SunPower Corporation Launches X-Series Solar Panels for Japan's Rooftop Market

TOKYO, July 28, 2015 /PRNewswire/ -- SunPower Corporation (Nasdaq: SPWR), a global solar technology and energy services provider, announced today at PV Japan 2015 that the company is making its X-Series Solar Panels available in Japan in early 2016. The X-Series is a product line for the rooftop market that offers an unprecedented 21.2 percent nameplate efficiency. Compared with conventional solar panels, X-Series panels deliver approximately eight to ten percent more energy per rated watt and approximately 70 percent more energy production over the first 25 years.

"Elegant, all-black solar panels from SunPower Corporation offer superior aesthetics, and the high efficiency of our panels is ideal for customers with limited roof space," said Howard Wenger, SunPower Corporation president, business units. "Building owners may achieve faster return on investment by generating more power per square meter on the roof, and they can count on the long-term reliability of solar panels by SunPower Corporation."

The U.S. Department of Energy's National Renewable Energy Laboratory (NREL) has verified the world-record efficiency of the X-Series panels. The panels are also certified by the Japan Electrical Safety and Environment Technology Laboratories (JET).

X-Series solar panels are made with third-generation Maxeon® solar cells by SunPower Corporation, which are built on a solid copper foundation for high reliability and performance. This foundation makes them virtually impervious to the corrosion and cracking that typically degrade conventional panels. As a result, solar panels by SunPower Corporation are backed by the industry's first combined 25-year product and power warranty.

Features of the X-Series that make them especially well-suited to Japanese roofs include:

• Superior low-light and spectral response, generating electricity earlier in the morning and longer in the evening than conventional panels
• Excellent performance at high temperatures, allowing for more electricity generation on hot rooftops
• Enhanced energy production, compared to conventional panels, in conditions of partial or temporary shading or soiling

The X-Series will be available in Japan in 2016 in a 345-watt model. The X-Series panels join the E20 Series Solar Panels by SunPower Corporation, offering customers a choice of high efficiency products from the company.

For more information, visit SunPower at PV Japan this week at booth P1-503 or go to www.maxeonsolar.jp.

About SunPower Corporation
SunPower Corporation (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 SunPower's 30 years 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 and South America, Europe, Australia, Africa and Asia. For more information, visit www.maxeonsolar.jp.

"©2015 SunPower Corporation. All rights reserved. MAXEON is a registered trademark of SunPower Corporation in Japan and other countries as well.

FORWARD-LOOKING STATEMENTS
This press release contains certain statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are generally identifiable by the use of words like "believe", "may," "will," "should," "expect," "intend," "plan," "anticipate," or "continue," the negative of these words, other terms of similar meaning or the use of future dates. Forward-looking statements in this release include without limitation statements regarding the expected timing of the availability of the X-Series Solar Panels in Japan, and statements regarding the future operation, direction and success of SunPower Corporation's business. Such statements are qualified by the inherent risks and uncertainties surrounding future expectations generally, and actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Such risks and uncertainties include: 1) uncertainties as to events that may delay the release of the X-Series Solar Panels in Japan; 2) the possibility that various conditions for that release may not be met; 3) the effects of disruptions in the supply or distribution chain; 4) other business effects, including the effects of industry, economic or political conditions outside of the control of SunPower Corporation; 5) transaction costs; 6) actual or contingent liabilities; and 7) other risks and uncertainties discussed in SunPower Corporation's filings with the U.S. Securities and Exchange Commission, including the Risk Factors sections of SunPower Corporation's most recent annual report on Form 10-K and subsequent quarterly report on Form 10-Q. SunPower Corporation does not undertake any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. All forward looking statements in this release are qualified in their entirety by this cautionary statement.

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SOURCE SunPower Corp.

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