Benzinga | Sep 16, 2021 10:46AM EDT

Toll Brothers And SunPower Announce Exclusive Agreement To Provide Solar And Storage To Toll Brothers Homes In California

Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, and SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, today announced a multi-year exclusive agreement in which SunPower will be the only provider of solar technology to Toll Brothers homes and communities across California. This exclusive agreement combines SunPower(r) solar, storage and additional services, and is the first of its kind for both companies. The agreement contains preferred terms for solar and storage offerings in California and nationally.

With this new strategic affiliation, nearly every home Toll Brothers builds in California will include a SunPower Equinox(r) home solar system, which generates more power in less space with fewer visible parts than traditional solar electric systems. In addition to providing the most efficient solar power available to home buyers, the agreement will allow Toll Brothers to expand availability of solar storage offerings with SunPower's innovative SunVault? storage system. This will provide home buyers with more reliable power, reduce peak-time electricity charges, and serve as a back-up home power source in case of a utility outage.

The exclusive agreement also provides a framework for expansion of the terms to additional states in which Toll Brothers and SunPower operate.

"We are excited to partner with SunPower to provide leading solar technology solutions to our home buyers in Toll Brothers communities across California," said Seth Ring, Executive Vice President of Toll Brothers. "This partnership underscores Toll Brothers' commitment to a cleaner environment, while providing our home buyers with additional options for renewable and reliable power, including backup home energy storage."

"Toll Brothers is known for quality craftsmanship and high standards, so joining together to provide their customers with the best quality and aesthetics available in solar and storage is a natural fit," said Matt Brost, Senior Director of New Homes Sales at SunPower. "Together we can offer new home buyers the ability to generate electricity sustainably and peace of mind that they'll be able to keep the lights on."

In April 2021, Toll Brothers released its inaugural Environmental, Social and Governance (ESG) Report. For more information, visit www.TollBrothers.com/ESG.