SunPower Seeks to Jump on EV Bandwagon With Carmaker Deals

(Bloomberg) -- SunPower Corp. is the latest solar company seeking to secure its share of a potentially huge market for electric vehicle-charging solutions in the U.S. 

The San Jose, California-based residential solar installer is exploring partnerships with “almost every automaker” to introduce vehicle-to-grid integrations, Chief Executive Officer Peter Faricy said in an interview on Wednesday. 

Consumer interest in home power generation and battery storage has surged on the back of rising prices for natural gas and the increased frequency of extreme weather events. Vehicle-to-grid solutions seek to allow drivers to charge their cars with rooftop solar energy and use the car battery to power the home when the sun isn’t shining or when there’s a power outage. 

In May, Sunrun Inc. partnered with Ford Motor Co. to become the installer of home charging and residential energy integration systems for the F-150 Lightning. The new Ford truck serves as a backup home power source and can supply electricity during blackouts. 

Last month, Sunnova Energy International Inc. inked a deal with ChargePoint Inc., an EV charging company, that will give Sunnova customers the option to install in-home EV charging stations. 

©2021 Bloomberg L.P.