SAN JOSE, Calif., Sept 09, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- SunPower Corporation (Nasdaq: SPWR), a Silicon Valley-based manufacturer of high-efficiency, solar cells, solar panels, and solar systems, today announced that the U.S. Department of Energy (DOE) has installed a 205-kilowatt SunPower solar-electric system atop the roof of the Forrestal Building in Washington, D.C. U.S. Department of Energy Secretary Samuel W. Bodman dedicated the system at a ceremony being held at the facility today.
"The significance of this solar array is both practical and symbolic -- it improves the way the Department consumes energy and it is a symbol of America's commitment to using the best available new technologies to confront the energy challenges we face today and will face tomorrow," said U.S. Secretary of Energy Samuel W. Bodman."
"We are proud that the Department of Energy, which is investing research and development funding into a wide spectrum of solar technologies, chose SunPower's high-efficiency solar panels to help power its headquarters," said Tom Werner, chief executive officer of SunPower. "This installation is a testament to the growing adoption of solar energy on commercial and public buildings. Solar power systems help to minimize a customer's exposure to electric rate volatility for decades into the future."
SunPower PowerGuard(R) was chosen for the DOE's rooftop because it integrated well into the existing roofline. PowerGuard is a patented, non-penetrating lightweight photovoltaic roofing system that delivers clean solar electricity to the building while protecting the roof from damaging effects of weather and UV radiation, as well as insulating the building to reduce heating and cooling costs. SunPower's high-efficiency 230 solar panels were used in the DOE's solar system and will generate approximately 222,000 kilowatt hours of electricity annually.
SunPower has also installed solar systems for other government agencies such as the U.S. Navy in Coronado, Calif., and Pearl Harbor, Hawaii, as well as atop the roof of the U.S. Postal Service in West Sacramento, Calif. SunPower has installed a 14 megawatt solar photovoltaic power plant at the Nellis Air Force Base near Las Vegas, Nev., and has contracted to build a 10 megawatt ground-mounted solar system at the Kennedy Space Center for Florida Power & Light Company.
The DOE's solar-electric system was installed by two of SunPower's premier dealers. altPOWER, the market leader in New York City, specializes in building integrated photovoltaic systems (BIPV), a process whereby solar cells and panels are incorporated into the shell of a new building. Standard Solar, based in Maryland, is a turnkey system developer that specializes in residential and commercial solar power installations. The company is presently installing solar arrays for homes and businesses throughout the Mid-Atlantic Region.
SunPower Corporation (Nasdaq: SPWR) designs, manufactures and delivers high-performance solar electric systems worldwide for residential, commercial and utility-scale power plant customers. SunPower high-efficiency solar cells and solar panels generate up to 50 percent more power than conventional solar technologies and have a uniquely attractive, all-black appearance. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia, and Asia. For more information, visit http://www.sunpowercorp.com. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements that do not represent historical facts. The company uses words and phrases such as "will," "growing," "help" and similar expressions to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, the company's plans and expectations regarding: (a) the growing adopting of solar energy on commercial and public buildings; (b) solar power systems helping to minimize a customer's exposure to electric rate volatility for decades into the future; and (c) the solar panels generating approximately 222,000 kilowatt hours annually. These forward-looking statements are based on information available to the company as of the date of this release and current expectations, forecasts and assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks and uncertainties include a variety of factors, some of which are beyond the company's control. In particular, risks and uncertainties that could cause actual results to differ include: (i) business and economic conditions and growth trends in the solar power industry; (ii) the continuation of governmental and related economic incentives promoting the use of solar power; (iii) the continued availability of third-party financing arrangements for the company's customers; (iv) the price and availability of cells and solar panels; (v) actual electricity generation; (vi) the actual energy consumption rate; (vii) unexpected changes in utility service rates; and (viii) other risks described in the company's Quarterly Report on Form 10-Q for the quarter ended June 29, 2008, and other filings with the Securities Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
SunPower is a registered trademark of SunPower Corp. Cypress is a registered trademark of Cypress Semiconductor Corp. All other trademarks are the property of their respective owners.
SOURCE SunPower Corporation
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