SunPower Announces Two New SunVault™ Battery Storage Options
SunPower (NASDAQ:SPWR) has announced the launch of two new battery configurations for its SunVault energy storage product: 19.5 kWh and 39 kWh, enhancing its modular and scalable offerings. These new versions allow homeowners to store more energy in less space and come with improved design features for easier installation. With the launch, SunVault now offers five configurations, enabling comprehensive home power solutions during outages. Homeowners may also benefit from a 30% tax credit on battery technology purchases starting in 2023 due to the Inflation Reduction Act.
- Introduction of new SunVault configurations (19.5 kWh and 39 kWh) enhances product offering.
- Products enable increased energy storage density, maximizing space and reducing costs for consumers.
- Homeowners may benefit from a 30% tax credit on battery technology starting in 2023.
- None.
With the introduction of 19.5 and 39 kWh versions, SunVault can be right-sized for almost any home with modularity and scale
RICHMOND, Calif., Sept. 20, 2022 /PRNewswire/ -- Today SunPower (NASDAQ:SPWR), a leading residential solar technology and energy services provider, expanded its portfolio of energy storage products with the launch of a 19.5 kWh and 39 kWh SunVault.
These new battery configurations offer increased energy density and maximize space within the battery as compared to previous versions of SunVault, providing the ability to store more energy into a single box. For customers, this means they can purchase more energy storage for less money and fit it in less wall space, with the option to build a larger system as the home's energy needs evolve. SunPower has also made design upgrades that can make SunVault faster and easier to install.
"Every homeowner has unique energy storage needs — some want the peace of mind that they can power essentials during a blackout like a refrigerator and WiFi, while others want the flexibility to also charge an EV or run their air conditioning," said Nate Coleman, Chief Products Officer at SunPower. "With these new storage sizes and higher power output through multiple inverters, SunVault's modular configuration allows customers to get the storage size they need today with the reassurance that they can grow their system as their home energy requirements change."
As states across the nation set new records for electricity demand amid the summer's heat waves, more homeowners face the threat of rolling blackouts and receiving texts from their electric grid to conserve energy. Homeowners can manage their SunVault™ energy storage with the mySunPower® app to see how much energy is available during peak-demand to reserve for an outage or lower energy costs by using stored energy. Further, all SunVault energy storage systems are backed by a 10-year warranty, regardless of how much the battery is charged and drained over time.
With this launch, SunVault is now available in five configurations: 13 kWh, 19.5 kWh, 26 kWh, 39 kWh and 52 kWh. Some of these options include multiple inverters. SunVault configurations with multiple inverters and storage capacity of 26 kWh and more have the potential to power the whole home, so customers don't have to choose between comfort and essential loads during an outage1.
With the signing of the historic Inflation Reduction Act, homeowners may be even more incentivized to seek resiliency with battery solutions like SunVault. Beginning in 2023, customers may be eligible for a
The new SunVault sizes will be available beginning early 2023. To learn more, visit https://us.sunpower.com/home-solar/solar-battery-storage.
SunPower is a leading solar 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. For more information, visit www.sunpower.com.
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 product performance, launch plans and timelines, 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.
©2022 SunPower Corporation. All Rights Reserved. SUNPOWER, the SUNPOWER logo, MYSUNPOWER and SUNVAULT are trademarks or registered trademarks of SunPower Corporation in the U.S.
1 The storage system's ability to provide electricity during an outage will vary based on the amount of energy stored in the battery, wattage and duration of use of devices/appliances connected to the system, the battery's ability to recharge during daylight hours, and other factors. Additional hardware may be required for powering your HVAC system. Storage system should not be relied upon as a single source of power for critical medical devices.
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SOURCE SunPower Corp.
FAQ
What new products has SunPower launched on September 20, 2022?
How do the new SunVault configurations affect homeowners?
What tax incentive is available for battery storage systems in 2023?
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