Boston, MA 05/22/2014 (wallstreetpr) – SunPower Corporation (NASDAQ:SPWR) is part of the disruptive solar energy technology that is causing sleepless nights in the fossil world. The $5 billion market capped energy company is best known of late for its provision of solar energy solutions at both large and small scale levels.
In addition to generating solar energy and building solar farms on contract to customers that need to take greater control of their power bills, SunPower wants to do more. The company is considering adding storage to its solar energy offering. And on that note, Australia is the marked.
The company wants to increase its global presence in solar offering and storage and undertaking its storage business in Australia makes a whole lot of business sense because of the countries big energy needs and good energy prices.
SunPower CEO tells the story
In a recent interview, in Sydney this week, SunPower Corporation (NASDAQ:SPWR) CEO Tom Werner spared no effort to talk about his company’s aspiration in solar energy market. First and foremost, the CEO likes the idea that solar is the disruptive energy technology that is causing the incumbent fossil fuel serious headache.
The fact that solar energy can be made cheaper than other energy sources and the fast-pace at which the world is shifting to renewable energy sources, present great opportunities for the company, the CEO said.
However, in order for SunPower Corporation (NASDAQ:SPWR) not to be like any other player in the solar energy market, the company seeks to provide its customers at all levels with solar energy storage solutions that will take energy management to the next level.
The company looks to Australia where it intends to undertake a pilot project in solar energy storage. The CEO observed that Australia has exceptional solar resources and high electricity costs, and the combination of these attributes makes the market compelling for SunPower Corporation (NASDAQ:SPWR).
In any case making quick inroads in emerging markets, will help the company to thwart competition from Chinese rivals that are growing as fast in the solar business.
Financial performance
SunPower Corporation (NASDAQ:SPWR) is a positive performer. The company reported a profit of $0.49 per share in its 1Q2014, beating consensus estimate of $0.32.
