SACRAMENTO, Calif., Oct 11, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- This weekend, Sacramento-based homebuilder Tim Lewis Communities is opening Amberleigh at Madeira, a new community of energy-efficient, solar-powered homes in Elk Grove, Calif. The planned 61 homes will feature building-integrated solar-electric power systems from SunPower Corporation (Nasdaq: SPWR), a Silicon Valley-based manufacturer of high-efficiency, commercially available solar cells, solar panels and solar systems. Tim Lewis Communities expects that the solar power systems, combined with the energy-efficient features, will save homeowners up to 60 percent on their electric utility bills.
Each of the new homes will be equipped with a 2.3-kilowatt SunPower SunTile(R) system that blends seamlessly into the roof and features the most-efficient solar panels available on the market.
"Recent studies have indicated that new homes equipped with SunPower systems are selling at about twice the rate as comparable homes in the same neighborhoods," said Bill Kelly, general manager of the New Homes Division at SunPower. "Energy prices are increasing, and Tim Lewis Communities recognizes that combining high-quality, energy-efficient features with SunPower systems will result in significant savings for homeowners."
The homes at Amberleigh are California Green Builder(TM) certified, which means they have met strict energy and water efficiency standards that are verified by third-party inspectors. With prices starting in the mid-$400,000 range, they feature from three to six bedrooms and two to three-and-one-half bathrooms, with sizes ranging from 2,014 to 3,100 square feet. Some of the energy efficient features in the homes include:
-- Energy Star(R) rated appliances -- Water conserving toilets, faucets and shower heads -- Sherwin-Williams low VOC (volatile organic compound) paint -- Weatherproof protection around all windows and polyseal protection around exterior doors -- Full exterior weather stripping -- Water saving landscape design and irrigation controls -- Insulated exterior stucco system -- High efficiency air filtering for improved indoor air quality
"The unique homes at Amberleigh are the product of our commitment to green building and helping the environment," said Tim Lewis, president of Tim Lewis Communities. "Built standard with high energy efficiency features and designed with integrated solar roof tiles, Amberleigh homes will deliver substantial savings to homeowners on their energy bills, while helping save our environment."
At this community and one other in the area, the Sacramento Municipal Utility District (SMUD) is partnering with Tim Lewis Communities as part of the electric utility's SolarSmart program. As a partner, SMUD provides the builder with incentives that reduce the cost of the solar electric systems as well as rebates for energy efficiency upgrades. These rebates and incentives, along with attractive tax credits, make solar electric systems a more affordable feature for more homebuyers.
For complete information on Amberleigh at Madeira, please visit http://www.TimLewis.com.
About Tim Lewis Communities
Tim Lewis Communities is a Northern California tradition ... a Sacramento area homebuilder with more than 25 years of experience crafting homes of solid value and exceptional design for hundreds of satisfied homeowners. In September, J.D. Power and Associates announced that Tim Lewis Communities ranked highest in overall customer satisfaction and new home design with new home builders in the Sacramento market. Visit http://www.TimLewis.com for more information.
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).
About The Sacramento Municipal Utility District (SMUD)
As the nation's sixth largest publicly owned utility, SMUD has been providing low-cost, reliable electricity for more than 60 years to Sacramento County (and a small portion of Placer County). SMUD is a recognized industry leader and award winner for its innovative energy efficiency programs, renewable power technologies, and for its sustainable solutions for a healthier environment. For more information, visit http://www.smud.org.
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 "expect," "plan," "will," 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 energy bills, completing the construction of 61 homes, and the planned installation of 2.3 Kilowatt SunPower SunTile systems for each home. 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 construction difficulties or potential slowdowns in the residential construction or real estate markets; unexpected changes in energy costs, and other 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.
SOURCE SunPower Corporation
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