LONG BEACH, Calif., Sep. 26, 2007 /PRNewswire/ -- Today at the Solar Power 2007 conference, Lennar Corporation's Sacramento Division will receive the Solar Electric Power Association's (SEPA) 2007 Award for Solar Business Achievement in the category of "Partnering for Success." Lennar is being recognized as a leader in building new homes equipped with solar power, and for securing its leadership position through partnerships with SunPower Corporation (NASDAQ: SPWR) and utility providers PG&E, Roseville Electric and the Sacramento Municipal Utility District (SMUD).
In the Sacramento region, the homebuilder has planned to build 18 Lennar SOLARplus communities, representing nearly 2,000 new homes with solar power systems. Each home is equipped with a SunPower SunTile® solar power system as a standard feature. The SunTile system integrates with the roof construction and features the highest efficiency solar cells available on the commercial market. In addition to the solar power systems, Lennar incorporates energy-efficient features into these homes, further reducing monthly home energy bills.
"For homeowners, the benefits of Lennar's energy-efficient homes with solar are two-fold: they can achieve significant savings on their utility bills and they can feel good about producing their own clean, renewable energy," said Bill Kelly, general manager of SunPower's New Homes division. "As a result, it's not surprising that sales of Lennar's SOLARplus homes have been outpacing neighboring, comparable homes without solar power systems."
"The SunPower solar power systems are well integrated into our homes' design and look great. They operate simply, requiring no effort by our customers to enjoy the monthly savings," said Jeff Panasiti, president of Lennar Homes' Sacramento division. "As a builder, including roof integrated solar in the homes' construction makes great sense. We're very pleased to receive this recognition from SEPA for our efforts and those of our valued partners."
As a result of its success in the Sacramento area, more Lennar Divisions are investigating how they can incorporate solar in their new offerings. Lennar's Bay Area Division is working with PG&E and recently announced that all of its new homes will include solar. Lennar opened its first solar community of 77 homes in February.
About Lennar Corporation
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides primarily mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website, http://www.lennar.com/.
SunPower Corp. designs, manufactures and delivers high-performance solar-electric systems worldwide for residential, commercial and utility-scale power plant customers. SunPower high-efficiency solar cells and solar panels generate up to 50 percent more power than conventional solar technologies and have a uniquely attractive, all-black appearance. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe and Asia. For more information, visit http://www.sunpowercorp.com/. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).
Forward Looking Statement
This press release contains 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, and as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts. We use words such as "will," "expect," and similar expressions to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, our plans and expectations regarding reduced utility bills. Such statements are based on our current expectations as of the date of the release, which could change or not materialize as expected. Actual results may differ materially due to a variety of uncertainties and risk factors, including but not limited to risks described our Quarterly Report on Form 10-Q for the quarter ended July 1, 2007, and other filings with the Securities and Exchange Commission. You should also carefully review reports that we file with the Securities and Exchange Commission, including without limitation such Form 10-Q. Except as required by law, we assume no obligation to update any such forward-looking statements.
SunPower is a registered trademark of SunPower Corp. Cypress is a registered trademark of Cypress Semiconductor Corp. All other trademarks are the property of their respective owners.
First Call Analyst:
SOURCE: SunPower Corporation
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