EnerNOC and SunPower Enhance Energy Intelligence of Commercial and Industrial Customers
BOSTON and SAN JOSE, Calif., Mar. 25, 2015 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), and SunPower Corp. (Nasdaq:SPWR), a leading global provider of solar solutions, today announced a strategic agreement that will enable SunPower's customers to verify the impact of their solar energy investments and drive optimum energy savings with EnerNOC's world-class energy intelligence platform. Under the three-year agreement, EnerNOC will exclusively offer SunPower solar solutions to its enterprise customer base, and SunPower will exclusively offer EnerNOC's energy intelligence software to its commercial and industrial solar customers in the U.S. and Canada. As part of the agreement, SunPower will start deploying EnerNOC's SaaS (software as a service) solution bundled with solar to its existing enterprise and institutional customers.
"SunPower is focused on offering Smart Energy solar solutions to allow our customers to intelligently manage energy supply and demand, and achieve their energy goals," said Tom Werner, SunPower president and CEO. "With EnerNOC's energy intelligence software, our customers will get energy and demand management analytics integrated with real-time SunPower solar production and performance. This will allow them to better budget and manage their energy bills, including shifting usage to mitigate demand charges, which may comprise 30 percent or more of a monthly energy bill. Our two companies will work together to continuously evolve these services and offer customers best-in-class solar technology coupled with industry- leading energy intelligence and management."
"More and more enterprises want to take control of their energy costs and, as a result, the demand for solar has dramatically increased. The declining price of commercial solar - a 45% drop since 2012 - has made it even more attractive, as evidenced by the more than doubling of installations by leading Fortune 100 companies in the past three years," said Tim Healy, chairman and CEO of EnerNOC. "Solar solutions require robust analytics and verification capabilities to maximize their value, which is why we're excited to partner with SunPower in North America to offer an integrated solution to enterprise customers."
The agreement announced today is the latest in SunPower's strategy to invest in integrated technology solutions to help customers manage their cost of energy, reinforcing the company's evolution to offering Smart Energy solutions for its residential, commercial and utility customers. The agreement also advances EnerNOC's strategy to offer a broad and integrated software platform to support the energy management needs of its commercial and industrial customers.
EnerNOC is a leading provider of cloud-based energy intelligence software (EIS) and services to thousands of enterprise customers and utilities globally. EnerNOC's EIS solutions for enterprise customers improve energy productivity by optimizing how they buy, how much they use, and when they use energy. EIS for enterprise includes budgeting and procurement, utility bill management, facility optimization, visibility and reporting, project tracking, demand management, and demand response. EnerNOC's EIS solutions for utilities help maximize customer engagement and the value of demand-side resources, including demand response and energy efficiency. EnerNOC supports customer success with its world-class professional services team and a Network Operations Center (NOC) staffed 24x7x365. For more information, visit www.enernoc.com.
SunPower Corporation (Nasdaq:SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North and South America, Europe, Australia, Africa and Asia. For more information, visit www.sunpower.com.
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Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, statements relating to the future growth and success of the Company's energy intelligence software, and the benefits that customers may derive from technology updates or enhancements to that software, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to under the section "Risk Factors" in EnerNOC's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as well as other documents that may be filed by EnerNOC from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. EnerNOC is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.