SAN JOSE, Calif., Sept. 10, 2012 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR), a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, today announced the launch of the industry's first combined warranty that covers both power and product for 25 years. The company is also shifting to a linear power warranty that offers the lowest power degradation over the life of the system.
SunPower is the only solar company to offer a straightforward 25-year global product warranty, which is 15 to 20 years longer than conventional solar warranties. Integrated into SunPower high-efficiency solar panels are the company's patented Maxeon® all-back contact solar cells which are built on a solid copper foundation, making them extremely resistant to cracking, corrosion and stresses from temperature variation. In the unlikely event a solar panel needs to be repaired or replaced, an identical or functionally equivalent panel will be provided or the cost of the panel will be fully refunded. The associated labor and transportation costs for customers whose solar panels were installed by SunPower or SunPower dealer/partners are covered. The new warranty is also written in plain, simple terms that detail the coverage.
"SunPower's 25-year combined power and product warranty is possible due to our proven, differentiated Maxeon solar cell technology," said Tom Werner, SunPower president and CEO. "These cells make our high-efficiency panels incredibly durable, allowing SunPower to offer our customers this first-of-its-kind warranty increasing performance with more energy delivery. SunPower is standing behind its products with this new easy-to-understand warranty which serves our customers well for any issues that may arise."
SunPower's new warranty now offers the industry's lowest power degradation with more warranted energy. The company guarantees at least 95 percent power for the first five years, followed by a maximum degradation rate of 0.4 percent each year thereafter. This results in an unprecedented 87 percent power level at the end of 25 years, warranting a total of 9.1 percent more energy than the industry standard over the first 25 years of the solar panel life.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV