SAN JOSE, Calif., Sept. 5, 2017 /PRNewswire/ -- SunPower
(NASDAQ:SPWR) today announced the launch of the solar industry's
best warranty, guaranteeing power performance and product quality
for 25 years, through extreme weather, wide-ranging temperatures,
panel aging and more. The new warranty makes SunPower® E- and
X-Series solar panels among the safest long-term energy investments
for businesses, homeowners and utilities thanks to the industry's
lowest power degradation rate, meaning that SunPower panels deliver
more electricity – and consequently more savings – over time.
Because SunPower panels are built to work reliably for decades,
the company now guarantees at least 98 percent power for the first
year, followed by a maximum degradation rate of 0.25 percent each
year thereafter for 24 years. This results in an unprecedented 92
percent power level at the end of 25 years compared to conventional
solar panels which guarantee only 80 percent after 25 years.
SunPower pioneered the industry's first 25-year Combined Power
and Product Warranty in 2012, and continues to back the high power,
reliability and value of its products.
"We believe the best warranty starts with having the best
product," said Tom Werner, SunPower
President and CEO. "Our proven performance is validated by our
customers' results, as well as extensive field testing under a wide
range of real-world conditions, well beyond traditional industry
specifications. SunPower stands behind its products so that
customers have confidence and peace of mind when they choose
SunPower to go solar."
In partnership with the National Renewable Energy Laboratory
(NREL), the U.S. Department of Energy's primary national laboratory
for renewable energy and energy efficiency research and
development, SunPower has developed a robust method to calculate
solar panel degradation. Degradation is something all solar panels
experience, but at varying rates. When this method was applied to
eight years of energy performance data from 264 SunPower solar
systems operating at various locations worldwide, it shows that
SunPower panels degrade less than 0.25 percent per year – 50
percent less than the annual degradation rate for conventional
panels.
With a long-term investment like solar, an efficient, reliable
product backed by a best-in-class warranty shortens the payback
period, providing an attractive offering and peace of mind for
customers, partners and financiers.
"Bank of America Merrill Lynch has a strong commitment to
advancing renewable energy generation and plays a leading role in
funding solar projects that help our world transition to a
low-carbon economy," said Todd
Karas, head of Renewable Energy Finance at Bank of America
Merrill Lynch. "When selecting solar technology to finance, a
reliable product supported by a robust warranty is of critical
importance."
Unlike conventional solar warranties that typically cover just
the panels, SunPower's Complete Confidence Warranty also
includes the servicing needed to repair or replace defective parts
when panels are installed by one of SunPower's 1,300 Authorized
Installers worldwide.
For residential solar customers, the new coverage provides
25-year protection for every core component of the SunPower
Equinox™ system. Introduced in 2016, the Equinox system is the
nation's first home solar solution in which every major component
has been designed and engineered by one company to work seamlessly
together, delivering unbeatable power, long-term performance and
premium curb appeal. This includes panels with integrated
microinverters and racking, as well as 10-year coverage for
monitoring hardware.
SunPower's Complete Confidence Warranty is effective as
of July 1, 2017 and is available to
all customers for their SunPower E- and X-Series solar panels. For
more on why quality solar products and warranties matter, visit the
SunPower blog post here.
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.
©2017 SunPower Corporation. All Rights Reserved.
SUNPOWER, the SUNPOWER logo and SUNPOWER EQUINOX are trademarks or
registered trademarks of SunPower Corporation in the U.S. and other
countries as well.
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SOURCE SunPower Corp.