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KB Home And SunPower Celebrate 1,000th Solar Home And Nearly $1 Million In Estimated Annual Savings For Homeowners

Stocks in this article: KBH SPWR

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 1,000 th 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.”

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