SunPower Introduces its Record-Breaking Efficiency Solar Panel for Residential Customers During Intersolar Europe 2018

The 22.7-Percent Efficient X-Series Solar Panel Offers Unsurpassed Performance, Reliability and Aesthetics

News provided by

Jun 18, 2018, 03:05 ET

SAN JOSE, Calif., June 18, 2018 /PRNewswire/ -- SunPower (NASDAQ:SPWR), one of the world's most innovative and sustainable energy companies, will formally introduce its highest efficiency X-Series residential solar panel this week during Intersolar Europe in Munich, Germany. At 370-watts and 22.7-percent efficiency, it is the most efficient solar panel that customers can buy for their home today.

"Building on over 30 years of experience and more than 9 gigawatts of solar generating clean energy worldwide, SunPower continues to raise the bar with record-setting solar technology," said Gabi Bunea, SunPower vice president, research and development. "By engineering greater efficiency solar panels, we can fit more watts on the roof in the same amount of space when compared to conventional solar, offering customers the best value for energy."

The 370-watt X-Series solar panel offers 60 percent more power than a conventional solar panel from the same amount of roof space over 25 years. It only takes 15 SunPower panels to produce as much energy as 22 conventional panels, which means homeowners require fewer panels to generate an equal amount of electricity. Made with third-generation SunPower® Maxeon® solar cells that are built on a solid metal foundation for high reliability and performance, SunPower panels are virtually impervious to the corrosion and cracking that typically degrade conventional panels allowing the company to offer an industry-leading 25-year Combined Power and Product Warranty.

"In mature solar markets such as Europe, our customers expect high-quality, proven technology, and we're meeting those demands with SunPower's record-setting solar panels," said Chris de Jong, director of Netherlands' Isogoed Duurzaam Besparen B.V. and one of SunPower's 1,400 installation partners operating around the world. "We look forward to helping more homeowners save on monthly electric bills with a growing range of high-efficiency, reliable solar solutions from SunPower."

In addition, this year SunPower is expanding its suite of residential solar solutions for homeowners in EMEA and parts of APAC with the P-19 Series (P-19) solar panel offering 19 percent efficiency, which is currently available to commercial customers in select APAC markets. Engineered with the same innovative shingled cell design as the 17-percent efficient P-Series solar panel used in commercial applications, P-19 uses monocrystaline PERC solar cells to generate up to 32 percent more energy in the same space over 25 years when compared to conventional panels. The P-19 solar panel is a lower cost option compared to SunPower's E-Series and X-Series panels, yet still delivers high quality and reliability to customers, and is also backed by SunPower's 25-year Combined Power and Product Warranty.

Visit booth A2.171 at Intersolar Europe in Germany from June 20 to 22 to speak with a SunPower expert or view the solar technology in person. To find out if the new 370-watt X-Series and P-19 solar panels are available in your area, contact your nearest SunPower installer or visit www.sunpower.com.

About SunPower
As one of the world's most innovative and sustainable energy companies, SunPower (NASDAQ:SPWR) 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, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.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, cost savings, and product performance availability and efficiency. 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, competition and market conditions in the solar and general energy industry, 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 reports on Forms 10-K and 10-Q, particularly under the heading "Risk Factors." A copy of this filing is 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.

© 2018 SunPower Corporation. All Rights Reserved. SUNPOWER, the SUNPOWER logo and MAXEON are registered trademarks of SunPower Corporation in the U.S. and other countries as well. All other trademarks and logos are properties of their respective owners.

SOURCE SunPower Corp.