SAN JOSE, Calif., Sept. 30, 2021 /PRNewswire/ -- Today
SunPower Corp. (NASDAQ: SPWR), a leading solar technology and
energy services provider, launched SunPower 25X25, its new justice,
diversity, equity and inclusion (JDE&I) commitments designed to
ensure the resiliency and economic benefits of distributed solar
and battery storage serve American families, job-seekers and
businesses that have been historically marginalized. The
commitments include ambitious targets with initiatives to achieve
them by 2025 – spanning workforce diversity, solar access expansion
and dealer diversity programs.
"Distributed solar and battery storage offer tremendous benefit
to our environment, are vital in building a resilient energy
infrastructure, can provide lower-cost electricity, and create
good, well-paying jobs," said Peter
Faricy, CEO of SunPower. "We must use this moment-in-time to
ensure the rapid deployment of this critical technology benefits
all Americans."
SunPower's new commitments align with justice, diversity, equity
and inclusion commitments made by the Biden administration, as well
as the historic Justice40 Initiative, which commits 40 percent of
the benefits of federal climate and clean energy investments to
disadvantaged communities.
SunPower is committed to achieving the following targets by
2025:
- Increasing workforce diversity: 40% of its workforce
represented by women; 25% of its workforce represented by Black and
Hispanic/Latinx people
-
- Emphasis will be placed on workforce development programs for
the company's growing residential installation teams across the
country
- Expanding access for customers: 25% of its U.S.
residential customers made up by people who live in historically
marginalized communities
-
- Includes the development of a new program to provide low-income
customers with no interest loans
- Ensuring industry equity: 25% of the dealers and
subcontractors it works with will be owned by women and people of
color
-
- Includes establishment of a new dealer diversity program and
creation of new partnerships with minority-owned business
organizations
These efforts build upon SunPower's diversity pledge and the
company will report progress annually in its Environmental, Social
and Governance report.
"Black professionals working in solar services have roots,
relationships and experience in all communities, particularly those
disproportionately impacted by climate change. If the solar
industry is going to provide renewable energy access and equitable
job opportunities, actively engaging black owned businesses is
vital," said Walter McLeod, founding
board member of Black Owners of Solar Services. "We commend
SunPower for committing to creating an intentionally diverse dealer
and subcontractor network and raising the bar for others in the
industry to do the same."
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.
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SOURCE SunPower Corp.