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In my early days as a journalist at WJRT in Flint, Michigan, the iconic Walt Disney Corporation opted to divest its television station, resulting in its acquisition by SJL Holdings, a private equity firm known for aggressive budget cuts. This strategic move came after the 2008 financial crisis, allowing SJL to purchase WJRT along with the Toledo affiliate WTVG for a mere $30 million. Remarkably, George Lilly, owner of SJL Holdings, had sold those same stations to Disney for $120 million back in 1995.
The aftermath of this sale was staggering.
In the weeks that followed, numerous staff members, from anchors to technicians who had dedicated years to the network, were summoned to meetings where many learned they were being let go. This emotional upheaval saw many departing the office devastated and escorted by security, as they collected their personal belongings.
As salaries were cut, what was once a nurturing workplace transformed into a profitable asset.
I eventually left that position to chase an on-air career, managing to help a friend avoid the layoffs (shoutout to Robin!). While I found a new path, the same could not be said for many of my former colleagues.
Fast forward four years, and Gray Television acquired WJRT and WTVG for $128 million from SJL Holdings, padding George Lilly’s pockets once again.
This situation highlights an essential truth: while profitability is important, it should not come at the cost of dedicated employees losing their jobs. Celebrations over financial gains often mask the profound impact on hard-working individuals.
SunPower Now ‘Properly and Leanly’ Staffed
Recently, SunPower—formerly known as Complete Solaria—released its inaugural financial report since the company’s rebranding, marking a significant milestone as it achieved profitability for the first time in four years.
In its Q1 2025 report, SunPower (SPWR) announced revenue of $80.2 million and an operating income of $1.3 million.
“I commend our team for achieving profitability just 180 days post-launch, despite the challenges faced in the solar market,” stated SunPower’s chairman and CEO, T.J. Rodgers.
SunPower’s turnaround can be traced back to its restructuring efforts.
Upon the company’s rebranding, it absorbed the combined staff from Complete Solar, old SunPower, and Blue Raven Solar, which amounted to 3,499 employees. However, as of October 1, 2024, the workforce was dramatically reduced by approximately two-thirds, leaving 1,140 employees. Initially aimed at a headcount of 1,225, this was later cut to 980, and the current number stands at 906—only a quarter of what it once was.
According to the Q1 2025 report, the company now believes it has reached an optimal staffing level to generate profitability at an annualized revenue of $300 million.
SunPower’s continuous cost reductions have steadily improved its operating income over the last three quarters, progressing from a loss of $39.6 million in Q3 2024 to a loss of $5.9 million in Q4 2024, culminating in the reported profit in Q1 2025.
With its new financial flexibility, SunPower plans to attract leading industry experts, such as Dr. Richard Swanson from Stanford, a founder of SunPower, and Dr. Mehran Sedigh, who has extensive experience in energy storage solutions.
Residential Solar Reaches All-time Lows in the US
Despite these strides, SunPower faces significant hurdles moving forward. Harsh tariffs and changing policies threaten the residential solar sector, particularly given the limited domestic output of solar components. Plus, as technology evolves, costs for solar installations continue to decline.
A recent report by EnergySage, released on Wednesday, highlights that residential solar and storage prices have reached unprecedented lows. This report, based on extensive transaction data from homeowners engaging with EnergySage throughout 2024, captures evolving consumer behaviors and installer offerings across all 50 states and Washington, D.C.
Notably, solar prices have decreased for the third consecutive six-month cycle, now averaging $2.50 per watt—the lowest since EnergySage began tracking in 2014. Additionally, energy storage prices hit a record low of $999 per kilowatt-hour.
“As we enter 2025, solar and battery prices are at unparalleled lows on the EnergySage Marketplace. Homeowners now have access to more affordable and effective clean energy solutions,” noted Emily Walker of EnergySage. “This marks a crucial benchmark for assessing the market as we brace for the impact of evolving policies and tariffs.”
Interestingly, as prices fall, improvements in solar panel efficiency are also observed. In the latter half of last year, 33% of quotes featured solar panels rated above 450 watts, a jump from just 1% in the second half of 2023.
“With advancements in panel technology, more homeowners are being offered higher-output systems—resulting in fewer panels required, increased power generation, and better returns on investment,” said Walker. “We are closely monitoring how inventory management and future tariffs may influence this trend.”
Source
www.renewableenergyworld.com