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Builders Make SunPower Solar a Standard Feature for New Homes

BZH, MTH, TOL | October 31, 2023

SunPower grows New Homes footprint in eight states including expanded agreements with Meritage Homes and Toll Brothers

Builders respond to rising energy bills and power outages with renewable energy

RICHMOND, Calif., Oct. 31, 2023 /PRNewswire/ -- SunPower (NASDAQ:SPWR), a leading residential solar technology and energy services provider, today announced it signed deals with four new home builders for solar standard communities across the country, signaling a rising prioritization of more sustainable, reliable, and affordable energy in new home building. Now Beazer Homes, CC Homes, Meritage Homes and Toll Brothers are pre-installing SunPower Equinox® solar systems in select communities, making it easier than ever for homeowners to adopt clean energy. These four deals represent nearly 1,000 solar homes across eight states.

"Builders are trying to appeal to today's energy-conscious homebuyer who is concerned about the high cost of powering their home," said Matt Brost, vice president of New Homes sales for SunPower. "Forward-thinking builders who incorporate a renewable infrastructure from day one can reduce the cost of homeownership, provide a shield against rising energy bills and positively address climate change. That's exactly what Beazer Homes, CC Homes, Meritage Homes and Toll Brothers are doing."

SunPower continues to play a major part in Meritage's solar offerings across the U.S.

Meritage Homes Corporation (NYSE: MTH), the fifth-largest public homebuilder in the U.S., has expanded its solar collaboration with SunPower beyond California to certain residential communities in Colorado. The builder will soon begin including solar as a standard feature on single-family homes and townhomes across the greater Denver area.

"To build on our green mission of delivering energy-efficient homes, we have been partnering with SunPower to install solar panels in Meritage communities for many years and are excited to bring this solution to additional Colorado communities," said Clint Szubinski, chief operating officer of Meritage Homes.

Toll Brothers expands solar offerings to include all new home communities in California, Nevada, New York and Massachusetts

Toll Brothers, Inc. (NYSE: TOL), the nation's leading builder of luxury homes, has expanded its national agreement with SunPower to include solar on Toll Brothers' homes and communities in four markets across the nation. In addition to powering all its homes built in California with SunPower, Toll Brothers will now offer the technology as an option to its home buyers in Nevada in the West, and New York and Massachusetts in the East.

"We are excited to expand our partnership with SunPower to provide solar technology solutions to our home buyers in Toll Brothers communities spanning four major markets across the U.S.," said Seth Ring, Executive Vice President of Toll Brothers. "Home buyers in all Toll Brothers communities in California, Nevada, New York and Massachusetts will now have the opportunity to enjoy the benefits of leading solar technology for renewable and reliable power built into their new luxury homes."

Beazer Homes boosts residential solar adoption across the Mid-Atlantic

Beazer Homes (NYSE: BZH) plans to add SunPower solar to 125 homes across Maryland and Delaware including the Chase Oaks development in Lewes, DE and all future homes built at Holly Farms in Parkville, MD. All homes in these communities will be certified by the U.S. Department of Energy (DOE) as a DOE Zero Energy Ready HomeTM.

"Our collaboration with SunPower Solar will provide additional energy cost savings and bring Beazer homeowners one step closer to realizing net zero energy usage," says Chance Hall, division president for Beazer Homes in Maryland.

Beazer Homes is the first national homebuilder to publicly commit to ensuring that by the end of 2025 every home they build will meet the requirements of the DOE Zero Energy Ready Home program.

CC Homes helps alleviate energy burden in the Sunshine State with solar

CC Homes, one of the largest private builders in South Florida, is now offering SunPower's solar systems to all homeowners in their communities who are interested in electrifying their home and making it more energy efficient. The collaboration is expected to retrofit hundreds of households within CC Homes' communities with SunPower's solar panels, with plans to add solar into future builds from the onset.

"Adding home solar technology in our communities has been a goal for some time and SunPower made this advancement an easy decision. We build a variety of home styles and our clients have various needs. SunPower's experience working with other homebuilders made them an excellent fit for our business," said Andres Miyares, President of CC Homes.

SunPower's New Homes business saw record sales in the second quarter with $108 million in bookings, 11% growth year-over-year, as more builders turn to solar to offset the significant home electricity demand. SunPower Equinox panels are backed by an industry-leading 25-year warranty covering parts, labor and power production, named "the most reliable panels of 2023" by Good Housekeeping.

To learn more about how SunPower is changing the way our world is powered, visit www.sunpower.com.

About SunPower

SunPower (NASDAQ:SPWR) is a leading residential solar, storage and energy services provider in North America. SunPower offers solar + storage solutions designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners. For more information, visit www.sunpower.com.

About Beazer Homes

Headquartered in Atlanta, Beazer Homes (NYSE: BZH) is one of the country's largest homebuilders. Every Beazer home is designed and built to provide Surprising Performance, giving you more quality and more comfort from the moment you move in – saving you money every month. With Beazer's Choice Plans®, you can personalize your primary living areas – giving you a choice of how you want to live in the home, at no additional cost. And unlike most national homebuilders, we empower our customers to shop and compare loan options. Our Mortgage Choice program gives you the resources to easily compare multiple loan offers and choose the best lender and loan offer for you, saving you thousands over the life of your loan.

We build our homes in Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada, North Carolina, South Carolina, Tennessee, Texas, and Virginia. For more information, visit beazer.com, or check out Beazer on Facebook, Instagram, and Twitter.

About CC Homes:

Led by veteran developers Armando Codina and Jim Carr, CC Homes – a Codina-Carr Company – was founded on the principle of providing families with high-quality new homes in desirable locations. With more than 75 years of combined experience in South Florida real estate, Codina and Carr are responsible for the development of more than 5,000 single-family homes, over 100 home communities, and nearly 300 real estate developments. With projects located throughout the state, CC Homes is one of the largest builder-developers in Florida and is ranked among the Top 50 Luxury Single-Family Home Builders in the U.S.A. by Builder Magazine.

About Meritage Homes Corporation:

Meritage Homes is the fifth-largest public homebuilder in the United States, based on homes closed in 2022. The Company offers energy-efficient and affordable entry-level and first move-up homes. Operations span across Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee. Meritage Homes has delivered over 165,000 homes in its 37-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is an industry leader in energy-efficient homebuilding, a ten-time recipient of the U.S. Environmental Protection Agency's ("EPA") ENERGY STAR® Partner of the Year for Sustained Excellence Award since 2013 for innovation and industry leadership in energy efficient homebuilding, and the recipient of the EPA's 2022 Market Leader Award for Certified Homes as well as the EPA's 2022 Indoor airPLUS Leader Award. For more information, visit www.meritagehomes.com.

About Toll Brothers

Toll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 56 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol "TOL." The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.

Toll Brothers was named the #1 Home Builder in Fortune magazine's 2023 survey of the World's Most Admired Companies®, the eighth year it has been so honored. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.

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 expected demand, business plans, product performance, and 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 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 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.

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