SAN JOSE, Calif., March 1, 2022 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, and Landsea Homes Corporation (Nasdaq: LSEA), a publicly traded residential homebuilder, today announced a multi-year exclusive agreement in which SunPower will be the only provider of solar technology to Landsea Homes across the nation. With this new relationship, all homes built by Landsea Homes in California will include a SunPower Equinox® home solar system designed to offset the home's energy consumption. Additionally, homebuyers in Arizona, Florida and Texas will have the option to add this technology to their new homes.
Over the next ten years, distributed generation including rooftop solar must grow four times faster than in the previous decade to reach the nation's climate and energy goals, according to The U.S. Department of Energy's Solar Futures Study. To meet this demand, Landsea Homes, working with SunPower, will provide homebuyers the ability to generate their own clean energy with home solar systems, while saving money on electricity and reducing carbon emissions. Homeowners can also add on SunPower's battery storage to provide additional electricity savings as well as resilience during power outages.
"Both builders and homebuyers are demanding homes that cost less to operate and create less carbon emissions," said Matt Brost, Senior Director of New Homes sales for SunPower. "Designing homes with solar and storage from the onset allows people who might not have had the opportunity to support clean energy to not only take part in it but also receive direct financial benefits from it. Our innovative partnership with Landsea Homes highlights how homebuilders can be a powerful tool to enact change."
SunPower Equinox provides solar-equipped Landsea Homes buyers with peace of mind and generates more power in less space than traditional solar electric systems.
SunVault batteries are made with lithium iron phosphate chemistry designed to be safer and more resistant to heat and oxygen exposure than typical lithium-ion batteries. Homebuyers can elect to either purchase the systems or take advantage of SunPower's affordable financing options.
"This is the latest example of how Landsea Homes continues to lead our industry with innovative solutions that directly benefit our homebuyers," said Pete Beucke, Vice President of Innovation and Sustainability, Landsea Homes. "The opportunity to create a more sustainable lifestyle and help transition to clean energy is the goal of our High Performance Homes, and this agreement with SunPower allows us to achieve that."
For more information on SunVault energy storage, visit: https://us.sunpower.com/home-solar/solar-battery-storage.
For more information about Landsea Homes, visit https://landseahomes.com/.
About Landsea Homes
Landsea Homes Corporation (Nasdaq: LSEA) isa publicly traded residential homebuilder based in Newport Beach, CA that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation's most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, Florida, Texas and throughout California in Silicon Valley, Los Angeles and Orange County.
An award-winning homebuilder that builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities, Landsea Homes is known for creating inspired places that reflect modern living and provides homebuyers the opportunity to "Live in Your Element®." Our homes allow people to live where they want to live, how they want to live – in a home created especially for them.
Driven by a pioneering commitment to sustainability, Landsea Homes' High-Performance Homes are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple®. Homes include features that make life easier and provide energy savings that allow for more comfortable living at a lower cost through sustainability features that contribute to healthier living for both homeowners and the planet.
Led by a veteran team of industry professionals who boast years of worldwide experience and deep local expertise, Landsea Homes is committed to positively enhancing the lives of our homebuyers, employees, and stakeholders by creating an unparalleled lifestyle experience that is unmatched. For more information about Landsea Homes, visit http://www.landseahomes.com.
About SunPower
Headquartered in California's Silicon Valley, SunPower (NASDAQ:SPWR) is a leading Distributed Generation Storage and Energy Services provider in North America. SunPower offers the only solar + storage solution designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners, businesses, governments, schools and utilities. For more information, 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 expected project plans, product performance, cost savings, and energy markets. 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.
©2022 SunPower Corporation. All Rights Reserved. SUNPOWER, the SUNPOWER logo, SUNPOWER EQUINOX and SUNVAULT are trademarks or registered trademarks of SunPower Corporation in the U.S.
SOURCE SunPower Corporation
