The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

KB Home and SunPower Celebrate 1,000th Solar Home and Nearly $1 Million in Estimated Annual Savings for Homeowners

<p> <b>Major milestone commemorated in City of Lancaster</b> </p>

Thursday, February 28, 2013

KB Home and SunPower Celebrate 1,000th Solar Home and Nearly $1 Million in Estimated Annual Savings for Homeowners16:05 EST Thursday, February 28, 2013 LANCASTER, Calif. (Business Wire) -- KB Home (NYSE: KBH) and SunPower Corp. (NASDAQ:SPWR) came together today for a special event in Lancaster, Calif. In a little over a year and a half, KB Home has built more than 1,000 new homes powered by SunPower's high efficiency solar power systems. More than 200 of these homes are in Lancaster, a city focused on advancing the use of solar power. During an event at KB Home's Dorado Skies community, KB Home and SunPower surprised new homeowners Joe and Brittaney Ellison with a free upgrade to their standard-size solar power system. Dorado Skies is one of KB Home's newest communities in Southern California where SunPower solar systems are included as a standard feature of every home built. KB Home estimates that the standard 1.8-kilowatt (kW) system provides up to 40 percent in energy cost savings per year when compared to a typical resale home. The Ellisons' home was built with a 3.2 kW system, which means they could enjoy up to 80 percent in energy cost savings per year, according to the homebuilder. “Completing our 1,000th solar powered home is an important milestone for KB Home. Less than two years ago, we made building solar powered homes a priority because of the value they provide to our homeowners in terms of energy and cost savings,” said Jeffrey Mezger, president and chief executive officer of KB Home. “Now, thanks to our relationship with SunPower and with our commitment to energy efficiency and lowering the total costs of homeownership, at nearly 40 KB Home communities in Southern California we have completed, or are offering, homes with solar power systems included as a standard feature.” KB Home's commitment to solar extends beyond California, with additional communities in Texas and Colorado where SunPower systems are offered as an option. In total, KB homeowners of these 1,000 homes are expected to save nearly $1 million annually on their electricity costs as a result of their solar power systems. According to estimates provided by the U.S. Environmental Protection Agency, the systems installed at KB Home communities offset the production of more than 3,700 tons of carbon dioxide per year, which is equivalent to removing 703 passenger vehicles from the road annually. “SunPower is proud to achieve this significant milestone in partnership with KB Home, allowing 1,000 families in KB Home communities to significantly reduce electricity costs through the use of emission-free solar power,” said Howard Wenger, SunPower president, regions. “The guaranteed performance of high efficiency SunPower technology, which generates more electricity per square meter than any other photovoltaic product on the market, will ensure the systems reliably generate clean power and reduce energy bills over the long term.” KB Home's companywide commitment to sustainability is a natural fit in Lancaster, a northern Los Angeles County suburb, where sun-filled, clear days are the norm and the city has strongly encouraged local businesses to “go green” and to utilize solar power. KB Home has completed four communities with solar-powered homes in the city, and is currently selling solar-powered homes at two other communities in addition to Dorado Skies. “The City of Lancaster is proud to partner with such ‘Green Industry' leaders as KB Home and SunPower, and we look forward to building upon these relationships for many years to come. Private-public partnerships such as these have positioned us well on our way to becoming the Alternative Energy Capital of the World,” said Mayor R. Rex Parris. To learn more about KB Home and its communities across Southern California, as well as nationwide, visit kbhome.com or call 888-KB-HOMES. About KB Home KB Home is one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. KB Home's signature Built to Order™ approach lets each buyer customize their new home from lot location to floor plan and design features. In addition to meeting strict ENERGY STAR® guidelines, all KB homes are highly energy efficient to help lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide® (EPG®). A leader in utilizing state-of-the-art sustainable building practices, KB Home was named the #1 Green Homebuilder in the most recent study by Calvert Investments and the #1 Homebuilder on FORTUNE magazine's 2011 World's Most Admired Companies list. Los Angeles-based KB Home was the first homebuilder listed on the New York Stock Exchange, and trades under the ticker symbol “KBH.” For more information about KB Home's new home communities, call 888-KB-HOMES or visit www.kbhome.com. About SunPower SunPower Corp. (NASDAQ:SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. For more information, visit www.sunpowercorp.com. KB HomeCraig LeMessurier, 925-983-4509clemessurier@kbhome.comorSunPower Corp.Ingrid Ekstrom, 510-260-8368iekstrom@sunpowercorp.com