US solar company SunPower Corp (NASDAQ:SPWR) plans to reduce its workforce and shut down direct sales divisions in a restructuring move aimed at reducing costs and simplifying the business model. The move involves the lay-off of about 1,000 employees over the coming days and weeks. SunPower Residential Installation (SPRI) locations and SunPower Direct sales will be closed as the company transitions to a low fixed-cost model. Following a transition period, all project pipeline operations will be performed by subsidiary Blue Raven Solar, installation partners and certified dealers. The company booked a $247.1-million ($230.4m) net loss in the past year, compared to a profit of $42.8m in 2022 due to revenue contract and increased operating costs.

Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating







