SunPower’s Q2 2023 net loss shrinks by 47% YoY
POWER & RENEWABLE ENERGY

SunPower’s Q2 2023 net loss shrinks by 47% YoY

SunPower Corporation narrowed its net loss to $33 million during the second quarter (Q2) of 2023, an improvement of 47% on a year-over-year (YoY) basis compared to losses of $62.3 million.

The company recorded a revenue of $463.85 million during Q2 2023, an increase of 11% compared to $417.77 million recorded during the corresponding period in 2022. The improvement in net loss and revenue increase can be attributed to the increased number of installations by the company during the period and higher bookings.

The total operating expense declined to $89.3 million, a 10% YoY decrease from $99.46 million. With 20,400 customers added in Q2, the company registered 3% YoY growth.

During the second quarter, SunPower released “SunVault,” an energy storage solution, for public availability. The offering includes a 19.5 kWh version and a configurable option of up to 39 kWh, providing a nearly 50% boost in energy storage capacity.

As a result, homeowners can now acquire a battery solution that offers enhanced savings and backup power capabilities. SunPower’s new homes business also achieved a record $108 million in bookings, representing 11% YoY growth in Q2, and the company completed its 100,000th New Homes Solar installation, which the company said is the highest among all solar companies.

SunPower Corporation narrowed its net loss to $33 million during the second quarter (Q2) of 2023, an improvement of 47% on a year-over-year (YoY) basis compared to losses of $62.3 million.The company recorded a revenue of $463.85 million during Q2 2023, an increase of 11% compared to $417.77 million recorded during the corresponding period in 2022. The improvement in net loss and revenue increase can be attributed to the increased number of installations by the company during the period and higher bookings.The total operating expense declined to $89.3 million, a 10% YoY decrease from $99.46 million. With 20,400 customers added in Q2, the company registered 3% YoY growth.During the second quarter, SunPower released “SunVault,” an energy storage solution, for public availability. The offering includes a 19.5 kWh version and a configurable option of up to 39 kWh, providing a nearly 50% boost in energy storage capacity.As a result, homeowners can now acquire a battery solution that offers enhanced savings and backup power capabilities. SunPower’s new homes business also achieved a record $108 million in bookings, representing 11% YoY growth in Q2, and the company completed its 100,000th New Homes Solar installation, which the company said is the highest among all solar companies.

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?