Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) (“Maxeon” or the “Company”), a global leader in solar innovation and channels, today announced a collaboration with Samsung Electronics Co., Ltd. to integrate Maxeon’s SunPower One residential energy solution within SmartThings’ connected home platform. This integration is intended to enable homeowners to increase their energy independence, save money, and contribute to a cleaner environment.
SmartThings is Samsung’s open smart home platform enabling hundreds of millions of homeowners globally to monitor, control, and automate their connected devices inside and around the home. The parties have signed a memorandum of understanding (MOU) and the initial plan is to connect Maxeon’s SunPower One ecosystem of clean energy products and services with SmartThings Energy, a home energy solution within the SmartThings app. SmartThings is the first mass-market Smart Home Energy Management System (SHEMS) to earn Energy Star certification, demonstrating its commitment to sustainability.
Data about electricity production and system status from relevant Maxeon products in the home, such as Maxeon and Performance line panels and the Company’s SunPower Reserve battery storage solution, will be shared with the SmartThings Energy dashboard, providing homeowners with further visualization and control options. For example, homeowners can utilize periods of excess solar production to trigger the SmartThings Energy dashboard, which will pre-heat specific rooms in the home through a Samsung heat pump, promoting self-consumption of renewable energy and electricity bill savings.
“Consumers have seen their relationship with energy change rapidly over the past few years and now desire modern solutions that enable them to realize more value from their energy systems,” said Bill Mulligan, Maxeon’s CEO. “The collaboration with Samsung is intended to do just that. It has never been more important for our end-customers to take a more active role in their domestic energy consumption, understand how much money they can save by switching to clean energy sources and how much carbon they can keep from entering the atmosphere. We look forward to collaborating with Samsung and to exploring further business synergies as they arise.”
The companies will also evaluate future integration opportunities to potentially cover electric vehicle chargers, jointly offered grid services like virtual power plant programs, and cross-sales and lead-generation of core products including appliances, displays, and solar systems.
“We are excited to collaborate with key partners like Maxeon to unlock innovation that promotes cost savings and contributes to a lower carbon footprint for energy-conscious homeowners,” said Chanwoo Park, Executive Vice President and Head of Service Biz Group of the Digital Appliances Business at Samsung Electronics. “The goal of SmartThings Energy has always been to make it easier for consumers to take advantage of energy saving opportunities with their smart appliances, and this partnership takes that commitment a step further – improving the overall home energy environment.”
“We are pursuing alliances with category leaders around the world to provide new, compelling, and comprehensive ways for end-consumers to take control of their domestic energy usage,” said Ralf Elias, Chief Product Officer at Maxeon. “Samsung is constantly exploring new horizons on consumers’ relationship with technology, and now energy, and shares a sizable base of common customers with Maxeon across Europe and Asia. We believe through partnerships like this, Maxeon’s customers will be able to make more informed choices about their energy consumption to save money and lead a more eco-conscious lifestyle.”
To learn more on Maxeon’s home energy management experience, click here. To learn more about SmartThings, visit https://www.smartthings.com/.
For a sneak peek at how Maxeon’s SunPower One residential energy solution integrates within SmartThings’ connected home platform, visit Maxeon’s booth, A2.430, during Intersolar Europe, this June 14-16.
