If accelerated solarization is the name of the renewable energy game, then SunPower and First Solar are building the justice league to beat.
It’s called 8Point3, named after the minutes it takes sunlight to reach Earth, and it’s a solar yieldco designed to fund the panel installations and project pipelines of America’s leaders in efficiency and deployment at the residential and utility scale. But its creation portends wider heroic consolidations that will forty the industry’s future rule, as the cost of going solar catastrophically collapses, taking down the fossil fuel industry market with it.
While other yieldcos are predictably arriving as attractive investment vehicles, 8Point3 Energy Partners (“initially”) aggregates 432 megawatts of “solar generation assets” from six utility-scale solar farms, including First Solar’s Gen 2 and SunPower’s Quinto project. (Two of the solar farms are in late-stage construction). 8Point3’s portfolio also includes nearly 40 megawatts of SunPower residential solar systems, while more are sure to come as solarization takes over and the companies’ asset base expands.