ConEdison Solutions and SunPower Launch Residential Solar Power Leasing Program in New York State

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Jul 28, 2015, 08:30 ET

VALHALLA, N.Y. and SAN JOSE, Calif., July 28, 2015 /PRNewswire/ -- ConEdison Solutions, one of America's largest energy services companies and a prominent developer of renewable projects for businesses and government, and SunPower (Nasdaq: SPWR), a leading global provider of solar technology and services, have joined forces to offer New York State homeowners the opportunity to lease high efficiency SunPower^® solar power systems. The companies have launched the program and expect to begin adding customers in August.

"Increasing numbers of New York families are choosing solar leases, and we want to make their decision as easy as possible. We are combining the strength of our trusted brands to meet the demand for reliable, rooftop solar solutions," said Michael Perna, Vice President of ConEdison Solutions. "Through this residential lease program, homeowners may save on their electricity from day one after activation, with no upfront costs. They'll also be helping reduce carbon emissions by increasing the use of clean, reliable solar power in our communities."

ConEdison Solutions will own the leased systems and collect monthly lease payments from homeowners for terms up to 20 years. SunPower will provide a 20-year limited warranty and production guarantee for each system.

"With high quality SunPower systems, ConEdison Solutions' customers can depend on a high level of energy assurance compared to systems using conventional solar technology," said Howard Wenger, SunPower president, business units. "More than 27,000 U.S. homeowners are leasing SunPower solar power systems today. We are pleased to team with ConEdison Solutions to extend the program and make solar accessible to more New York families."

With outstanding reputations within the New York market, the two firms are poised for success with New York residential customers. Their partnership leverages both the financial savings that solar power can deliver and its contribution to sustainability and environmental preservation.

ConEdison Solutions, one of the most widely trusted brands in energy, is partnering with SunPower to offer a first-class customer experience and the most efficient and reliable solar technology available today. Together they'll combine SunPower's leading products with ConEdison Solutions' experience in New York energy markets to deliver a solar solution that customers will value and benefit from.

ConEdison Solutions has an extensive record of achievement in renewable energy development with customers around the country, having delivered customer-sited solar and wind projects from Massachusetts to California for businesses, schools and municipalities.

SunPower and ConEdison Solutions worked together at Boston Scientific Corporation, for example, to develop a 1.28 megawatt, 3,900-panel rooftop solar installation on top of the firm's international distribution center in Quincy, Massachusetts.

About ConEdison Solutions

ConEdison Solutions is a leading energy services company that provides competitive electricity and natural gas supply, renewable energy, sustainability services, cost-effective energy efficiency solutions, and energy performance contracting. The company serves commercial, industrial, residential and government customers, including universities, public school districts, and hospitals nationwide. Offering innovative products, financial stability, and a commitment to customer service, the company is based in Valhalla, New York, with offices in Burlington, Massachusetts; Cherry Hill, New Jersey; Falls Church, Virginia; Houston, Texas; Tampa, Florida; Overland Park, Kansas; Nashville, Tennessee; and Bloomington, Minnesota. The firm's dedicated team of energy professionals delivers a broad range of energy solutions. ConEdison Solutions offers programs and services designed to help customers achieve their individual energy objectives and is accredited as an Energy Services Provider (ESP) by the National Association of Energy Service Companies (NAESCO).

ConEdison Solutions is a subsidiary of Consolidated Edison, Inc. (NYSE: ED). More information can be obtained by calling 1-888-210-8899 or visiting the ConEdison Solutions website at www.conedsolutions.com. You can also visit the Consolidated Edison, Inc. website at http://investor.conedison.com for information on all of the Consolidated Edison companies.

About SunPower Corporation

SunPower Corp. (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on SunPower's 30 years of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North and South America, Europe, Australia, Africa and Asia. For more information, visit www.sunpower.com.

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SOURCE SunPower Corp.