SunPower Inc announced the successful completion of a 977-kilowatt solar system at the Millenium Project, a 330-unit community in Palm Desert, California. The system is designed to generate over 1.6 million kWh of clean, locally produced energy annually for residents. The project is backed by a 30-year commitment to maintain peak performance. SunPower was awarded a Net Promoter Score (NPS) of 90 for this installation, marking a significant milestone in its customer transformation program.

Guy Winters, President of PearlX, the owner of Millenium, stated that the project validates the company's Energy Estate model. He emphasized that the infrastructure delivers real returns for the property owner and residents. Winters noted that the NPS score of 90 confirms PearlX's selection of SunPower as a partner, citing quality installation and disciplined execution.

SunPower CEO T.J. Rodgers highlighted the engineering and physics behind the carport structure. He explained that the solar panels eliminate the need for a conventional roof while providing shade. Rodgers noted that the system converts light energy into usable electricity rather than allowing it to heat the environment.

Rodgers provided context on the NPS score, explaining that it uses an industry standard scale ranging from -100% to +100%. He cited a SurveyMonkey benchmark indicating that scores between 0% and 70% differentiate companies from "good" to "excellent." He compared SunPower's score of 90 to Apple's typical leadership score of 70.

Net Promoter Score Progress

Rodgers clarified that the high score on this specific project does not reflect SunPower's overall NPS. The company recorded an NPS of -25% in Q2’25 following the acquisition of the old SunPower entity after its bankruptcy. Since then, the company has improved its score every quarter. SunPower aims to reach an NPS target of 70%-plus by Q2’27.

Market Outlook

Rodgers discussed the economic drivers for the residential solar market. He stated that the fully installed price of solar systems drops annually, while utility-based power costs are forecasted to rise. According to EnergySage, the cost of a home solar system in California is about $2.47 per watt, with a payback period of 7.3 years through reduced utility bills. Rodgers cited U.S. Energy Information Agency data showing that only 15% of California homes and 7% of U.S. homes for which solar makes financial sense have currently installed it.

SunPower Inc. granted 1.0 million time-based restricted stock units (RSUs) to Tom Kowalczuk in connection with his appointment as Chief Financial Officer on June 30, 2026. The inducement award was approved by the Board of Directors without shareholder approval under Nasdaq Stock Market Listing Rule 5635(c), which governs employment inducement awards. The grant aligns executive compensation with the company’s performance and retention goals as SunPower continues to focus on residential solar services in North America.

Vesting Schedule

The RSUs are subject to a five-year vesting schedule tied to Mr. Kowalczuk’s continuous service. The structure ensures long-term commitment to the company’s strategic objectives.

Regulatory Approval

The Board of Directors approved the grant on the commencement date, June 30, 2026, bypassing the need for shareholder approval by classifying the award as an employment inducement. This exception is permitted under Nasdaq Listing Rule 5635(c), which requires public disclosure of such grants. The rule allows companies to offer inducement materials to new employees as an incentive to join the organization.

SunPower Inc. (Nasdaq: SPWR) is a solar technology, services, and installation company. Its digital platform and installation services support energy needs for customers transitioning to energy-efficient lifestyles.