SANTA ROSA, Calif., Jul. 25, 2007 /PRNewswire/ -- Homebuilder Hugh Futrell Corporation and SunPower Corporation (NASDAQ: SPWR), a manufacturer of high-efficiency solar cells, solar panels and solar systems, today announced the opening of Bridge Trail at The North Village, Sonoma County's first solar-electric new home community.
Each of the 43 homes at Bridge Trail features a 1.9 kilowatt SunPower rooftop solar panel system, which is expected to save homeowners 50 percent to 75 percent on their monthly electric bills. Additionally, the solar electric power systems qualify homebuyers for a one-time federal tax credit of up to $2,000. Over 30 years, each Bridge Trail home will offset the production of 39,500 pounds of carbon dioxide, which is equivalent to planting 30 acres of trees or not driving 49,000 miles on California's highways.
"Solar power is good for the environment and our communities. It's reliable and produces no greenhouse gases or noise," said Hugh Futrell, president of Hugh Futrell Corporation. "Including solar power in these new homes is the right thing to do for the environment, and we are pleased to offer solar as a standard feature to the new homebuyers in Sonoma County with our Bridge Trail new home community."
"The Hugh Futrell Corporation has chosen the most efficient solar technology in the world to power these homes," said Bill Kelly, general manager of the New Homes Division at SunPower. "As a result, Bridge Trail homeowners will achieve significant savings on their utility bills while generating their own clean, renewable power."
Homes in the Bridge Trail community are also equipped with natural-gas-powered tankless hot water heaters that will save up to 50 percent of the energy normally required to heat the same amount of water with a storage tank water heater. Bridge Trail offers outdoor amenities such as 11 acres of adjacent private open space and trails, a planned new two-acre public park and very close proximity to soccer and softball fields at the new Jack London Elementary and Piner Olivet Charter Middle School. In addition, Bridge Trail homeowners will be able to take advantage of a private 4,000-square-foot community center, which will work with neighborhood schools and Santa Rosa's Parks and Recreation Department to provide unique learning and recreational programs for North Village residents.
About Hugh Futrell Corporation
More than 25 years of experience have made Hugh Futrell Corporation one of the premier builders of single-family and condominium residential neighborhoods, downtown mixed-use developments, rental communities and office and retail buildings throughout Sonoma County and the North Bay. The company has shown leadership and vision in its downtown Santa Rosa building contributions and projects like Bridge Trail. For more information, visit http://www.hughfutrellcorp.com/.
About SunPower
SunPower Corporation (NASDAQ: SPWR) 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, Section 21E of the Securities Exchange Act of 1934 and 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, the company's plans and expectations regarding lower energy usage by homeowners and corresponding savings on monthly electric bills, offset production of carbon dioxide, and availability of the planned community center and its ability to offer unique learning and recreational programs. Such statements are based on our current expectations as of the date of this press release, which could change or not materialize as expected. Our actual results may differ materially due to a variety of uncertainties and risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2006, our Quarterly Report on Form 10-Q for the quarter ended April 1, 2007, and other filings with the Securities and Exchange Commission. You should also carefully review the reports that we file with the Securities and Exchange Commission, including without limitation such Form 10-K and 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:
FCMN Contact:
SOURCE: SunPower Corporation
CONTACT: Ingrid Ekstrom of SunPower Corporation, +1-510-868-1368,
iekstrom@sunpowercorp.com; or Stan Paule of Hugh Futrell Corporation,
+1-707-331-0024, stanp@hughfutrellcorp.com
Web site: http://www.sunpowercorp.com/
http://www.hughfutrellcorp.com/