It doesn't take a genius to realize that the time may well be here to start investing in alternative energy sources. Solar energy, the cleanest and most renewable source of electrical power, has long been thought of as a bit of a pipe dream -- good in principle but not as easy to put into practice. But SunPower Corporation (NASDAQ: SPWR), the Silicon Valley-based manufacturer of solar electrical systems for homes and businesses, shows us there might be something new under the sun.SunPower's 15 years of research and development have put it at the forefront of its field in both form and function: Its innovative technologies generate up to 50% more power than conventional solar energy systems, and its sleek black panels look so good they now grace the roof of the new Shiseido factory in New Jersey. With an exceptional product and lower overhead than its competitors due to its outsourced production facilities in Southeast Asia, SunPower looks to be able to shine brightly among its bigger competitors like Sharp or Nanosolar.
Clearly, SunPower is doing something right. Its recently-announced third quarter earnings show that revenue for the company is up 34% this quarter -- and over 250% from last year. And, if the company's estimates are to be believed, next year looks to be even brighter, with new product lines and new facility contracts on the horizon.
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