The 1.7-Megawatt Solar Installation is Expected to Reduce Bose's Traditional Grid Electricity Consumption for Next 20 Years
SAN JOSE, Calif., Oct. 11, 2018 /PRNewswire/ -- A 1.7-megawatt solar installation from SunPower (NASDAQ:SPWR) is now fully operational at Bose Corporation's headquarters in Framingham, Mass. SunPower designed, constructed, financed, and will operate and maintain the fixed-tilt, ground-mount system along the southern hillside of what is commonly known as "The Mountain."
Nearly 4,000 high-quality SunPower® solar panels are expected to generate 2.4 million kilowatt hours of energy annually, bringing enough electricity onto the grid to supply a substantial portion of the Bose campus through a 20-year power purchase agreement.
"Corporate renewable energy programs are growing, especially in Massachusetts where Bose is headquartered," said Nam Nguyen, SunPower executive vice president, commercial solar. "We're proud to be working with Bose to further advance solar development in the Commonwealth, and to support the company's commitment to long-term sustainability as a leading global brand."
SunPower, the No. 1 commercial solar provider in America with the most megawatts installed according to Wood Mackenzie (formerly GTM Research), has a footprint across the U.S. including Massachusetts and New England. Learn more here about how SunPower is helping corporate customers in the area drive down electricity costs while generating reliable energy over the long term.
About Bose Corporation
Bose Corporation was founded in 1964 by Dr. Amar G. Bose, then a professor of electrical engineering at the Massachusetts Institute of Technology. Today, the company is driven by its founding principles, investing in long-term research to develop new technologies with real customer benefits. Bose innovations have spanned decades and industries, creating and transforming categories in audio and beyond. Bose products for the home, in the car, on the go and in public spaces have become iconic, changing the way people listen to music.
Bose Corporation is privately held. The company's spirit of invention, passion for excellence, and commitment to extraordinary experiences can be found around the world — everywhere Bose does business.
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.
SunPower's Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding relative generating capacity and projected cost savings. These forward-looking statements are based on our current assumptions, expectations, and beliefs and involve substantial risks and uncertainties that may cause results, performance, or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: regulatory changes and the availability of economic incentives promoting use of solar energy, challenges inherent in constructing and maintaining certain of our large projects, and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.