SunPower Corporation, a residential solar energy and storage provider headquartered in Richmond, California, and nine affiliates filed for Chapter 11 protection on August 5, 2024 in the U.S. Bankruptcy Court, District of Delaware (Case No. 24-11649) before Judge Craig T. Goldblatt. The filing followed a sharp decline in residential solar demand caused by rising interest rates and inflation, which reduced customer financing affordability. The company operated through three channels: Blue Raven (direct-to-consumer), New Homes (homebuilder partnerships), and SunPower Dealer Network. At filing, SunPower carried approximately $2.01 billion in total funded debt (~$483 million debtor-level and ~$1.53 billion in non-debtor structured project silo facilities). The company obtained no DIP financing and instead relied on interim and final cash collateral orders. Complete Solaria closed a going-concern acquisition on September 30, 2024 for $45 million. The Amended Joint Chapter 11 Plan was confirmed on October 18, 2024 and became effective November 14, 2024. A final decree closing affiliate cases was entered February 18, 2025.
