Solar services company SunPower Inc. is expanding its Texas operations through the acquisition of project assets from Houston-based Greenlight Solar and a new strategic partnership with Fort Worth-based SOLRITE Energy.
The expansion is intended to strengthen SunPower's residential solar and battery storage business while accelerating its virtual power plant (VPP) operations. These systems connect distributed batteries, so stored electricity can be dispatched or sold into power markets, potentially creating an additional revenue stream for participating homeowners and project partners.
SunPower said the Greenlight acquisition adds local installation capacity and experienced personnel. Greenlight CEO James Garrett will lead SunPower's U.S. installation group, according to the announcement.
How will the SOLRITE partnership work?
SOLRITE will provide solar project financing and connect eligible battery systems to its virtual power plant solution. SunPower will contribute customer acquisition, solar installation services and long-term warranty support.
The companies aim to combine financing, installation and battery aggregation into a broader residential energy offering. Under the model described by SunPower CEO T.J. Rodgers, revenue from electricity sales through the VPP can be shared with homeowners and engineering, procurement and construction partners.
SunPower Executive Vice President of Direct Kapil Rai said the partnership provides a path to combine customer acquisition, solar and storage development, and financing as the company develops its VPP business in Texas and other markets.
VP Kapil Rai: "Building our VPP business is a key part of SunPower’s growth strategy going forward. Our partnership with SOLRITE gives us a path to bring together customer acquisition, solar, storage deployment, and financing to develop this business in Texas and beyond."
The announcement did not disclose the financial terms of the Greenlight asset acquisition, the number of projects involved or a timeline for deploying additional battery systems.
Why is Texas important to SunPower?
SunPower described Texas as one of the country's most compelling solar growth markets, citing opportunities to expand residential installations and connect distributed energy resources to electricity markets.
Battery storage can allow participating customers to store electricity for later use or market dispatch, depending on system configuration and program requirements.
