The other aspect of a warranty that needs to be considered when researching solar is the health of the company you are buying from – as a solar manufacturer that goes out of business cannot fulfill the stipulations of the warranty they sell. What we know about the solar business is that many companies, both manufacturers and installers, have come and gone since the beginning, and with the ups and downs in the industry that come with government incentives coming and going, there doesn’t seem to be an end in sight for that pattern. So choosing a manufacturer that will be in business that is financially healthy, and therefore will be in business for the long run, is now as important as ever.
When you look at SunPower’s financial health, they have been on solid ground for quite a while. SunPower is a public company and its present market cap (value) is $1.9 billion with 6,600 employees. Also, while the company’s stock did bottom out around 2017, it has gone up over 100% in 2019 alone. So clearly, professional investors are optimistic about SunPower, and with their brand being internationally associated with quality and high efficiency, you can rest assured that they will be around for the long run.
While it is hard to find financial information on Solaria as they are a private company, they did publish a press release recently that states that they are now subcontracting out the production of about half their panels to a Chinese company called Shingsung E&G’s. So Solaria as a manufacturer is now not even producing half of their panels. That is an indication that the company can not handle the scale of production required to keep up with the demand, which is an indicator of unhealthy financials and management.
So as you can see, when comparing SunPower and Solaria solar panel systems, SunPower panels have better efficiency, less power degradation, and a better warranty that is backed by a healthier company. So homeowners who are looking to get the most power out of their roof for longer, and a system that has all elements of it warranted by a financially stable company, should choose SunPower. Contact us today if you’d like a quote on aSunPower system for your home.