SPI Energy
SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company offering American-made solar modules, silicon wafers, EPC services, independent power production, and medium-duty commercial electric vehicles to residential, commercial, utility, and fleet operator customers in North America, Australia, Asia, and Europe.
- Company typePublic
- Founded2006
- HeadquartersSanta Clara, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingHardware or Manufacturing
What SPI Energy does
SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company founded in 2006 in Roseville, California, now headquartered in McClellan Park, California, with FY2022 revenue of $177.5 million (up 9.6% YoY) and FY2023 guidance of $250M-$300M with $29M-$36M in net profit. The company is organized into three core divisions: SolarJuice (residential and small commercial solar distribution across Asia Pacific and North America), a commercial solar division combining SPI Solar (EPC services) and Orange Power (independent power producer selling electricity to the grid in the U.S., U.K., and Europe), and the EdisonFuture / Phoenix Motor EV division producing medium-duty commercial electric vehicles, shuttle buses, trucks, forklifts, and EV chargers.
Manufacturing is anchored by Solar4America, which produces American-made solar modules ranging from 330W residential to 610W commercial using M10/182mm and TOPCON cell technology with up to 22.3% efficiency, and is ramping module capacity from 700MW to 2.4GW in 2023 with a stated 5GW path by 2024. SEM Wafertech, launched September 2022, is building a U.S. silicon wafer manufacturing capability targeting 1.5GW initial capacity and 3GW by 2024, with a $65.9M Sumter, South Carolina facility creating 300 jobs. The company also holds provisional patents on a solar module rework apparatus and cell replacement machine tied to electroluminescence testing.
SPI Energy generates revenue through hardware sales (modules, wafers, EVs, EV chargers), professional services (EPC contracts for third-party developers), and managed services (Orange Power's IPP operations). Go-to-market combines direct enterprise sales for utility and C&I projects, channel partnerships (Krannich Solar USA for North American module distribution, Wallbox for Australian EV charging, Sungrow for a 2GW inverter supply agreement), retail/showroom (RideZoomers in Fremont), and an Amazon storefront. The Phoenix Motor EV business was carved out via a June 2022 IPO on NASDAQ under ticker PEV, raising $15.75M with SPI retaining roughly 80% ownership, and a SolarJuice spinoff IPO was publicly filed in September 2022.
SPI Energy firmographics
Firmographics- Name
- SPI Energy
- Legal name
- SPI Energy Co., Ltd.
- Website
- https://spigroups.com
- Company type
- Public
- Founded year
- 2006
- Headcount range
- 251–500 employees
- Short description
- SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company offering American-made solar modules, silicon wafers, EPC services, independent power production, and medium-duty commercial electric vehicles to residential, commercial, utility, and fleet operator customers in North America, Australia, Asia, and Europe.
- Ownership category
- akta.pro rank
SPI Energy industry classification
Industry- Product category
- Renewable Energy Equipment Manufacturing
- NAICS
- Solar Electric Power Generation (221114)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)
- akta.pro secondary industries
- Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)
Keywords
Where SPI Energy is headquartered
LocationHeadquarters
- HQ city
- Santa Clara
- HQ country
- United States
- HQ region
- North America
Offices8 records
Markets served
SPI Energy business model
Business model- GTM type
- B2B and B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Solar Module Manufacturing (Solar4America): Manufacturing and sale of American-made solar modules (residential 330W-410W, commercial 410W-550W) with capacity ramping from 700MW to 2.4GW
- Solar Project Development (SPI Solar): EPC services to third-party project developers; develops, owns and operates utility-scale solar projects that sell electricity to the grid
- Independent Power Producer (Orange Power): Owns and operates solar projects globally, selling electricity to the grid; produced 55.9 million kWh in 2022
- EV Manufacturing (Phoenix Motor): Medium-duty commercial electric vehicles including shuttle buses, trucks, forklifts; EV charger solutions; electric pickup trucks (EdisonFuture)
- Solar Distribution (SolarJuice): Solar wholesale distribution in Australia, residential solar and roofing installation, Asia Pacific and North America markets
- Solar Wafer Manufacturing (SEM Wafertech): Silicon wafer production for solar cells and semiconductors, targeting 1.5GW initial capacity expanding to 3GW by 2024
Go-to-market motion3 records
Distribution channels6 records
Marketing channels5 records
SPI Energy product offering
Product offeringCore offering
SPI Energy is a global renewable energy company that manufactures American-made solar photovoltaic modules (330W-610W residential and commercial panels), silicon wafers for solar cells, and medium-duty commercial electric vehicles including trucks, buses, forklifts, and charging solutions. The company provides EPC services for utility-scale solar projects and operates as an Independent Power Producer selling electricity to the grid in multiple countries.
