SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, today announced it is teaming up with Wallbox, a leading provider of electric vehicle (EV) charging solutions, to make the switch to an electric lifestyle more convenient, affordable, and sustainable. Through the strategic alliance, new SunPower customers can opt to install a Wallbox home EV charger at the same time as their solar and/or storage system installation. SunPower will also act as a preferred solar and storage provider and EV charger installation provider for Wallbox customers.
Consumer adoption of EVs and solar energy is growing rapidly. Deloitte predicts that EV sales are expected to grow from 2.5 million in 2020 to more than 31 million by 2030, accounting for approximately 32 percent of new car sales. Following record growth in 2020, Wood Mackenzie predicts residential solar installations will grow 18 percent in 2021 alone. With strong consumer overlap — nearly 40 percent of EV drivers also have solar — SunPower and Wallbox will help meet growing demand for these products by integrating EV infrastructure into solar equipped homes.
"SunPower is committed to simplifying solar and storage; extending that to electric vehicle adoption is a natural next step," said Peter Faricy, SunPower CEO. "As customer needs continue to evolve and expand, SunPower will develop and deliver the energy services needed to help meet them. Through our industry-leading products, best-in-class partnerships, and dedication to customer service, SunPower is making it easy and affordable to power our changing world with renewable energy."
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To travel 100 miles, the average EV requires the same amount of electricity an average American home uses each day to run appliances, computers, lights, heat and air conditioning, according to Pew Research. With approximately 80 percent of car charging happening at home, leveraging solar power to charge an EV — rather than powering it with energy generated from fossil fuels — is more environmentally friendly, reduces strain on an already taxed grid, and can help homeowners reduce electricity costs.
For SunPower customers interested in installing a Wallbox charger, SunPower will assess the user's home and electrical system to ensure it is compatible with home EV charging. Wallbox's Pulsar Plus chargers come with a standard J1772 EV plug, an app allowing scheduled charging, and power sharing for two or more chargers with adjustable current output, making them a fit for all EV models.
As a preferred installer for Wallbox, SunPower expects to provide EV charging station installation services for Wallbox customers in regions where SunPower has installers and plans to expand its installation capacity in North America. EV charging customers without solar will also have the opportunity to add solar or storage to their homes through SunPower.
SunPower and Wallbox are currently exploring options for developing products and experiences to further integrate solar power with EV. Current discussions include backup power solutions and incorporating Wallbox's pioneer bi-directional charging technology into SunPower systems.
"Making charging at-home easier and less expensive has always been core to Wallbox's vision. Our alliance with SunPower will further enable us to achieve this goal and support rising EV adoption," said Enric Asunción, Wallbox CEO and co-founder. "Combining EV charging with solar power is the natural next progression for our two industries and will make EV's even more sustainable, not only benefiting our consumers but the planet."
Source: SunPower Corp.
Date: Jul 29, 2021
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