage solution from SunPower includes:

  • An intelligent software control system that predicts energy consumption from the grid and automatically dispatches stored solar electricity from the battery to lower demand charges
  • A best-in-class battery technology that is safe, reliable, and versatile to meet real-world conditions
  • Turn-key services to design, install, operate and maintain systems, ensuring a seamless customer experience

“With Helix Storage, SunPower continues to raise the bar with innovative energy solutions for its customers,” Taffe continued. “We’ve invested heavily in growing SunPower’s software capabilities to develop a more robust and flexible control platform, and are now applying that to manage solar and storage. Helix Storage uses predictive analytics to dispatch stored solar energy at times when electricity costs are highest, maximizing savings for our customers.”

Helix Storage is an extension of SunPower’s Helix solar offering, the world’s first turnkey commercial solar solution, available since 2015.

With more than 30 years of solar experience, SunPower has delivered reliable solar and storage solutions to business, government, and education customers throughout the U.S. For more on SunPower’s storage solutions, visit www.sunpower.com/storage.

About SunPower
As one of the world’s most innovative and sustainable energy companies, SunPower (NASDAQ: SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower’s more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.

FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projected product performance and expected cost savings. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: regulatory changes and the availability of economic incentives promoting use of solar energy, challenges inherent in constructing and maintaining certain of our large projects, competition and market conditions in the solar and general energy industry, and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent report on Form 10-K, particularly under the heading “Risk Factors.” Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

© 2018 SunPower Corporation. All Rights Reserved. SUNPOWER, the SUNPOWER logo and HELIX are trademarks or registered trademarks of SunPower Corporation in the U.S. and other countries as well.

 

SOURCE SunPower Corp.

Related Links

https://www.sunpower.com
http://newsroom.sunpower.com

SunPower divests NYC portfolio to Green Street Power Partners LLC

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sunpower sells project to Green Street Power Partners in NYC

STAMFORD, Conn., March 5, 2018 /PRNewswire/ — Green Street Power Partners, LLC (GSPP) announced it has purchased a portfolio of community solar projects all in Con Edison’s service zone, from SunPower. A 918-kilowatt rooftop project in Maspeth, Queens, will be the first completed featuring SunPower® Helix™ technology. The project was originated by SunPower dealer Accord Power, who is also providing development and engineering, procurement, and construction (EPC) services. Construction is set to begin April 1 and expected to be complete by late spring 2018. GSPP will own the system, highlighting the company’s increased focus on project acquisition.

“This project, along with the additional projects we are currently acquiring, will have a profound impact on our company while helping us achieve our goals of being a leader in community solar, and commercial and industrial solar markets,” said Scott Kerner, Co-Founder and CEO. “We are also thrilled about the next chapter in our collaboration with SunPower and its network of dealers, and are hopeful that these projects will be the first of many.”

The SunPower® Helix™ advanced technology which will be used for this 918-kilowatt rooftop solar system is expected to offset approximately 20,496 metric tons of carbon dioxide from the five boroughs over the lifetime of the system, the equivalent of preserving 167 acres of forest. The project will provide power to more than 150 homes in New York City.

“We are thrilled that Green Street Power Partners is taking a leadership position in helping to encourage development of reliable solar energy projects like this one featuring SunPower’s leading-edge solar technology,” said Nam Nguyen, SunPower executive vice president, commercial. “We look forward to building on this shared success in the future, bringing value to even more customers.”

About Green Street Power Partners, LLC

Headquartered in Stamford, CT, Green Street Power Partners (GSPP) finances, develops, owns and operates, 8MW of solar energy systems for businesses throughout the northeast. GSPP continues to experience rapid growth with 32 MW of commercial and community solar projects under construction. As they expand their solar coverage, GSPP consistently provides the best available solar technology coupled with an unwavering commitment to customer service. To find out more about Green Street Power Partners, visit greenstreetsolarpower.com.

 

SOURCE SunPower Corp.

How SunPower’s Making Itself Shine

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The biggest risks facing SunPower Corporation (NASDAQ: SPWR) in 2017 and early 2018 were the company’s bloated balance sheet and continuing losses. At the beginning of 2017, the company had $1.6 billion in debt and a $300 million convertible debt maturity looming in 2018, and was affected by uncertainty […]

SunPower’s sale of 8point3 Energy Partners (NASDAQ: CAFD) and the announced sale of residential-lease assets will simplify and strengthen the balance sheet. Here’s a look at how the company will look after these major sales.

SunPower’s transformative asset sales

There are two big asset sales that SunPower has in the works right now. The first is the sale of 8point3 Energy Partners, which will net SunPower about $350 million in cash when completed sometime this summer. The other is the sale of 45,000 residential leases, which will bring in about $200 million of cash proceeds and allow the company to sell or deconsolidate $436 million of debt currently on the balance sheet.

With the 2017 year-end balance sheet as a starting point, here is an estimate of what the balance sheet would look following the asset sale:

By summer, SunPower could be nearly net-debt-free, if it doesn’t increase spending in any other way. That means that based on 2017 adjusted EBTIDA of $189.7 million and a market cap of $1.07 billion, the company has an enterprise value/EBITDA of just 6.3.

The EV/EBITDA ratio is only a snapshot of value, and we need to consider that adjusted EBITDA fell 39.2% in 2017 and that management only guided to “positive EBITDA” in 2018. But if SunPower’s business shows improvement, the stock could be a good value after asset sales are completed.

Opening up options for the future

The numbers above are rough estimates and may vary depending on what SunPower chooses to do with its cash. But they imply that options will start opening up.

One move SunPower could make in 2018 is to increase manufacturing in areas where it’s cost effective to do so. P-Series solar panel production is already growing at a China joint venture from about 700 megawatts of capacity today to as much as 5 gigawatts in the next five years. The company also has a 641,000-square-foot facility in the Philippines that could serve as an expansion hub for next-generation solar cell manufacturing. Weakness in the balance sheet and a two-year buildout timeline made expansion difficult over the past year, but now could be the time to get aggressive in the high end of the market.

Another intriguing option: expanding P-Series manufacturing in its Mexico plant, in the booming Middle East market, or even in the U.S. Building capacity in P-Series costs only $0.05 to $0.10 per watt, and production uses commodity cells from other manufacturers, so this could be a good growth option in the popular power-plant market.

The other growth opportunity I expect SunPower to push in 2018 is energy storage. The company says it has a $60 million pipeline of U.S. commercial-storage projects, but it can make that business much bigger. Storage is starting to be economical with residential solar and can be a standard with commercial solar installations. Investing in both capabilities, such as software, and manufacturing capacity will be key in 2018.

A cloud is lifting over SunPower

As the balance sheet becomes less of a risk for SunPower, it should free up the company to invest in growth opportunities and allow investors to see the underlying value in the company. If SunPower can increase its adjusted EBITDA, I think the stock could be a big winner for investors, so keep an eye on the company’s execution in 2018.

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Travis Hoium owns shares of 8point3 Energy Partners and SunPower. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Live Feed from SpaceX’s Starman Cam

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