Product overview
SPI Energy is a global renewable energy company with a diversified multi-product portfolio organized into three core divisions. The SolarJuice division handles residential solar, small commercial markets, and wholesale distribution across Asia Pacific and North America. The commercial solar division (SPI Solar and Orange Power) provides EPC services and operates as an independent power producer developing, owning and operating utility-scale solar projects. The EdisonFuture/Phoenix Motor EV division designs and manufactures medium-duty electric vehicles including trucks, buses, forklifts, and charging solutions. Manufacturing operations include Solar4America producing American-made solar modules (330W-610W) from Sacramento and South Carolina facilities targeting 2.4GW capacity, and SEM Wafertech producing silicon wafers for solar cells with 1.5GW initial capacity expanding to 3GW. Additional products include cloud-based solar monitoring platforms, residential energy storage systems, EV charging solutions, and electric scooters through the RideZoomers brand.
Differentiator
Problem solved
Functional benefit
Products and services
- 550W (M10) Commercial Bifacial Solar Module American-made 550W bifacial solar module using M10 (182mm) cell technology, designed for commercial, industrial and utility-scale installations as the first domestically produced 550W/M10 bifacial product
- Pioneer5 575W TOPCON Solar Module Commercial and industrial solar module with TOPCON cell technology achieving industry leading efficiency up to 22.3%
- Pioneer4 430W TOPCON All-Black Solar Module Residential solar module with TOPCON technology and 22.3% efficiency designed for residential rooftop installations
- 450W and 550W Commercial Solar Modules (Solar4America) American-made commercial solar modules launched under the Solar4America brand in March 2022 for commercial and industrial customers
- 380W and 410W Residential Solar Panels (Solar4America) American-made residential solar panels launched under the Solar4America brand for residential market customers
- SEM Wafertech Solar Wafer Manufacturing American-made silicon wafer manufacturing subsidiary producing silicon wafers for photovoltaic cells and semiconductors with 1.5GW initial capacity expanding to 3GW by 2024
- Solar Project Development and EPC Services Full spectrum EPC services to third-party project developers and develops, owns, and operates utility-scale solar projects that sell electricity to the grid in multiple regions including the U.S., U.K., and Europe through SPI Solar and Orange Power divisions
- Phoenix Motorcars EV Charging Solutions Full range of electric vehicle charging solutions for the US market from Phoenix Motorcars including commercial and residential charging stations
- EdisonFuture EF1-T Electric Pickup Truck Next generation electric pickup truck with solar mosaic technology from EdisonFuture designed for commercial and consumer pickup truck market
- EdisonFuture Solar Delivery Van Next generation all-electric delivery van with solar integration from EdisonFuture designed for commercial delivery fleets
- Phoenix Motorcars Lithium-ion Electric Forklift Long-life cycle lithium-ion electric forklift for warehouse and logistics operators from Phoenix Motorcars
- RideZoomers Zoomer 2 Electric Scooter Consumer electric scooter from RideZoomers subsidiary distributed through retail shop and service center in Fremont, California
- Solar4America Commercial Energy Storage Cabinet Commercial and industrial outdoor energy storage cabinet for storing solar-generated electricity from Solar4America brand
- Solar4America Cloud-Based Solar Monitoring and Maintenance Platform Cloud-based platform from Solar4America enabling customers to monitor solar system performance and manage maintenance
- US-Made M10 Solar Modules Volume Production First domestic M10 (182mm cell) solar module production line in the U.S. from Sacramento facility with 550MW of manufacturing capacity added
- SolarJuice Wholesale Distribution Network Solar wholesale distribution network in Australia providing residential solar and roofing installation in Asia Pacific and North America markets
- Orange Power Independent Power Producer Independent Power Producer business that develops, owns and operates solar projects selling electricity to the grid in multiple regions including the U.S., U.K., and Europe, produced 55.9 million kWh in 2022
Quantifiable outcome
- 55.9 million kWh renewable energy produced in 2022, powering 9,300+ European homes and offsetting 37,930 tons CO2
- +4 more outcomes
Companies that use SPI Energy
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
SPI Energy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature5 records
SPI Energy partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- WallboxcoreSolarJuice Australia partnership with Wallbox announced September 2022 to drive development of smart technology for residential and commercial EV charging solutions, including bi-directional charging. Wallbox is a global EV charging solutions provider headquartered in Barcelona.
