IKEA U.S. and SunPower Launch Home Solar Offering in California

IKEA Family loyalty members now have exclusive access to high-quality and affordable SunPower home solar system packages

CONSHOHOCKEN, Pa., Sept. 12, 2022 /PRNewswire/ -- To continue its ambition to make sustainable living more accessible and affordable, IKEA U.S. has teamed up with SunPower Corp. (NASDAQ: SPWR), a leading solar technology and energy services provider, to make home solar energy solutions easier to access in select California locations beginning today. Members of the IKEA Family customer loyalty program will be able to purchase home solar solutions, available through SunPower^®, to generate and store their own renewable energy and live more sustainably.

"Our vision is to create a better everyday life for the many people, and we believe those lives are truly better when they are lived sustainably," said Javier Quiñones, CEO & Chief Sustainability Officer, IKEA U.S. "We are delighted to join the list of global IKEA markets that provide access to home solar and energy solutions, and we will continue to collaborate with our partners to showcase offerings that have a positive impact on people and our planet."

Customers can learn more about the home solar offering in IKEA California stores and online, and then work directly with SunPower to access solar energy packages developed specifically for IKEA Family loyalty members. The four packages include various combinations of solar, energy storage and electric vehicle (EV) charging. Each of the offerings include a SunPower Equinox^® Solar System; access to the mySunPower^® app to monitor energy production or manage storage use; and SunPower's Complete Confidence Warranty¹ consisting of a 25-year limited warranty for panels, including coverage for power, product and labor, and a 10-year limited warranty for the monitoring device and storage system.

With SunPower, making the switch to renewable energy at home can be completed in five simple steps:

1. Assessment: A SunPower Solar Advisor will assess the customer's electricity bills, energy goals, and roof configuration so they can design a custom solar package to meet their needs. 
2. Quote: SunPower will provide a proposed system design based on the customer's needs as well as financial products and incentives that may be available to them.
3. Site Verification: A SunPower installation professional will visit the home to assess the roof and ensure the system is designed to optimize solar production. Updates will be made to the final proposal to reflect any changes needed.
4. Installation: Once the proposal is signed, SunPower will work with the customer from installation to activation.
5. Enjoy the Sun: Sit back and enjoy the benefits of having solar.

"To power more homes with clean, reliable and affordable energy, we need to make the process of switching to renewables convenient and easy," said Peter Faricy, SunPower CEO. "We're proud IKEA selected SunPower to bring the many benefits of solar to its customers, and we look forward to making their energy transition seamless. There has truly never been a better time to go solar."

Interested IKEA Family members in select California locations may visit IKEA-USA.com/solar where they will be prompted to sign into their IKEA Family account. They will then be redirected to the SunPower website and instructed to enter additional information to start the assessment process. Additionally, customers may visit any of the eight IKEA California stores (Emeryville, East Palo Alto, West Sacramento, Burbank, Carson, Covina, Costa Mesa and San Diego) to get more information through the home solar kiosk located in the IKEA Sustainability Shop.

In addition to the select California locations in the U.S., IKEA makes home solar and energy services accessible in Australia and 10 markets in Europe including Belgium, France, Germany, Italy, Netherlands, Spain, Sweden, Switzerland, Poland and Portugal. The company has a robust renewable energy portfolio², including rooftop solar arrays on 90 percent of IKEA U.S. locations. Ingka Group, a strategic partner in the IKEA franchise system, has invested in two solar parks with 403-megawatt capacity in Utah and Texas and two wind farms producing 859 million kWh of energy in Illinois and Texas.

At IKEA, the vision is to create a better everyday life for the many people by offering well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment. Ingka Group (Ingka Holding B.V. and its controlled entities) is one of 12 different groups of companies that own and operate IKEA retail under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Ingka Group is a strategic partner in the IKEA franchise system, operating 389 IKEA stores in 32 countries – including 51 retail locations in the U.S.  

For more information on IKEA U.S., see IKEA-USA.com, @IKEAUSANews, @IKEAUSA or IKEAUSA on Facebook, YouTube, Instagram and Pinterest. 

SunPower (NASDAQ: SPWR) is a leading solar, storage and energy services provider in North America. SunPower offers the only solar + storage solution designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners. For more information, visit www.sunpower.com.

SunPower Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding anticipated cost savings and business plans. These forward-looking statements are based on our current assumptions, expectations, and beliefs and involve substantial risks and uncertainties that may cause results to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory changes and the availability of economic incentives promoting use of solar energy, fluctuations or declines in the performance of our solar panels and other products and solutions, and challenges managing our strategic relationships and partnerships, including our ability to successfully manage collaboration and supplier relationships. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

¹ For more information about SunPower's warranty, visit https://us.sunpower.com/home-solar-system-warranty.

² Find more details about renewable energy investments in the IKEA Sustainability Report FY21.

SOURCE IKEA

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