The clean energy transition has brought the entire U.S. energy landscape together, as companies are aware that the nation has objectives to meet. The U.S.
San Jose, California-based solar provider SunPower has secured $26.2 million through a private equity placement aimed at expanding its domestic solar operations. Venture firm Kleiner Perkins Chairman John Doerr's family office, Foris Ventures, served as the primary anchor for the funding round, which drew significant participation from Sand Hill Road investment firms.
The capital infusion arrives as the company navigates broader market shifts. SunPower Chief Executive Officer T.J. Rodgers attributed recent pressure on the firm's share price—which has traded under $1—to a sector-wide reset following the expiration of the Investment Tax Credit, alongside internal execution setbacks within its SunPower Direct division during the second quarter of 2026. Management has assigned veteran profit-and-loss manager Kapil Rai to oversee the division's recovery.
Originally established in 1985 by Stanford University electrical engineering professor Richard Swanson, SunPower operates as a solar technology, installation, and services firm driven by a proprietary digital platform. Energy titan TotalEnergies acquired a controlling stake in the enterprise in 2011, prior to SunPower spinning off its manufacturing operations into Maxeon Solar Technologies in 2020.
The company continues to operate out of California, which remains the top solar-producing state in the nation with over 55,000 megawatts direct current of total installed solar capacity, supplying power to more than 16 million households. Solar sources generated half of California's electricity in mid-2026, with utility-scale solar output exceeding natural gas generation on most days during the early months of the year. Additionally, the state's battery storage capacity reached a peak output of 12.99 gigawatts in July 2026 to store surplus mid-day solar energy for evening usage, aligned with state targets requiring 60 percent renewable power by 2030 and a fully zero-carbon grid by 2045. However, recent modifications to net-billing regulations reduced credits for exported residential solar energy by roughly 75 percent, triggering a drop in new rooftop installations.
Despite regional residential headwinds, the United States maintains its position as the world's second-largest solar energy producer behind China, supported by public policy backing emission-reduction projects across the domestic energy sector.
Originally reported by Energies Media on Sep 13, 2026.