- Krannich Solar USAcoreStrategic partnership announced August 2022 for distribution of Solar4America American-made solar modules across North America. Krannich Solar has offices in New Jersey, California, Florida, and Texas. Partnership enables immediate module delivery for residential and commercial projects.
- SungrowcoreSolarJuice subsidiary signed 2GW supply agreement with Sungrow, the global leading inverter solutions supplier for renewables. Covers solar inverter supply for projects across Australia and North America markets.
Scale indicators18 records
Recent moves11 records
Expansion highlights6 records
SPI Energy competitors and assessment
Company assessmentBroad incumbents
- Enphase Energy: Solar microinverter and energy storage supplier with distribution into the residential and C&I markets where SolarJuice and Solar4America sell; adjacent ecosystem competitor.
- Sunnova Energy International: U.S. residential solar and storage service provider; competes with SolarJuice in residential/small commercial solar and battery solutions in North America.
- Sunrun: Largest U.S. residential solar installer; adjacent to SolarJuice's residential and small commercial offering, providing a comparable end-customer profile.
Direct peers
- First Solar: Largest U.S. headquartered solar module manufacturer with utility-scale projects and a similar IRA-driven domestic manufacturing playbook; competes directly with Solar4America for C&I and utility-scale project module sales.
- Canadian Solar: Vertically integrated solar manufacturer and project developer with utility-scale EPC/development; comparable to SPI Solar's project development and module manufacturing.
- Maxeon Solar Technologies: Solar module manufacturer with U.S. production tied to SunPower; competes head-to-head with Solar4America in residential and C&I module channels.
- Lightning eMotors: Manufacturer of medium-duty commercial EVs and EV powertrains for fleets; directly comparable to Phoenix Motor's commercial vehicle and fleet electrification offering.
- SunPower: Residential and commercial solar installer with module manufacturing ties (Maxeon); overlaps with SPI's SolarJuice residential/small commercial channel and Solar4America module supply.
- Workhorse Group: Medium-duty commercial EV and last-mile delivery truck maker; directly comparable to Phoenix Motor's medium-duty commercial EV, shuttle, and fleet focus.
- JinkoSolar: Global leader in solar module manufacturing; competes with Solar4America globally and sets the module ASP benchmark that determines SPI's pricing power.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
SPI Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
SPI Energy leadership team
Management profileNumber of profiles
Profiles15 records
SPI Energy subsidiaries and ownership
Company hierarchySubsidiaries10 records
SPI Energy funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SPI Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SPI Energy
What does SPI Energy do?
SPI Energy is a global renewable energy company that manufactures American-made solar photovoltaic modules (330W-610W residential and commercial panels), silicon wafers for solar cells, and medium-duty commercial electric vehicles including trucks, buses, forklifts, and charging solutions. The company provides EPC services for utility-scale solar projects and operates as an Independent Power Producer selling electricity to the grid in multiple countries.
Is SPI Energy a public or private company?
SPI Energy is a public company. It is classified as public.
When was SPI Energy founded?
SPI Energy was founded in 2006. It employs 251 to 500 people.
Where is SPI Energy based?
SPI Energy is headquartered in Santa Clara, United States, in the North America region.
How does SPI Energy make money?
Six revenue lines are on record. Solar Module Manufacturing (Solar4America) is the primary driver. The others are solar Project Development (SPI Solar), independent Power Producer (Orange Power), EV Manufacturing (Phoenix Motor), solar Distribution (SolarJuice) and solar Wafer Manufacturing (SEM Wafertech).
Who are SPI Energy's main competitors?
Broad incumbents on record are Enphase Energy, Sunnova Energy International and Sunrun. Direct peers are First Solar, Canadian Solar, Maxeon Solar Technologies, Lightning eMotors, SunPower, Workhorse Group and JinkoSolar.
Does SPI Energy have an API?
No public API is recorded for SPI Energy.
What industry is SPI Energy in?
SPI Energy's product category is Renewable Energy Equipment Manufacturing. Its primary akta.pro industry code is EUAMABAB, Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System), with a secondary code of EUAEAAAG, Solar PV Power Plant EPC (Utility-Scale). Its NAICS code is 221114 and its SIC code is 4911.