SAN JOSE, Calif. and OAKLEY, Calif., June 18, 2020 /PRNewswire/ -- KB Home (NYSE:KBH) today announced that it is the first homebuilder to offer SunPower's (NASDAQ:SPWR) new OneRoof™ product at its Ashbury new-home community in the San Francisco Bay Area. The first-of-its-kind SunPower OneRoof system delivers an efficient, durable, attractive and cost-effective solar roofing product that is ideal for the new-home market.
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KB Home has been a pioneer in solar homebuilding for nearly 15 years. The company was one of the first national homebuilders to offer solar, well before solar became a requirement of the California Energy Code. In 2011, KB Home partnered with SunPower to introduce the homebuilder's first all-solar community, taking an early leadership position in the industry and developing an enduring partnership in the process.
SunPower has been serving homebuilders for 15 years, installing 50,000 new-home solar systems and leads in this segment, with more than 50 percent market share. During the past 18 months, SunPower's Research and Development team collaborated with KB Home to develop SunPower OneRoof. The innovative new product features interlocking metal roof trays with integrated panel clips to install SunPower solar panels directly to the roof deck. This is designed to create a watertight, impermeable solar roof. It is designed to install faster and easier than traditional rack-mounted solar systems and has passed UL tests, including the Class A Fire Rating for building-integrated solar racking. The aesthetically pleasing solar roof was designed specifically to meet the needs of California new-home solar communities and replaces concrete tile roofing materials.
"KB Home has once again demonstrated its leadership, and given our long-time partnership with the homebuilder, we are confident that OneRoof will be another successful collaboration," said Tom Werner, SunPower CEO and chairman of the board. "OneRoof is an innovative solution for homebuilders working to meet California's new-home solar mandate, as well as for other states that are considering similar policies. Given our place in the new-home market, investing in the development of a complete integrated solar system to benefit homebuilders was a priority, and we plan to incorporate OneRoof into all new-home installations."
"We are proud to have paved the way by providing energy savings potential to thousands of our homeowners through renewable solar power, which helps to lower their overall cost of homeownership and enables them to enjoy a more sustainable lifestyle," said Jeff Mezger, Chairman, President and Chief Executive Officer of KB Home. "Early on, we recognized that, through innovation and partnership with SunPower, we could create a winning solar combination for our homeowners."
Today, all KB homes are designed to meet or surpass ENERGY STAR® certification standards, meaning the homes can have substantially lower monthly utility costs when compared to typical used homes. In fact, KB Home recently announced that it has delivered over 140,000 ENERGY STAR certified new homes, a milestone that surpasses all other homebuilders. With the addition of solar to an ENERGY STAR certified home, KB homeowners can further reduce their environmental footprint and their electricity bills. To date, KB solar homes have produced an estimated total of 428 million kilowatt hours of electrical power, reducing CO2 emissions by an estimated 668 million pounds—the equivalent of removing over 64,000 cars from the road for an entire year.
For more information on KB Home's sustainability initiatives, visit kbhome.com/sustainability.
About KB Home
KB Home is one of the largest and most recognized homebuilders in the United States and has been building quality homes for over 60 years. Today, KB Home operates in 42 markets across eight states, serving a wide array of buyer groups. What sets us apart is how we give our customers the ability to personalize their homes from homesites and floor plans to cabinets and countertops, at a price that fits their budget. We are the first builder to make every home we build ENERGY STAR® certified. In fact, we go beyond the EPA requirements by ensuring every ENERGY STAR certified KB home has been tested and verified by a third-party inspector to meet the EPA's strict certification standards, which help to lower the cost of ownership and to make our new homes healthier and more comfortable than new ones without certification. We also work with our customers every step of the way, building strong personal relationships so they have a real partner in the homebuying process, and the experience is as simple and easy as possible. Learn more about how we build homes built on relationships by visiting kbhome.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.
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 project plans, 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 reports on Form 10-K and Form 10-Q, 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.
©2020 SunPower Corporation. All Rights Reserved. SUNPOWER, the SUNPOWER logo and ONEROOF are trademarks or registered trademarks of SunPower Corporation in the U.S. and other countries as well.
SOURCE SunPower Corp.
