US Solar Panel Consolidation: TJ Rodgers Key Player

The US solar industry is abuzz with news of a major takeover led by TJ Rodgers, the founder of Cypress Semiconductor. Rodgers recently assumed the role of CEO at Complete Solaria and is now spearheading the acquisition of competitor SunPower for a hefty sum of $45 million in cash. This strategic move comes at a time when the US government is offering substantial grants totaling $7 billion for the widespread installation of solar panels across the nation through various state organizations.

"I took on the role of CEO at Complete Solaria for what I believe are humanitarian reasons. At 76 years old, I felt compelled to step in and nurture this industry, which I see as a crying, CEO-less baby left on my doorstep," expressed Rodgers. He further added, "The transition from my previous silicon-focused world to the solar industry has been both challenging and invigorating, blending technological intricacies with the raw realities of economic survival."

Complete Solaria, a company formed from the merger of Complete Solar and Solaria in 2022, has been making waves with its innovative 'pure black' 400W solar panels. These panels, produced at a semiconductor plant in Lehi, Utah, boast advanced technology that eliminates dead spots and failure points, offering enhanced shade performance. The company's acquisition of Utah-based solar panel installer Core Energy, backed by Rodgers' personal investment of $18 million, has further solidified its position in the market.

Meanwhile, SunPower, a key player in the solar energy sector, recently spun off its panel manufacturing division as Maxeon Solar Technologies. Complete Solaria is now set to acquire SunPower's installation business following a Chapter 11 filing. The alignment of these two companies through shared assets and strategic moves signals a significant shift in the solar energy landscape.

"The proposed transaction with Complete Solaria presents a unique opportunity for key aspects of our business to thrive under new ownership," remarked Tom Werner, Executive Chairman at SunPower. Rodgers echoed this sentiment, stating, "We are excited to welcome new additions to the Complete Solaria family, including Blue Raven Solar and SunPower's Dealer network. This acquisition will reinforce our market position and drive our mission of advancing clean, reliable energy solutions."