SunPower Solar Systems Powered Up at Eight Whole Foods Market Locations Across California and Nevada

Integrated Battery Storage Expected to Significantly Reduce One Store's Electricity Demand Charges

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Jun 24, 2019, 08:05 ET

SAN JOSE, Calif., June 24, 2019 /PRNewswire/ -- SunPower (NASDAQ:SPWR) today announced that more than 2.6 megawatts of SunPower® solar projects are installed and operating at eight Whole Foods Market locations across two states, with one site combining an integrated storage system. These projects are expected to help the natural and organic grocer replace 25 percent of traditional grid energy use on average per store.

A SunPower Helix Roof solar project is delivering clean electricity to the Santa Rosa Whole Foods Market where a Helix Storage system is also installed to further decrease demand charges for the organic grocer.

The California Whole Foods Markets with SunPower solar are in Cupertino, Fremont, Los Altos, Roseville, San Jose, Santa Clara, and Santa Rosa. The Santa Rosa location also has a 483-kilowatt (900-kilowatt hour) Helix® Storage system installed to further decrease demand charges, backed by a SunPower demand savings guarantee. Combined with a solar system operating at a store in Reno, Nevada, these projects are expected to generate more than 3.9 million kilowatt hours of electricity annually. This is equivalent to the amount of carbon dioxide emissions reduced by switching nearly 98,000 incandescent lamps to LEDs according to the U.S. Environmental Protection Agency's carbon footprint calculator.

"We are thrilled to work together with Whole Foods Market as they make critical investments in solar and storage to positively impact their community and the planet," said Nam Nguyen, SunPower executive vice president, commercial solar. "Like Whole Foods Market, more companies across the U.S. are choosing SunPower's complete Helix solar and storage solutions to save costs and more efficiently manage their energy use."

SunPower designed, installed, and is operating the eight solar projects for Whole Foods Market. An additional 2 megawatts are planned across another 11 stores in California, expected to be online in early 2020.

"Since we opened our first store in 1980, Whole Foods Market has been an industry leader in environmental sustainability and energy management," said Aaron Daly, global director of energy management at Whole Foods Market. "These solar projects from SunPower support our core value of advancing environmental stewardship in the communities where Team Members and customers work and live."

As the No. 1 commercial solar provider in America, SunPower continues to leverage its market-leading storage experience that enables businesses like Whole Foods Market to maximize their solar investment. After a little more than one year on the market, interest in Helix Storage remains high with a pipeline exceeding 110 megawatts and attach rates of greater than 35 percent. To learn more, visit www.sunpower.com/commercial.

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 project plans and timelines, projected energy output and relative generating capacity, 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, challenges inherent in constructing certain of our large projects, 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 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.

SOURCE SunPower Corp.