SAN JOSE, Calif., July 29, 2021 /PRNewswire/ -- SunPower Corp.
(NASDAQ:SPWR), a leading solar technology and energy services
provider, today announced it is teaming up with Wallbox, a leading
provider of electric vehicle (EV) charging solutions, to make the
switch to an electric lifestyle more convenient, affordable, and
sustainable. Through the strategic alliance, new SunPower customers
can opt to install a Wallbox home EV charger at the same time as
their solar and/or storage system installation. SunPower will also
act as a preferred solar and storage provider and EV charger
installation provider for Wallbox customers.
Consumer adoption of EVs and solar energy is growing rapidly.
Deloitte predicts that EV sales are expected to grow from 2.5
million in 2020 to more than 31 million by 2030, accounting for
approximately 32 percent of new car sales. Following record growth
in 2020, Wood Mackenzie predicts residential solar installations
will grow 13 percent in 2021 alone. With strong consumer overlap —
nearly 40 percent of EV drivers also have solar — SunPower and
Wallbox will help meet growing demand for these products by
integrating EV infrastructure into solar equipped homes.
"SunPower is committed to simplifying solar and storage;
extending that to electric vehicle adoption is a natural next
step," said Peter Faricy, SunPower
CEO. "As customer needs continue to evolve and expand, SunPower
will develop and deliver the energy services needed to help meet
them. Through our industry-leading products, best-in-class
partnerships, and dedication to customer service, SunPower is
making it easy and affordable to power our changing world with
renewable energy."
To travel 100 miles, the average EV requires the same amount of
electricity an average American home uses each day to run
appliances, computers, lights, heat and air conditioning, according
to Pew Research. With approximately 80 percent of car charging
happening at home, leveraging solar power to charge an EV — rather
than powering it with energy generated from fossil fuels — is more
environmentally friendly, reduces strain on an already taxed grid,
and can help homeowners reduce electricity costs.
For SunPower customers interested in installing a Wallbox
charger, SunPower will assess the user's home and electrical system
to ensure it is compatible with home EV charging. Wallbox's Pulsar
Plus chargers come with a standard J1772 EV plug, an app allowing
scheduled charging, and power sharing for two or more chargers with
adjustable current output, making them a fit for all EV models.
As a preferred installer for Wallbox, SunPower expects to
provide EV charging station installation services for Wallbox
customers in regions where SunPower has installers and plans to
expand its installation capacity in North
America. EV charging customers without solar will also have
the opportunity to add solar or storage to their homes through
SunPower.
SunPower and Wallbox are currently exploring options for
developing products and experiences to further integrate solar
power with EV. Current discussions include backup power solutions
and incorporating Wallbox's pioneer bi-directional charging
technology into SunPower systems.
"Making charging at-home easier and less expensive has always
been core to Wallbox's vision. Our alliance with SunPower will
further enable us to achieve this goal and support rising EV
adoption," said Enric Asunción, Wallbox CEO and co-founder.
"Combining EV charging with solar power is the natural next
progression for our two industries and will make EV's even more
sustainable, not only benefiting our consumers but the planet."
SunPower plans to begin installing EV chargers for new customers
in Southern California this fall;
the company expects to expand its offering to additional regions
and states throughout 2021. To learn more about adding EV charging
to your solar or installation, visit sunpower.com/wallbox.
About Wallbox
Wallbox is a global company, dedicated
to changing the way the world uses energy in the electric vehicle
industry. Wallbox creates smart charging systems that combine
innovative technology with outstanding design and manage the
communication between vehicle, grid, building and charger. Wallbox
offers a complete portfolio of charging and energy management
solutions for residential, semi-public and public use in more than
60 countries. Founded in 2015, with headquarters in Barcelona, Wallbox's mission is to facilitate
the adoption of electric vehicles today to make more sustainable
use of energy tomorrow. The company employs over 500 people in
Europe, Asia, and the Americas.
For additional information, please visit www.wallbox.com.
About SunPower
Headquartered in California's Silicon Valley, SunPower
(NASDAQ:SPWR) is a leading Distributed Generation 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, businesses, governments, schools and utilities. For
more information,
visit www.sunpower.com.
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 business plans
and timelines 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
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 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.
© 2021 SunPower Corporation. All Rights Reserved. SUNPOWER and
the SUNPOWER logo are registered trademarks of SunPower Corporation
in the U.S.
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SOURCE SunPower Corp.