Dive Brief:

• Solar manufacturer SunPower is focusing on integrating energy storage with its solar panel systems, company officials said during an earnings conference call with analysts.
• The U.S. residential market is strong. The company shipped about 48 MW of residential and light commercial solar in the fourth quarter and now has more than 20,500 solar leases.
• The company offers tailored financial options for its customers and expects more financial innovation.
• SunPower reduced its photovoltaic costs by 20% last year and financing costs are falling, too.
• SunPower has a roughly 6,000 MW project pipeline worldwide and expects to complete about a quarter of it.

Dive Insight:

SunPower, the second largest PV maker in the U.S., had a banner year in 2013. In a key sign that solar is taking off, SunPower sees an improving financial environment. The company recently reached a $220 million agreement with Bank of America to support solar leasing.

“Appetite in the tax equity market is strengthening and we are seeing significant interest from not only financial institutions but also from the Fortune 500 companies,” Charles Boynton, Sun Power CFO, said. “We no longer see financing capacity as a significant bottleneck to growing our business.”