SunPower and The New Home Company Create Sustainable, Energy Independent Community with Solar, Energy Storage and Electric Vehicle Charging in Every Home

Rhea-AI Summary

SunPower Corp. (NASDAQ:SPWR) announced a partnership with The New Home Company to include solar systems, battery storage, and EV chargers in every home at Eureka Grove, Granite Bay, California. Each of the 72 homes will feature a SunPower Equinox® solar system, a 13 kWh SunVault™ battery, and a Wallbox Pulsar Plus EV charger. This integration aims to enhance energy independence, enabling homeowners to manage energy use and save costs effectively. The project symbolizes a shift toward modern sustainable living and is expected to set a trend in new home communities across the nation.

Positive

• Partnership with The New Home Company to include solar systems and EV chargers drives innovation in home construction.
• Each of the 72 homes features integrated solar, storage, and EV charging, promoting energy independence.
• SunPower's advanced technology in solar solutions is highlighted, potentially increasing market appeal.

Negative

• None.

SAN JOSE, Calif., Oct. 14, 2021 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, and The New Home Company (NEW HOME), a top 50 homebuilder focused on creating a new generation of innovative homes, today announced that NEW HOME is making solar systems, battery storage and at-home electric vehicle (EV) chargers standard features in its newest community, Eureka Grove.

All 72 homes in the Granite Bay, California community will include a SunPower Equinox® rooftop solar system, 13 kWh SunVault™ energy storage system and Wallbox (NYSE:WBX) Pulsar Plus EV charger, creating a comprehensive energy management solution for the modern homebuyer. With solar and storage, homeowners can generate electricity from their roofs, deploy stored energy during utility peak times when rates are the highest, and power essential loads during an outage. Homeowners can also leverage solar systems to power their Wallbox EV chargers, making charging more convenient and sustainable.

"The New Home Company is creating communities fit for the future, providing residents energy savings and peace of mind," said Matt Brost, Senior Director of New Homes sales for SunPower. "The obvious combination of solar, storage and EV charging is the future of new home communities nationwide, providing homeowners with convenience and the ability to make a positive impact on the planet."

SunPower Equinox systems generate more power in less space with fewer visible parts than conventional solar systems. SunVault batteries are made with lithium iron phosphate chemistry, which is designed to be safer and more resilient to heat and oxygen exposure than typical lithium-ion batteries. SunPower is a preferred installation provider for Wallbox and will manage the home EV charger installation in the Eureka Grove community. Wallbox's Pulsar Plus chargers come with a standard J1772 EV plug, an app allowing scheduled charging, and power sharing for two or more chargers with adjustable current output, making them a fit for all EV models.

After moving in, Eureka Grove residents can power their home with solar, have backup with battery storage, and charge their vehicle without adding pressure on the grid. Homes with these features are available for purchase today and come equipped with additional tech-forward and environment-friendly features including energy-efficient appliances and vinyl dual-pane windows for improved insulation.

"Technology enhances homes and contributes to a modern lifestyle. Innovations like built-in solar and storage can have a lasting impact on families when it comes to reliability and affordability," said Kevin Carson, NEW HOME president, Northern California. "Our first solar, storage and EV-ready neighborhood is a milestone for the company and we look forward to replicating the teamwork between energy services and architecture across future communities with SunPower to design today's homes for tomorrow's needs."

For more information on SunVault energy storage, visit: https://us.sunpower.com/home-solar/solar-battery-storage.  

For more information on latest The New Home Company neighborhood, visit: EurekaGroveNWHM.com.  

About The New Home Company
The New Home Company (NEW HOME) is a new generation homebuilder focused on the design, construction, and sale of innovative and consumer-driven homes in major metropolitan areas within select growth markets in California, Arizona and Colorado. NEW HOME is one of most awarded homebuilders in the United States. It was named 2019 Builder of the Year by Professional Builder and is a multi-year recipient of "The Eliant" for providing the Best Overall Customer Experience in North America in the Eliant Homebuyers' Choice Awards. NEW HOME has won hundreds of awards in the homebuilding industry for its design and planning excellence, dozens of "Community of the Year" awards, and was recognized five straight years for creating the best community or master plan in all the United States. For more information, visit NWHM.com.

About SunPower  
Headquartered in California's Silicon Valley, SunPower (NASDAQ:SPWR) is a leading Distributed Generation Storage and Energy Services provider in North America. SunPower offers the only solar + storage solution designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners, businesses, governments, schools and utilities. For more information, visit www.sunpower.com.   

Forward-Looking Statements 
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expected project plans, product performance, and cost savings. These forward-looking statements are based on our current assumptions, expectations, and beliefs and involve substantial risks and uncertainties that may cause results to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory changes and the availability of economic incentives promoting use of solar energy and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

©2021 SunPower Corporation.  All Rights Reserved.  SUNPOWER, the SUNPOWER logo, SUNPOWER EQUINOX and SUNVAULT are trademarks or registered trademarks of SunPower Corporation in the U.S.

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SOURCE SunPower Corp.

FAQ

What is the partnership between SunPower and The New Home Company about?

SunPower and The New Home Company are collaborating to make solar energy systems, battery storage, and EV chargers standard features in new homes at Eureka Grove, California.

How many homes are included in the Eureka Grove community?

The Eureka Grove community consists of 72 homes, each equipped with solar energy and EV charging solutions.

When was the announcement regarding Eureka Grove made?

The announcement was made on October 14, 2021.

What features do the homes in Eureka Grove include?

The homes include SunPower Equinox® solar systems, SunVault™ battery storage, and Wallbox Pulsar Plus EV chargers.

What is the significance of this project for SunPower?

This project positions SunPower as a leader in sustainable energy solutions, potentially enhancing its market presence and appeal to environmentally conscious buyers.