SunPower Commemorates Decade-Long Bed Bath & Beyond® Partnership this Earth Day with Completion of Second Solar Project at Retailer's Headquarters
Over 21 Megawatts of SunPower Solar Installed and Operating Across 41 Bed Bath & Beyond Stores and Distribution Centers in America Since 2010
SAN JOSE, Calif., April 22, 2019 /PRNewswire/ -- In 2010, SunPower (NASDAQ:SPWR) installed a 1.2-megawatt solar power system at the Bed Bath & Beyond® headquarters in Union, New Jersey. One decade later, with over 21 megawatts of SunPower® solar deployed at 41 locations across six states, Bed Bath & Beyond is continuing to expand its commitment to renewable energy by adding a nearly 500-kilowatt SunPower system at its corporate office.
To date, the Bed Bath & Beyond 41 SunPower® systems have generated over 125 million kilowatt hours (kWh) of clean, solar energy, offsetting over 88,000 metric tons of carbon dioxide emissions. This is equivalent to the carbon sequestered by 1.4 million tree seedlings grown for 10 years. Over their 25-year lifespan, it is expected that these solar projects will produce over 1 billion kWh.
"Bed Bath & Beyond continues to demonstrate a commitment to renewable energy for its business and the communities in which it operates, and we're proud to have them as such a visionary solar partner," said Nam Nguyen, SunPower Executive Vice President, Commercial Americas. "More corporations across the U.S. are choosing solar to cost-effectively meet electricity demand, and SunPower's complete solar solutions are designed to maximize value for these customers."
As Bed Bath & Beyond celebrates their 10th Earth Day as a beneficiary of clean, solar energy, the company's commitment to renewable energy remains strong. Solar power is good for the environment, while providing cost savings benefits as well, which allows improvements to operations that help Bed Bath & Beyond better serve their customers.
In 2017, Bed Bath & Beyond ranked 12th for corporate solar users in the U.S., reflecting the company's commitment to offsetting electricity consumption with renewable solar power. Over the course of 10 years, SunPower has operated and maintained the 21 megawatts of solar projects and their performance can be monitored in real-time by Bed Bath & Beyond via SunPower's EnergyLink® monitoring software. For project photos and more, visit https://access.sunpower.com/BBBearthday.
SunPower is currently the No. 1 commercial solar provider in the U.S. for the second consecutive year with the most megawatts installed according to Wood Mackenzie (formerly GTM Research). For more on why SunPower is an ideal energy partner for businesses, visit https://us.sunpower.com/commercial-solar.
About SunPower
As one of the world's most innovative and sustainable energy companies, SunPower provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.
About Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc. and subsidiaries (the "Company") is an omnichannel retailer selling a wide assortment of domestics merchandise and home furnishings which operates under the names Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat! or andThat!, Harmon, Harmon Face Values or Face Values, buybuy BABY and World Market, Cost Plus World Market or Cost Plus. Customers can purchase products either in-store, online, with a mobile device or through a customer contact center. The Company generally has the ability to have customer purchases picked up in-store or shipped direct to the customer from the Company's distribution facilities, stores or vendors. In addition, the Company operates Of a Kind, an e-commerce website that features specially commissioned, limited edition items from emerging fashion and home designers; One Kings Lane, an authority in home décor and design, offering a unique collection of select home goods, designer and vintage items; PersonalizationMall.com, an industry-leading online retailer of personalized products; and Decorist, an online interior design platform that provides personalized home design services. The Company also operates Linen Holdings, a provider of a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.
The Company operates websites at bedbathandbeyond.com, bedbathandbeyond.ca, worldmarket.com, buybuybaby.com, buybuybaby.ca, christmastreeshops.com, andthat.com, harmondiscount.com, facevalues.com, ofakind.com, onekingslane.com, personalizationmall.com, decorist.com, harborlinen.com, and t-ygroup.com.
SunPower's 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 projected energy output and cost savings. These forward-looking statements are based on our current assumptions, expectations, and beliefs and involve substantial risks and uncertainties that may cause results, performance, or achievement 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 and fluctuations or declines in the performance of our solar panels and other products and solutions. 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 report on Form 10-K, 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.
© 2019 SunPower Corporation. All Rights Reserved. SUNPOWER and the SUNPOWER are registered trademarks of SunPower Corporation in the U.S. and other countries as well. Other company logos and trademarks are the properties of their respective owners.
SOURCE SunPower Corp.
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