SPWR News Lennar Homebuilding Introduces Solar Electric Systems in All New Homes in the Bay Area
SAN RAMON, Calif.--(BUSINESS WIRE)--Lennar Homebuilding, one of the largest residential developers in the country, has announced that, beginning immediately, all new communities constructed in the greater San Francisco Bay market will be equipped with a roof integrated solar electric system from PowerLight, a subsidiary of SunPower Corporation (Nasdaq: SPWR), as a standard feature. Lennar Bay Area launched its solar push with the introduction of Milano, a 77 luxury home development in Danville, California. The solar-powered program puts Lennar in the forefront of forward-thinking builders who have their eye on the future and a concern for the environment. These solar-electric equipped homes can help consumers save on their monthly utility bills in addition to providing the buyer with a one-time $2,000 federal tax credit.
“We based our decision on two very important factors,” said Dale Billy, President of Lennar’s Bay Area Homes division. “We listened to extensive consumer research that has been conducted over the last several years and of course, we’re keenly aware of the positive impact this type of program has on the environment. Governor Schwarzenegger has taken great strides to make everyone in the state aware of the need to create sustainable communities and proactively address growing energy conservation concerns. Providing solar power as a standard feature in all of our new homes moving forward is our way of committing ourselves to California’s future.”
“We are very pleased to partner with Lennar for this impressive program,” said Tom Werner, Chief Executive Officer of SunPower. “SunTile is a market-changing solar system because it replaces rooting materials, lowers installation time and improves solar system roof aesthetics. Since SunTile solar power systems are not a standard feature on Lennar’s quality homes in the Bay Area, home owners in these communities will benefit from reduced utility bills and the peace of mind that comes from using clean, renewable energy.”
In 2006, Governor Arnold Schwarzenegger signed legislation (Senate Bill 1) aimed at establishing California as the nation’s leader in solar energy. By 2011, his Million Solar Roofs Plan will provide incentives to builders and homeowners who install solar power in new homes and convert to solar energy in existing homes. The bill, which provides tremendous support to Lennar’s existing solar energy initiatives, is just part of a broader effort to push green energy alternatives throughout the state.
The solar electric system will become part of Lennar’s Everything Included package. Rather than offering costly upgrades, Lennar researches what customers want and value in a new home and includes those items as standard in their homes.
“It’s a matter of economies of scale,” Billy states. “By automatically providing upgraded features in our homes like solar power, granite countertops, high-end appliances and other amenities that other builders charge extra for, we are able to take advantage of volume buying and save substantially on labor costs. In the end, our customers get luxury features and the benefit of these savings. It’s what makes the ‘Everything’s Included’ program such a tremendous value for Lennar homebuyers.”
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes in 20 states across the country. Lennar's Financial Services Division provides primarily mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Additional information about the Company may be obtained at www.lennar.com A tax professional should be consulted regarding any tax-related matters.
