California company spends US$24 Million on R&D
SunPower is a US high-efficiency PV cell and module producer. The company has recently invested approximately US$25 million over the past 12-months towards a research and development and pilot line facility located at its headquarters in San Jose, California.
The facility includes several high-volume production-sized manufacturing tools and automation, and specialized testing equipment, designed to support its next generation of high efficiency N-type monocrystalline IBC (Interdigitated Back Contact) solar cells and modules, which are being designed with greater emphasis on lower cost manufacturing.
SunPower places significant emphasis on producing the world’s best solar panels with technology developed and tested in Silicon Valley. In addition to this, SunPower also facilitates significant job creation, capital investment opportunities from equipment manufacturers and deals, and more affordable solar energy options for homes and businesses worldwide.
SunPower had the second highest expenditure from a basket of module manufacturers analysed in 2016, investing US$116.1 million, which is up from $99 million in 2015. Although the company’s R&D staffing levels did slightly fall from 449 in 2015 to 406 in 2016, the job opportunities to be created from the new R&D facility will significantly increase this number once again.
An R&D Tax credit can significantly support a business to further develop its research. If you would like to find out more about R&D tax and whether your company may qualify for an R&D tax credit, contact a Swanson Reed R&D tax specialist today, we look forward to speaking with you.