Solar panel producer, SunPower Corporation (NASDAQ:SPWR) has teamed up with homeconstructor, KB Home (NYSE:KBH) for its new project, which will allow homeowners to save and store solar energy that can be used anytime and could be a big energy cost saver. SunPower Corporation (NASDAQ:SPWR) plans to attach battery-storage technology to its solar panel systems, which will let the KB Home (NYSE:KBH) developed homes to harness solar energy during the day which could be used during the night. The company’s Chairman, President and CEO, Tom Werner discussed during a CNBC interview about how they plan to execute their solar energy storage solutions with KB Home.
The company predicts that they will install close to 10 systems this year and would become standard within five years. Talking about the sourcing of the batteries and the cost associated.
“We are sourcing Lithium-Ion batteries and the real magic here is on the integration software, until you take solar with the battery, which is a standard technology, and you combine those two. And you can then use the energy when you want and that allows to do some really great things,” Werner said.
Werner added that the technology will shift great energy control in the hands of the homeowners, who at present are passive and just end up paying energy bills.
Further, when asked about the company’s plans to take a stake in potential battery companies, Werner said that with the new partnership extended with KB Home (NYSE:KBH), SunPower Corporation (NASDAQ:SPWR) has moved on from being a solar energy provider to energy solutions provider. He explained that now they will have to work around solar, battery and energy management. Therefore, if they would look to invest in some company then they will need to look at the integration of all the three elements. Though Werner did not specify details about the company’s plans to buy a battery company, but he did say that SunPower Corporation (NASDAQ:SPWR) is looking forward to partner with a battery supplier and said that their focus for the association will be on the integration and customer interface.