SunPower Corp SPWR shares are shooting higher Wednesday morning after the company announced that it will now offer Tesla Inc’s TSLA Powerwall 3 as part of its portfolio of solar and storage products.
What To Know: SunPower said it has added its most-requested battery storage product to its lineup with the addition of Tesla’s latest Powerwall offering.
SunPower projects that one in every four American homeowners who install rooftop solar this year will also add battery storage. The company noted that Tesla Powerwall has become one of the most sought-after battery storage solutions, accounting for more than half of home battery installs last year.
“Homeowners are increasingly turning to battery storage to protect themselves against ongoing utility rate hikes and grid outages. We witnessed record-breaking battery storage sales in 2024 and see a future where almost all solar systems are paired with storage,” said Shawn…
