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SAN JOSE, Calif., Nov. 21 /PRNewswire-FirstCall/ -- SunPower Corporation
(Nasdaq: SPWRA, SPWRB), a San Jose-based manufacturer of high-efficiency solar
cells, solar panels and solar systems, Helio Micro Utility and the San Jose
Tech Museum of Innovation (The Tech), today joined with San Jose Mayor Chuck
Reed and other local officials to dedicate a 185-kilowatt solar-electric
system that will be showcased at The Tech. This is the first commercial solar
system on a downtown San Jose building.
"Solar power is integral to San Jose's Green Vision," said Reed. "The
partnership between The Tech, SunPower and Helio Micro Utility demonstrates
the type of efforts we'd like to see throughout the city as San Jose
implements its clean tech strategy with a goal of becoming a world leader in
solar technology. I am pleased to dedicate this system and encourage other
companies and organizations to consider moving to clean, renewable energy."
As an alternative to an outright purchase of the commercial system itself,
The Tech will buy electricity for the facility from Helio Micro Utility's
Green Energy Community Investment Fund, a fund jointly owned with Citi
Community Capital. The Fund will also own the associated renewable energy
credits and other environmental attributes, which it may retire or sell. The
electricity will be competitively priced against retail rates, providing The
Tech with a long-term hedge against rising peak power prices.
"Solar technology is no longer just blue-sky research. It's real, it has
taken hold, and The Tech is yet again leading the way in demonstrating its
very tangible benefits," said Peter Friess, president of The Tech. "We are
proud to partner with SunPower to be the first downtown City owned building to
host this significant solar array."
Designed and installed by SunPower, the system features SunPower(R) T10
Solar Roof Tiles, equipped with SunPower solar panels, the most efficient on
the market today. T10 Solar Roof Tiles are non-roof penetrating and tilt at a
10-degree angle to increase energy capture. The system, which is located atop
the roof of Parkside Hall, a facility adjacent to The Tech's main structure,
will generate enough electricity to match approximately 10 percent of The
Tech's electricity use.
"We are pleased to partner with The Tech to bring affordable, clean,
reliable solar power to a key destination point in downtown San Jose," said
Tom Werner, CEO of SunPower Corp. "The high-efficiency SunPower solar system
that The Tech is hosting on its roof will maximize the amount of energy
produced within the limited roof space, enhancing both the environmental and
financial benefits."
About SunPower Corporation
SunPower Corporation (Nasdaq: SPWRA, SPWRB) designs, manufactures and
delivers high-performance solar electric systems worldwide for residential,
commercial and utility-scale power plant customers. SunPower high-efficiency
solar cells and solar panels generate up to 50 percent more power than
conventional solar technologies and have a uniquely attractive, all-black
appearance. With headquarters in San Jose, Calif., SunPower has offices in
North America, Europe, Australia, and Asia. For more information, visit
http://www.sunpowercorp.com.
About Helio Micro Utility
Helio Micro Utility (HmU) is the green power pioneer seeking to create the
world's largest clean energy utility, distributed across millions of roofs.
HmU contracts with solar installers to build and maintain solar power systems
for commercial, residential, and community energy users. HmU customers Buy
Power not Panels(TM), with HmU buying the panels instead and owning the
complete solar installation. This simplifies the process for energy users to
switch from "brown" energy to "green." Helio Micro Utility is headquartered
in Berkeley, CA. For more information please visit http://www.heliomu.com.
About The Tech Museum of Innovation
The Tech Museum of Innovation is a hands-on technology and science museum
for people of all ages and backgrounds. The Tech -- located in the Capital of
Silicon Valley -- is a non-profit educational resource established to engage
people in exploring and experiencing technologies affecting their lives.
Through educational programs, the annual Tech Challenge team competition for
youth, and the internationally recognized Tech Awards, presented by Applied
Materials, Inc., The Tech Museum of Innovation celebrates the present and
encourages the development of innovative ideas for a more promising future.
For more information about The Tech Museum of Innovation, visit
http://www.thetech.org.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements are statements that do not represent historical
facts. The companies use words and phrases such as "will," "may," and similar
expressions to identify forward-looking statements. Forward-looking statements
in this press release include, but are not limited to, the companies' plans
and expectations regarding: (a) The Tech buying electricity from Helio Micro
Utility's Green Energy Community Investment Fund; (b) the Fund owning the
associated renewable energy credits and other environmental attributes, which
it may retire or sell; and (c) the electricity being competitively priced
against retail rates, providing The Tech with a long-term hedge against rising
peak power prices. These forward-looking statements are based on information
available to the companies as of the date of this release and management's
current expectations, forecasts and assumptions, and involve a number of risks
and uncertainties that could cause actual results to differ materially from
those anticipated by these forward-looking statements. Such risks and
uncertainties include a variety of factors, some of which are beyond the
companies' control. In particular, risks and uncertainties that could cause
actual results to differ include: (i) actual electricity generation; (ii) the
actual energy consumption rate; (iii) unexpected changes in utility service
rates; (iv) regulatory changes; and (v) other risks described in SunPower's
Quarterly Report on Form 10-Q for the quarter ended September 28, 2008, and
other filings with the Securities and Exchange Commission. These
forward-looking statements should not be relied upon as representing the
companies' views as of any subsequent date, and the companies are under no
obligation to, and expressly disclaim any responsibility to, update or alter
their forward-looking statements, whether as a result of new information,
future events or otherwise.
SunPower is a registered trademark of SunPower Corp. All other trademarks
are the property of their respective owners.
SOURCE SunPower Corporation
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