SunPower Offers Energy Independence with Equinox® Storage
Leading Solar Technology Paired with Powerful Battery, Proprietary Software and New Mobile App Give Homeowners Control of Their Energy
SAN JOSE, Calif., Sept. 18, 2019 – SunPower (NASDAQ:SPWR) today introduced Equinox Storage, the next major advancement in the company’s Equinox energy platform, giving homeowners more freedom from utility outages, grid uncertainty, and peak energy rates. Homeowners with Equinox Storage can choose to store energy for full- or partial-home backup during blackouts, reduce daily peak electricity consumption, or any combination that best fits their needs.
“We’re entering a new solar decade as storage adoption increases with the advancement of battery technologies, and with accompanying services becoming standard,” said Norm Taffe, SunPower executive vice president, residential solar. “For homeowners, Equinox Storage provides energy certainty and the power to make electricity allocation decisions, easing concerns with scheduled power outages, prolonged wildfire seasons, and unpredictable energy rates that are becoming more common.”
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High-Efficiency Solar, Now Featuring High-Impact Storage
Equinox Storage is made specifically for the company’s Equinox Solar solution, the only fully-integrated residential solar system designed, engineered, and warranted by one company.
“With up to 12 kilowatt hours of storage capacity, Equinox Storage gives homeowners the ability to keep lights on, essential appliances operating, internet connected, and more, which can be critical during an outage,” Taffe continued. “Equinox Storage also automatically manages energy supply based on solar production, home electricity consumption, and utility rates to make the most efficient use of stored power every day.”
With a low-profile design, Equinox Storage occupies less space than competing solutions, while leaving room for future storage capacity expansion. SunPower has matched hardware aesthetics with next-generation software capabilities to give homeowners direct control of how and when they use stored solar energy.
And as always, SunPower offers a single point of contact with the company’s industry-leading Complete Confidence Warranty for both solar and storage customers.
Industrial-Strength Storage Experience
Equinox Storage builds on SunPower’s experience helping commercial customers like Whole Foods and Cabot Corporation lower peak energy demand from the grid with Helix™ Storage. The company has more than 15 megawatts of Helix Storage operating or under contract, and a pipeline of 136 megawatts.
“Helix Storage has helped our commercial customers reduce demand charges and save on electricity costs, while supporting the grid by reducing strain on distribution and transmission networks for operational efficiencies,” said Taffe. “We’ve used the same industrial-strength software and data platform to create our residential storage solution for homeowners.”
Eligible SunPower® Equinox Solar customers in California can pre-order Equinox Storage beginning in November with installation expected in the first half of next year. In addition to purchasing with cash, qualified customers will be able to finance Equinox Storage with a loan from one of SunPower’s lending partners. SunPower expects to expand availability nationwide throughout 2020.
SunPower at Solar Power International (SPI)
SunPower will showcase Equinox Storage at next week’s SPI, part of North America Smart Energy Week in Salt Lake City, Utah. Attendees can visit booth 4329 to see Equinox Storage and the new SunPower Design Studio application, as well as speak with an energy expert. Interested homeowners can also visit www.sunpower.com/equinoxstorage to learn more, or check out the Design Studio web application to explore custom solar and storage solutions for their own homes.
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 product performance, project 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, 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 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.” 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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