VACAVILLE, Calif., Aug 07, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Meritage Homes has opened a new home community in Vacaville, Calif. that features solar electric power systems from SunPower Corporation (Nasdaq: SPWR) as a standard feature. The homes are also built to exceed State and Federal energy efficiency standards by 35 percent or more. Meritage expects that the solar power systems, combined with the energy efficient features, will save homeowners up to 70 percent on their electric utility bills.
Each of the 45 homes in the new Encore Community will be equipped with a 2.3-kilowatt SunPower SunTile® system, which blends seamlessly into the roof and features the most efficient solar technology available on the market.
"Recent builder sales data has indicated that new homes equipped with the SunPower SunTile system are selling at approximately twice the rate as comparable homes in the same neighborhoods," said Bill Kelly, general manager of the New Homes Division at SunPower, a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems. "Energy prices have risen dramatically over the years. Meritage has recognized that combining high quality, energy-efficient features with solar power systems will result in substantial savings for homeowners."
To maximize energy efficiency in their homes, Meritage has included energy-saving windows and insulation, high-efficiency appliances, attic radiant barriers, low-leakage duct work, and tankless water heaters, among other features. Meritage's Encore homes meet or exceed the energy efficiency requirements of several state and federal initiatives, including:
-- the California Energy Commissions' New Homes Solar Partnership,
-- the US Environmental Protection Agency's and US Department of Energy's
Energy Star program, and
-- Building America's Zero-Energy Homes program, which is sponsored by
the US Department of Energy.
"We're very pleased to be offering these zero-energy homes in the Vacaville area," said Jeff Jacobs, vice president of Meritage Homes' Northern California/Bay Area Division. "Encore homeowners will benefit from both substantially reduced utility bills and the satisfaction that they are helping to improve the environment by using clean, renewable energy."
About Meritage Homes
Named to the Forbes Platinum 400 list for the fourth consecutive year, Meritage Homes operates in rapidly growing states of the South and West, including six of the top ten housing markets in the country. Meritage has a proven record of success throughout its history, and has enjoyed impressive growth since becoming a publicly traded homebuilder. In Northern California, Meritage offers homes in the San Francisco Bay Area and Central Valley. Visit http://www.meritagehomes-ca.com for more information.
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 Statements
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 electric utility bills for homeowners. 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 associated with homeowners' unique energy consumption rates, utility service rates, and other risks 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 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-K and Form 10-Qs. 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
Ingrid Ekstrom of SunPower Corporation, +1-510-868-1368, iekstrom@sunpowercorp.com; or Melissa Cohoon-Neece of Meritage Homes, +1-925-288-0088, melissa.cohoon@meritagehomes.com
http://www.sunpowercorp.com
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