Homebuilder provides solar power as a standard feature in 10 Southern
LOS ANGELES--(BUSINESS WIRE)--
KB Home (NYSE: KBH), one of America's premier homebuilders, today
announced a new initiative to provide solar power systems for its new
homes as a standard feature in 10 Southern California communities. The
photovoltaic solar systems will help KB homeowners reduce their monthly
energy bills and cost of homeownership for years to come, while also
benefiting the environment.
"KB Home is already a leader in building energy-efficient homes that can
provide homeowners with meaningful savings on their monthly energy
bills," said Jeffrey Mezger, president and chief executive officer of KB
Home. "With this announcement, we are raising the bar even higher and
taking an important step in making our homes even more efficient and
affordable for our homebuyers over the long term, especially when
compared to resale homes."
"If consumers respond as positively as we expect to the tremendous
financial and environmental advantages of these homes in the
marketplace, we plan to expand this industry-leading initiative to our
other markets across the country," continued Mezger.
While KB Home has provided solar power systems as an option for its
homebuyers in select communities in California and Colorado for a number
of years, this is the first time it will build entire communities
featuring solar power systems for every home. SunPower Corp. (Nasdaq:
SPWRA, SPWRB), a leading manufacturer of the highest efficiency, highest
reliability solar panels and systems available today, will provide the
solar technology. When combined with the many additional
energy-conserving features KB Home includes in all of its new homes
across the country, these 10 Southern California communities will offer
some of the most efficient new homes available on the market today at an
affordable price. The solar power systems could also help qualify
homeowners for a federal tax credit.
"By offering solar power systems as a standard feature on their
award-winning homes, KB Home is providing homebuyers a secure, reliable
alternative to electricity sourced from non-renewable fossil fuels,"
said Jim Pape, president of SunPower's residential and commercial
business group. "We are pleased to partner with KB Home as they embark
on this exciting initiative to help their homeowners take control of
their energy usage and reduce their electricity costs."
KB Home has already begun offering the solar power systems at its
Newbury at the Enclave community in Eastvale, Manzanita at Paseo del Sol
community in Temecula and Monterey at Otay Ranch community in Chula
Vista. Five additional Southern California communities featuring solar
power systems for every home will open over the next sixty days, and two
more are expected to open in the fall of 2011.
To better illustrate the advantages of owning a new energy-efficient KB
home, last month the company announced it is now including the KB Home
Energy Performance Guide™ (EPG) in all of its new homes. Similar to an
MPG sticker on cars, the KB Home EPG provides KB homebuyers with
estimated monthly electric and gas costs for their new KB home as
designed, as well as valuable information on the home's relative energy
efficiency when compared to a typical new home or resale home. The KB
Home EPGs for the homes located in these 10 Southern California
communities will reflect the additional energy efficiency provided by
the solar power systems.
About KB Home
KB Home (NYSE: KBH), one of the nation's premier homebuilders, has
delivered over half a million quality homes for families since its
founding in 1957. The Los Angeles-based company is distinguished by its
Built to Order™ homebuilding approach that puts a custom home experience
within reach of its customers at an affordable price. KB Home has been
named the #1 Green Homebuilder in a study by Calvert Investments and the
#1 Homebuilder on FORTUNE magazine's 2011 World's Most Admired Companies
list. The Company trades under the ticker symbol "KBH" and was the first
homebuilder listed on the New York Stock Exchange. For more information
about any of KB Home's new home communities, call 888-KB-HOMES or visit www.kbhome.com.
Craig LeMessurier, 925-750-6237
Source: KB Home
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