CSBA and SunPower Partnering to Establish Solar Schools Program

WEST SACRAMENTO, Calif. and SAN JOSE, Calif., July 26, 2011 /PRNewswire-FirstCall/ -- In partnership with SunPower Corp. (NASDAQ: SPWRA, SPWRB), the California School Boards Association, a non-profit organization representing nearly 1,000 school districts and county offices of education throughout California, has launched its newest district services program, Solar Schools, to support school districts in developing efficient solar projects at their schools.

Solar Schools helps schools save money on energy, hedge against rising utility rates and effectively utilize federal and state incentives to garner the greatest return on investment. With the California Solar Initiative (CSI), the State of California's solar rebate program, California's public sector, including schools, is forecasted to save $2.5 billion from solar installations over the thirty year life of the systems. Of the total savings for the public sector, K-12 schools and higher education institutions are expected to save approximately $1.5 billion.

"SunPower is dedicated to delivering reliable, high efficiency solar systems for school districts," said SunPower managing director Bill Kelly. "With well-established financing mechanisms, we have proven that schools can add solar now and reduce their operating expenses this year, when cost reduction is highly prized."

"At a time when our school board members need to make every dollar count, we are pleased to partner with SunPower in offering school districts throughout the state solar power solutions that yield immediate and ongoing savings," said Martin Gonzalez, deputy executive director of CSBA. "Our decision to collaborate with SunPower is based on the company's extensive work with school districts throughout California, as well as the feedback we have received from our members on the comprehensive services SunPower provides to districts."

Within the next year, SunPower plans to install solar at more than 90 K-12 schools and higher education facilities across California, including five schools in the San Ramon Valley Unified School District. The solar power generated by the systems at San Ramon Valley School District is expected to offset an average of 80 percent of the electricity costs at each school, achieving an estimated savings of more than $2 million for the district in the first year.

"The district was motivated by the significant cost savings that SunPower's solar systems offer," said San Ramon Valley Unified School District Superintendent Steven W. Enoch. "We found SunPower to be extremely innovative in helping us to maximize our immediate cost savings. Slated for completion by this fall, our solar installations will supply substantial savings to our district's general fund, while preserving precious financial resources."

Prompted by the news of the Solar Schools launch, San Ramon Valley Unified School District is bringing renewable energy education into the classroom.  SunPower is working with the district's engineering academy to prepare students for career opportunities in the growing clean technology sector. Plans are underway to launch similar curricula at school districts participating in Solar Schools.

For more information on the Solar Schools program, visit: http://www.csba.org/Services/Services/DistrictServices/SolarSchoolsProgram.aspx

About CSBA

The California School Boards Association is a non-profit organization representing nearly 1,000 school districts and county offices of education throughout California. CSBA is a member-driven association that supports governance teams — school board members, superintendents and senior administrative staff — by providing unparalleled advocacy, information and support services.

About SunPower

SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The company uses words and phrases such as "expect," "will," "projected," "plan" and similar expressions to identify forward-looking statements in this press release, including forward-looking statements regarding:  (a) the expected savings of the Solar Schools initiative; and (b) installation of 90 additional SunPower solar systems in educational facilities across California in the next year. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as:  (i) electricity rates and the calculation of savings of solar systems; (ii) the impact of regulatory changes and the continuation of governmental and related economic incentives promoting the use of solar power; (iii) increasing competition in the industry and lower average selling prices; (iv) construction difficulties or potential delays, including obtaining land use rights, permits, license, other governmental approvals; (v) the availability of financing arrangements; (vi) the company's ability to remain competitive in its product offering and maintain its partnership with California School Boards Association; and (vii) other risks described in the company's Annual Report on Form 10-K for the year ended January 2, 2011, Quarterly Report on Form 10-Q for the quarter ended April 3, 2011 and other filings with the Securities and 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. All other trademarks are the property of their respective owners.

SOURCE SunPower Corp.