SunPower and KB Home Partner on Home Energy Storage Solutions

LOS ANGELES and SAN JOSE, Calif., June 24, 2014 /PRNewswire/ -- Today, SunPower Corp. (NASDAQ: SPWR) announced a new collaboration with its longtime partner KB Home (NYSE: KBH) to install innovative energy storage solutions at certain KB Home locations in California as part of a pilot program. SunPower currently offers its high-efficiency solar power systems to purchasers of new homes in more than 150 KB Home communities; this new pilot program expands the partnership and demonstrates this new technology's ability to store solar power generated during the day for use during power outages.

"With energy storage capability, homeowners with solar power systems and home system monitoring today can control their electricity costs and have the security of knowing they'll have power during an outage. In the near future, battery storage will help homeowners manage energy loads using stored power, including charging electric vehicles at night," said SunPower CEO Tom Werner. "KB Home is once again demonstrating leadership with this move to show how homeowners could use this state-of-the-art technology to take even greater advantage of their high-performing SunPower solar power systems."

SunPower and KB Home are piloting the energy storage solutions this year in select KB Home communities in Irvine, El Dorado Hills, and San Diego, Calif., with the potential for a broader rollout to additional communities next year.

"Offering our new homebuyers highly advanced energy-efficient features is a key differentiator for KB Home, and we are proud to partner with SunPower to pilot the energy storage solutions," said Dan Bridleman, senior vice president of Sustainability, Technology and Strategic Sourcing for KB Home. "Showcasing this cutting-edge technology speaks to the strength of KB Home's partnership with SunPower and once again demonstrates KB Home's forward-thinking approach to new home innovation."

One of the first KB Home locations to participate in SunPower's energy storage pilot program is the builder's Vicenza at Orchard Hills in Irvine, a community where all KB homes will include SunPower solar power systems.

KB Home estimates that at current residential electric rates, a 1.4-kilowatt high-efficiency photovoltaic system provided by SunPower and installed as a standard part of a 3,654-square-foot, ENERGY STAR® certified home at Vicenza would yield average energy savings of $216 per month, or approximately $25,900 over ten years, compared to a typical resale home without these features.

SunPower's Werner stated last December that SunPower is also piloting energy storage solutions in Australia and Germany.

"Battery storage and energy management services are highly complementary to residential solar systems," said Werner. "Together, they help further reduce the monthly cost of energy, maximize value and energy security, and provide a hedge against rising utility costs."

About KB Home
KB Home is one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. KB Home is distinguished by its unique homebuilding approach that provides homebuyers optimal value and choice, enabling each buyer to customize their new home from lot location to floor plan, and elevation to structural options and design features. KB Home is a leader in utilizing state-of-the-art sustainable building practices. All KB homes are built to be highly energy efficient, helping to lower monthly utility costs, which the company demonstrates with its proprietary KB Home Energy Performance Guide® (EPG®). KB Home has been named an ENERGY STAR® Partner of the Year Sustained Excellence Award winner for four straight years and a WaterSense® Partner of the Year for three consecutive years. Los Angeles-based KB Home was the first homebuilder listed on the New York Stock Exchange, and trades under the ticker symbol "KBH." For more information about KB Home's new home communities, call 888-KB-HOMES or visit www.kbhome.com.

About SunPower
SunPower Corp. (NASDAQ: SPWR) 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, Africa and Asia. For more information, visit www.sunpower.com.

SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.

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SOURCE SunPower Corp.