Dive Summary:
- The solar-panel-maker SunPower announced on Monday that it would begin offering a 25-year warranty on its units and guarantee energy generation at various levels over the courses of their lifecycles.
- Products will now be guaranteed to produce 95% of their peak power output for five years, with an 87% guarantee still applying for the next 20 years.
- "As the solar industry matures, we'll be focusing less on the cost of panels and more on durability and the reliability of the technology," SunPower CEO Tom Werner said, according to a story posted by Bloomberg.
From the article:
"... San Jose-based SunPower (SPWRA), which makes its own solar panels, has also gotten into the leasing game. On Monday, SunPower announced a new 25-year warranty on its solar panels that guarantees the amount of energy they will produce.
Solar panels slowly degrade over time. SunPower guarantees its products will produce at least 95 percent power for the first five years, followed by a maximum degradation rate of 0.4 percent a year each year thereafter. SunPower's warranty guarantees that its panels will still produce at least 87 percent power at the end of 25 years. ..."
