Boston, MA, 04/08/2014 (usastockreports) – SunPower Corporation (NASDAQ:SPWR) installed 149 kilowatt solar power system on the rooftop of stores and warehouses of Watershed Premium Wines (Watershed) In Australia. Watershed expects to reduce electricity use by 30% and saves AU$79,000 per year from solar installation. So, cost effective clean energy will make a difference for companies that usually require high energy to operate their business. It improves their profitability by reducing their operating expenses. These will open opportunities for SunPower to supply solar solutions to winemaking companies.
Clean energy market
Clean energy is now represents ~8.5% of total generating capacity worldwide and expects to increase further. In 2013, clean energy sources comprise nearly 44% of new installations that imply there are plenty of opportunities to grow across different businesses including wine making. But, Global investment across renewable energy was down in last two years except solar energy. It is believed that solar energy continues to drive the market due to a reduction in prices. Companies like SunPower Corporation (NASDAQ:SPWR) will make money from clean solar energy with increasing demand in both commercial and residential use.
The industry believes that North America is the strongest market. The growing demand of solar energy installations in both residential and commercial sector will drive growth opportunities in the U.S. The Company believes that there is strong momentum in the residential business.
In Europe, rooftop business drives the market for SunPower and expects to continue further. The partnership with its major stakeholder Total SA for Chile and South Africa will help them to expand their operations in EMEA regions.
In addition, Japan represents 24% of total company’s shipments in 2013 that includes more than 110MW power plants projects for industry solar power technology. So, SunPower expects strong demand in Japan both from industry and residential business.
SunPower Corporation (NASDAQ:SPWR) will benefits from power plant financing structure as Yieldco for its commercial projects. Total provides financial support for solar projects in the U.S. along with $220 million support from the bank of America to finance residential solar leases. SunPower will experience earnings pressure at lower energy prices; but, strong demand across markets will support revenue.