SPI Energy

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.

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

Product category

Renewable Energy Equipment Manufacturing

NAICS

Solar Electric Power Generation (221114)

SIC

Electric Services (4911)

akta.pro industry

PRIMARYEUAMABAB

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System)

Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Solar Energy (PV, CSP, Rooftop & Utility-Scale)

SECONDARYEUAEAAAG

Solar PV Power Plant EPC (Utility-Scale)

Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Power Generation EPC & Construction

SECONDARYEUACALAJ

Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro)

Energy, Utilities & Environment/Electric Power Generation/Distributed & Behind-the-Meter Power Generation (Microgrids, DG)

Keywords

• Solar module manufacturing
• Commercial EV manufacturing
• Silicon wafer production
• Solar EPC services
• Renewable energy solutions

Headquarters

HQ city

Santa Clara

HQ country

United States

HQ region

North America

Offices8 records

Markets served

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

1. 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
2. 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
3. Independent Power Producer (Orange Power): Owns and operates solar projects globally, selling electricity to the grid; produced 55.9 million kWh in 2022
4. EV Manufacturing (Phoenix Motor): Medium-duty commercial electric vehicles including shuttle buses, trucks, forklifts; EV charger solutions; electric pickup trucks (EdisonFuture)
5. Solar Distribution (SolarJuice): Solar wholesale distribution in Australia, residential solar and roofing installation, Asia Pacific and North America markets
6. 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

Core 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

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• WallboxcoreTechnology or Integration · 9 September 2022SolarJuice 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 USAcoreChannel Partner/ Reseller/ Distributor · 25 August 2022Strategic 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.
• SungrowcoreTechnology or Integration · 9 May 2022SolarJuice 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

Broad 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

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries10 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SPI Energy