SunPower Offering Home Solar Systems for $0 Down and "6 Months on Us"
Company Making Solar Energy More Accessible to Homeowners in a Challenging Economy Due to COVID-19 Pandemic

SAN JOSE, Calif., April 24, 2020 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) today introduced an unparalleled new solar promotion to provide energy savings and security to U.S. families in immediate need of payment flexibility.

For zero down and the first six payments covered by SunPower through a VISA Reward Card Rebate1, qualified customers can access the most efficient home solar panels on the market. This new offer is available on 20-year loans offered by SunPower or select SunPower leases signed by May 31, 2020. As with all SunPower® systems, homeowners will also benefit from the industry's most comprehensive 25-year warranty.

"Americans are facing a challenging environment right now and we want to make it easier for them to go solar, lowering their electric bills as soon as possible, while offsetting the cost of the system for six months," said Norm Taffe, executive vice president of North America Channels. "Through our online energy consultations, homeowners can access electricity savings without leaving the comfort and safety of their homes. Additionally, customers can rest assured that SunPower solar installations are completed in a safety conscious manner."

For customers wishing to purchase a solar system outright, or finance with a 10-year or 15-year loan, SunPower also announced a $1,036 VISA Reward Card rebate2 on qualifying systems. These offers ensure homeowners can access clean energy and solar savings, regardless of their needs. 

Shopping for Solar From Home

Consumers have multiple ways to easily and quickly learn about SunPower solar through innovative digital options.  

  • SunPower Design Studio can be accessed from a mobile device or computer, allowing homeowners to enter their address and estimated monthly electric bill into a special web app.
  • Operational since last summer, SunPower's fully online energy consultants work with new customers providing assistance from consultation through the contract process.

Residential Solar Business  

Last year, SunPower's U.S. residential business saw annual deployment growth of more than 15 percent bringing the total number of American homes with SunPower® solar to over 319,000. The company has:

  • Recognized an increased demand for its SunPower Equinox® platform – the only fully integrated residential solution designed, engineered and warranted by one manufacturer;
  • Expanded its leadership position in the new homes channel, partnering with 18 of the top 20 California new-home builders; and
  • Continues to raise the efficiency bar, boasting the most powerful residential solar panel in the world. The SunPower A-Series panels are built using the company's Next Generation Technology and deliver up to 420 watts for U.S. homeowners.

To learn more about SunPower's complete residential solar solutions, visit www.sunpower.com.

About SunPower
As one of the world's most innovative and sustainable energy companies, SunPower (NASDAQ:SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.

© 2020 SunPower Corporation. All Rights Reserved. SUNPOWER, the SUNPOWER logo and SUNPOWER EQUINOX are registered trademarks of SunPower Corporation in the U.S. and other countries as well. Other logos and trademarks are the properties of their respective owners.

SunPower's Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expected cost savings and product performance. These forward-looking statements are based on our current assumptions, expectations, and beliefs and involve substantial risks and uncertainties that may cause results to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include but are not limited to: regulatory changes and the availability of economic incentives promoting use of solar energy and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent report on Form 10-K, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

1 Rebate Terms: Before rebate costs will vary, depending on system specifications. Rebate amount will be based on your monthly loan or lease payment, provided in your SunPower Loan or Lease Proposal and will not include additional fees for non-ACH payments or sales taxes. Must sign solar contract on or before 5/31/2020. Check with your SunPower installation contractor to confirm participation with this offer. Valid only on systems purchased with a 20-year loan or systems leased with a 2% escalator lease offered by SunPower. Only SunPower leases in CA, NY, NJ, CT, MA, AZ, and NV qualify. You must pay your monthly loan or lease payments as directed on your Loan or Lease Agreement. Only valid on select SunPower Equinox systems with the following modules: SPR-A420-WHT-G-AC, SPR-A415-WHT-G-AC, SPR-A410-WHT-G-AC, SPR-A400-WHT-G-AC, SPR-X22-360-WHT-E-AC, SPR-X21-350-BLK-E-AC, SPR-E20-327-WHT-E-AC, SPR-X21-335-BLK-E-AC. This offer is only available to customers who purchase a new, complete SunPower system, excluding customers who purchase a new home with existing solar installed. Rebate may not be applied to quotes on existing proposals or past purchases. Cannot be combined with other offers. Rebate form at sunpowerrebate.com must be completed and submitted to SunPower with required documentation within 90 days of the final invoice date. Allow 3-7 weeks for processing. Late submissions or those submitted without proper documentation and signatures will be subject to delay or cancellation. Void where prohibited. Reward Card: SunPower Visa Reward Card issued by MetaBank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Reward Card expires six months from the date of issuance. Reward Card is subject to MetaBank's terms, restrictions, and conditions, available at: https://www.giftcards.com/terms. The Reward Card is not redeemable for cash and cannot be applied toward your lease or loan payment. This promotion is not sponsored by or endorsed by MetaBank or Visa.

2 Rebate Terms: Before rebate costs will vary, depending on system specifications. Customer must sign solar contract between May 1, 2020 and May 31, 2020. Only valid on select SunPower Equinox systems with SPR-A420-WHT-G-AC, SPR-A415-WHT-G-AC, SPR-A410-WHT-G-AC, SPR-A400-WHT-G-AC, SPR-X22-360-WHT-E-AC, SPR-X21-350-BLK-E-AC, SPR-E20-327-WHT-E-AC, or SPR-X21-335-BLK-E-AC modules and on systems purchased with cash or 10-or 15-year loan products offered by SunPower. This offer is only available to customers who purchase a new, complete SunPower system, excluding customers who purchase a new home with existing solar installed. Rebate may not be applied to quotes on existing proposals or past purchases. Cannot be combined with other offers. Rebate form at sunpowerrebate.com must be completed and submitted to SunPower with required documentation within 90 days of the final invoice date. Allow 3-7 weeks for processing. Late submissions or those submitted without proper documentation and signatures will be subject to delay or cancellation. Void where prohibited. Reward Card: SunPower Visa Reward Card issued by MetaBank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Reward Card expires six months from the date of issuance. Reward Card is subject to MetaBanterms, restrictions, and conditions, available at: https://www.giftcards.com/terms. The Reward Card is not redeemable for cash and cannot be applied toward your lease or loan payment. This promotion is not sponsored by or endorsed by MetaBank or Visa.

SOURCE SunPower Corp.

For further information: Shelby Lyles; Shelby.Lyles@SunPower.com; 408-457-2335