Maxeon Solar Technologies, Ltd.

Maxeon is a global marketer of premium solar power technology, headquartered in Singapore. The company has developed its leadership through technological innovation and investment, alongside building sales and distribution channels across six continents. Maxeon is currently restructuring its business to focus exclusively on the U.S. market. The solar market has grown significantly, reaching over 2,170 GW of global installed capacity as of 2024, a compound annual growth rate of 29% since 2014, according to S&P Global and Wood Mackenzie reports from December 2024. This growth is driven by declining manufacturing costs and improved performance, making solar power, combined with enhanced balance of system technology, one of the lowest levelized cost of energy (LCOE) sources. BloombergNEF's May 2024 New Energy Outlook report projects solar technology to represent 19% (economic transition scenario) to 22% (net zero scenario) of global electricity generation by 2050, up from approximately 4% currently. Key drivers for demand include solar power's low LCOE in certain regions, its significant projected electricity capacity in the United States over the next 10 to 15 years, government incentives and policies for renewable energy, and increasing public awareness of solar power's advantages.