PHOENIX (March 18, 2014) – KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced that homebuyers at all of its communities in Arizona now have the opportunity to own a solar-powered KB home. Combined with the energy-efficient features already included in all ENERGY STAR® certified new KB homes, solar power will help KB homeowners reduce their monthly energy bills by as much as 80% when compared to a typical resale home, and lower their overall cost of homeownership for years to come.
Today’s announcement advances KB Home’s commitment to building increasingly efficient homes and provides more homebuyers than ever the option to enjoy the environmental and financial benefits of solar. Solar power is already available at select KB Home communities in California, Colorado, Nevada and Texas, and KB Home estimates that the more than 2,200 solar KB homes built to date collectively help save their owners more than $1.5 million each year on electricity bills and offset the annual greenhouse gas emissions from over 1,200 passenger vehicles.
“KB Home’s long history of environmental leadership has already helped its customers save millions of dollars on energy costs, and the entire Arizona team is proud to continue that tradition of innovation by offering solar to our buyers right here in America’s sunniest state,” said Shawn Chlarson, president of KB Home’s Arizona division.
KB Home estimates that at current residential electrical rates, a 3-kilowatt high-efficiency photovoltaic system provided by SunPower (NASDAQ: SPWR) and installed on a 2,768 square foot ENERGY STAR certified home at its Alcantara Villas community in Phoenix would yield average energy savings of $216 per month, or approximately $25,000 over ten years, compared to a typical resale home without these features. Additionally, home shoppers who choose to incorporate solar in their home may also qualify for a 30% federal tax credit and $1,000 from the state of Arizona.
“There is no better time to purchase a solar system than when the home is being built,” said Matt Brost, director of sales at SunPower. “Savvy homebuyers today understand the return on investment that a high quality, solar-powered new home delivers. Solar is a great complement to the energy efficient features KB Home offers, particularly in sunny Arizona.”
KB homeowners will be able to watch in real-time as their solar panels work to lower their home’s energy usage with a Wiser™ home management system, a ‘smart home’ technology that KB Home includes in all of its new homes to help homeowners track their energy consumption. The standard system can be enhanced with additional technology that gives homeowners the power to control their home’s lighting, thermostat and security functions with the click of a button.
All KB homes are designed with state-of-the-art energy- and water-conserving features that make them some of the most efficient available today. Features like programmable thermostats, low-E windows and WaterSense labeled faucets and fixtures all contribute to the award-winning energy and water performance KB Home is proud to provide its customers.
More information about KB Home’s sustainability initiatives and Arizona communities is available online at www.kbhome.com or by calling 888-KB-HOMES.
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's signature Built to Order™ approach lets each buyer customize their new home from lot location to floor plan and design features. As a leader in utilizing state-of-the-art sustainable building practices, all KB homes are highly energy efficient and meet strict ENERGY STAR® guidelines. This helps to lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide® (EPG®). KB Home has been named both an ENERGY STAR Partner of the Year Sustained Excellence Award winner and WaterSense® Partner of the Year for three consecutive years by the EPA. 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.
For more information contact:
Craig LeMessurier, KB Home
925-983-4509 or clemessurier@kbhome.com