New Homes with Solar Selling Twice as Fast; 92 Percent of Homeowners Would
Recommend a Solar Home
SAN JOSE, Calif., June 24 /PRNewswire-FirstCall/ -- While much of the
residential real estate and building markets have faced severe challenges
in recent months, there is one area that is shining brightly. SunPower
Corporation (Nasdaq: SPWR), a Silicon Valley-based manufacturer of
high-efficiency solar cells, solar panels and solar systems, announced
today that new homes powered with SunPower solar electric power systems are
selling more than twice as fast, on average, as new homes without solar.
Additionally, a survey of owners of new homes with SunPower systems
indicates that 92 percent would recommend a new solar home to a friend.
Solar Sells Faster
SunPower has installed, or is currently installing, its high-efficiency
solar power technology in more than 75 new home communities throughout
California. A recent study conducted by The Ryness Company found that new
homes in 13 communities with SunPower solar systems were selling at an
average of 3.46 homes per month, while sales of comparable homes without
solar in adjacent or nearby communities were selling at a rate of 1.71 per
month. Comparable communities were selected based upon geographic location,
square footage and lot sizes, publicized sales prices and development
concept. The data was gathered from sales in 2006 through March 2008 from
three regions in the state.
-- In the Sacramento region, new solar homes are selling at a rate of
3.20 per month, while comparable non-solar homes are selling at a rate of
1.90 per month.
-- New solar homes in the San Francisco Bay Area are selling at a rate
of 3.24 per month, while comparable non-solar homes are selling at a rate
of 1.33 per month.
-- In the Central Valley region, new solar homes are selling at a rate
of 4.72 per month, while comparable non-solar homes are selling at a rate
of 2.37 per month.
"Homebuyers value solar systems today because they can significantly
reduce their electric bills and help reduce greenhouse gas emissions," said
Jon Nicholson, division president of Standard Pacific Homes in Sacramento.
"Families in our energy-efficient solar communities are reducing their
utility costs by up to 60 percent, and enjoy the satisfaction of generating
their own clean, renewable energy."
Satisfied Solar Home Owners
In a SunPower survey of 133 people who own new homes with SunPower
solar systems, 92 percent of respondents said they would recommend a home
with solar to a friend. Ninety percent indicated that inclusion of a solar
power system was very important or somewhat important in their decision to
buy their home. Eighty-five percent responded that they would definitely or
likely buy another solar home in the future.
Comments gathered as part of the anonymous survey included the
following:
-- "We would not have purchased the larger home had it not been for the
solar savings."
-- "We have already recommended [solar] to many of our friends."
-- "We have looked at other homes, even really liked the floor plans,
but without solar it was out of the question."
"Most of the builders we work with include the installation of
high-performing SunPower solar power systems with high-quality energy
efficiency features," said Bill Kelly, general manager, New Homes Division,
for SunPower. "This combination of solar technology and energy efficiency
results in very low utility costs for the homeowner while improving home
comfort. This is a great value for homeowners, and an investment by our
homebuilder partners towards cleaner air and a better environment."
Most homebuilders working with SunPower install the SunPower SunTile(R)
system on their homes. SunTile is a roof-integrated system that blends
seamlessly into the roof and features the most efficient solar technology
available on the market.
SunPower's survey is supported by a recently completed market research
study of new construction home buyers commissioned by the California Energy
Commission
(http://www.gosolarcalifornia.ca.gov/builders/marketing_resources/index.htm
l), which found that solar is generally seen "as a proven, reliable
technology that can pay for itself and will help reduce global warming." In
addition, nearly all respondents consider residential solar power systems
to be "user-friendly" and "low maintenance."
SunPower works with homebuilders such as Centex, Standard Pacific, The
Olson Company, and Woodside Homes.
About SunPower
SunPower Corporation (Nasdaq: SPWR) designs, manufactures and delivers
high-performance solarelectric 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 the Private Securities Litigation Reform Act of 1995, Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements are statements that do not
represent historical facts. The company uses words and phrases such as
"would," "can," and "will," 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: (a) installing solar power systems in more than 75
new home communities throughout California; (b) reducing electric bills by
up to 60 percent; (c) lowering greenhouse gas emissions; (d) recommending a
home with solar to a friend or buy another home with solar; (e) systems
paying for themselves; and (f) reducing global warming. These
forward-looking statements are based on information available to the
company as of the date of this release and management's current
expectations, forecasts and assumptions, and involve a number of risks and
uncertainties that could cause actual results to differ materially from
those anticipated by these forward-looking statements. Such risks and
uncertainties include a variety of factors, some of which are beyond the
company's control. In particular, risks and uncertainties that could cause
actual results to differ include: (i) construction difficulties or
potential delays in the project implementation process; (ii) unanticipated
delays or difficulties securing necessary permits, licenses or other
governmental approvals; (iii) the risk of continuation of supply of
products and components from suppliers; (iv) unanticipated problems with
deploying the systems on the sites; (v) the actual energy generation; (vi)
the actual energy consumption rate; (vii) unexpected changes in utility
service rates; (viii) variations in carbon dioxide emissions reductions;
(ix) continued customer satisfaction; and (ix) other risks described in the
company's Quarterly Report on Form 10-Q for the quarter ended March 30,
2008, and other filings with the Securities and Exchange Commission. These
forward-looking statements should not be relied upon as representing the
company's views as of any subsequent date, and the company is under no
obligation to, and expressly disclaims any responsibility to, update or
alter its forward-looking statements, whether as a result of new
information, future events or otherwise.
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.
[Via Real Estate California]
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