SunPower Closes Year with Industry's Lowest Solar Panel Degradation Rate, Delivering More Reliable Electricity to Customers Over Time
Company also Cites 10.3 Gigawatts of Solar Installed to Date, Offsetting Carbon Emissions from 30 Million Tons of Coal Burned
As 2018 comes to an end, SunPower (NASDAQ: SPWR) reflects on one of its most notable technology achievements to date: achieving the industry's lowest solar panel degradation rate which means that SunPower solar panels deliver more electricity - and consequently more savings - over time.
In partnership with the National Renewable Energy Laboratory (NREL), the U.S. Department of Energy's primary national laboratory for renewable energy and energy efficiency research and development, SunPower developed a robust method to calculate solar panel degradation which is something all solar panels experience, but at varying rates. When this method was applied to eight years of energy performance data from 264 SunPower solar systems operating at various locations worldwide, it proved that SunPower panels degrade at a median rate of 0.2 percent per year: 70 percent less than the annual degradation rate for Conventional Panels.
"SunPower is a solar industry leader for a reason, creating immense value for residential and commercial customers through high-quality solar solutions that are built to last, through extreme weather, wide ranging temperatures and more," said Tom Werner, SunPower CEO and chairman of the board. "We make good on this promise by offering the industry's best warranty which covers power, product and service for 25 years."
SunPower's interdigitated back contact (IBC) solar panels have long been regarded by customers for their high efficiency and reliability. The company's P-Series solar panels - soon to be manufactured in America - are gaining recognition for reliability as well. As an example, for the second year running, global independent energy expert and certification body DNV GL named SunPower a top performer for its P-Series solar panels.
"Through industry-leading innovations like our proven interdigitated back contact (IBC) and P-Series solar panels, as well as our cutting-edge Next Generation Technology (NGT), SunPower continues to pave the way for global solar growth," Werner continued. "In the new year and beyond, we remain committed to serving our customers with reliable solar energy and storage solutions that reduce electricity costs with minimal environmental impact."
This year marked more than 10.3 gigawatts of the company's high-reliability solar technology installed to date at residential, commercial and utility-scale projects around the world. Collectively, these SunPower® systems are expected to produce approximately 470 billion kilowatt hours of solar electricity over their first 25 years, offsetting carbon emissions from approximately 30 million tons of coal burned, producing enough electricity to drive an electric vehicle about 1.4 trillion miles; or for outer space enthusiasts, to travel 175 round trips to Pluto in an electric vehicle, should future infrastructure ever allow it.
SunPower is currently the No. 1 commercial solar provider in America with the most megawatts installed and the top residential solar manufacturer according to Wood Mackenzie (formerly GTM Research), with a footprint around the world.
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.