Swanson is one of the world's most recognized leaders in the advancement of photovoltaics (PV) and a pioneer in commercializing cost-effective PV power systems. In 2006, he was honored with the prestigious Becquerel Prize for Outstanding Merits in Photovoltaics, and in 2002 he was presented with the William R. Cherry Award by the IEEE for outstanding contributions to the PV field.

"When SunPower was founded almost a quarter century ago, solar was little more than a concept," said Richard Swanson, president and CTO of SunPower Corporation. "Today, it is within reach of becoming main stream throughout much of the world, and it is highly gratifying to be a part of this energy revolution. SunPower has contributed to the phenomenal growth of solar, and I have been fortunate to work with extraordinary engineers to deliver, what is today, the planet's most powerful solar technology. It is my extreme privilege to be recognized by The Economist and this innovation award."

Solar power has grown an average of 40 percent per year since the beginning of the decade, with global solar installations expanding from more than 600 megawatts in 2003 to nearly 6,000 megawatts in 2008, and Swanson has been instrumental in its development. Since he founded SunPower in 1985, the company has successfully researched methods of increasing the efficiency of solar cells and, as a result, the company last week announced a world-record, full-sized solar panel with a 20.4 percent total area efficiency.

Swanson graduated from Ohio State University in 1969, with his bachelors and masters degrees in electrical engineering. He then earned his Ph.D. at Stanford University, where he received a post-doctoral fellowship to study techniques for solar-electric power generation. Swanson joined the faculty at Stanford as an assistant professor of electrical engineering where he obtained funding from the U.S. government's Electric Power Research Institute to investigate thermophotovoltaic energy conversion for solar applications.

In 1991, Swanson resigned from his faculty position to focus his attention to SunPower Corporation, a company he founded in 1985 to develop and commercialize cost-effective, high-efficiency photovoltaic power systems. SunPower's all-back contact solar cells powered Honda to victory in the 1993 World Solar Challenge, and were also used to power Helios, NASA's high-altitude solar powered airplane to a world-record altitude of 96,500 feet. Swanson received the IR100 Award in 1995 for providing Honda and NASA with these record-setting solar cells.

Following tonight's ceremony, Swanson will join all of the award recipients on a "Winners Panel," at The Economist's Innovation Summit on October 30 at The Dorchester on Park Lane in London. The one hour discussion will begin at 9:35 a.m.

The Economist has been honoring individuals with its innovation awards program for eight years. Past winners in this category include Arthur Rosenfeld, commissioner, California Energy Commission; Stanford Ovshinsky, president and chief scientist and technologist, Energy Conversion Devices; and George Craford, chief technology officer at Philips Lumileds.

About SunPower

Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.

SunPower is a registered trademark of SunPower Corporation. All other trademarks are the property of their respective owners.

Helen Kendrick of SunPower Corp., +1-408-240-5585, hkendrick@sunpowercorp.com

"When SunPower was founded almost a quarter century ago, solar was little more than a concept," said Richard Swanson, president and CTO of SunPower Corporation. "Today, it is within reach of becoming main stream throughout much of the world, and it is highly gratifying to be a part of this energy revolution. SunPower has contributed to the phenomenal growth of solar, and I have been fortunate to work with extraordinary engineers to deliver, what is today, the planet's most powerful solar technology. It is my extreme privilege to be recognized by The Economist and this innovation award."

Solar power has grown an average of 40 percent per year since the beginning of the decade, with global solar installations expanding from more than 600 megawatts in 2003 to nearly 6,000 megawatts in 2008, and Swanson has been instrumental in its development. Since he founded SunPower in 1985, the company has successfully researched methods of increasing the efficiency of solar cells and, as a result, the company last week announced a world-record, full-sized solar panel with a 20.4 percent total area efficiency.

Swanson graduated from Ohio State University in 1969, with his bachelors and masters degrees in electrical engineering. He then earned his Ph.D. at Stanford University, where he received a post-doctoral fellowship to study techniques for solar-electric power generation. Swanson joined the faculty at Stanford as an assistant professor of electrical engineering where he obtained funding from the U.S. government's Electric Power Research Institute to investigate thermophotovoltaic energy conversion for solar applications.

In 1991, Swanson resigned from his faculty position to focus his attention to SunPower Corporation, a company he founded in 1985 to develop and commercialize cost-effective, high-efficiency photovoltaic power systems. SunPower's all-back contact solar cells powered Honda to victory in the 1993 World Solar Challenge, and were also used to power Helios, NASA's high-altitude solar powered airplane to a world-record altitude of 96,500 feet. Swanson received the IR100 Award in 1995 for providing Honda and NASA with these record-setting solar cells.

Following tonight's ceremony, Swanson will join all of the award recipients on a "Winners Panel," at The Economist's Innovation Summit on October 30 at The Dorchester on Park Lane in London. The one hour discussion will begin at 9:35 a.m.

The Economist has been honoring individuals with its innovation awards program for eight years. Past winners in this category include Arthur Rosenfeld, commissioner, California Energy Commission; Stanford Ovshinsky, president and chief scientist and technologist, Energy Conversion Devices; and George Craford, chief technology officer at Philips Lumileds.

About SunPower

Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.

SunPower is a registered trademark of SunPower Corporation. All other trademarks are the property of their respective owners.

SOURCE SunPower Corp.

http://www.sunpowercorp.com

SunPower Announces the Most Powerful Solar Tracker for Power Plant Applications

ANAHEIM, Calif., Oct. 27 -- At the Solar Power International 2009 conference today, SunPower Corporation (Nasdaq: SPWRA, SPWRB), a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, launched the next generation of its SunPower T20 Tracker (T20 Tracker). It is the most powerful solar tracker on the market today, incorporating SunPower's high-efficiency 128-cell, 400-watt solar panels for maximum energy output.

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"SunPower has the engineering expertise and proven technology to accomplish this remarkable milestone in such a short period of time," said Larry Kazmerski, executive director, science and technology partnerships, located at NREL. "My colleagues at the DOE and NREL had cautioned me that reaching a 20 percent solar panel was a stretch, but this did not dampen my optimism that it would happen. I congratulate SunPower and its team of talented engineers on realizing this accomplishment."

SunPower expects to make the 20.4 percent efficiency solar panel commercially available within the next 24 months. The company plans to begin operating a U.S. panel manufacturing facility in 2010 using automated equipment designed and commercialized with SAI funding. SunPower recently announced the availability of the SunPower T5 Solar Roof Tile (T5), the first photovoltaic roof product to combine solar panel, frame and mounting system into a single pre-engineered unit. The T5 was also developed using research and development funds from the SAI.

"We are excited with the rapid pace in which we've been able to develop these advanced technologies," said Bill Mulligan, SunPower's vice president of technology and development. "Without the funding from the SAI, it would have taken us much longer to deliver both the world-record 96-cell solar panel and the innovative T5 Solar Roof Tile. We appreciate the DOE's continued support of the solar energy industry."

The Solar America Initiative is focused on accelerating widespread commercialization of clean solar energy technologies by 2015 and to provide the U.S. additional electricity supply options while reducing dependence on fossil fuels and improving the environment. It aims to achieve market competitiveness for solar electric power through government partnerships with industry, universities, national laboratories, states, and other public entities by funding new research and development activities.

About SunPower

Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The company uses words and phrases such as "expects" and "plans" to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) commercial availability of the 20.4 percent efficiency solar panel; and (b) operating a U.S. panel manufacturing facility in 2010. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) the company's ability to obtain and maintain an adequate supply of raw materials and components, as well as the price it pays for such items; (ii) the continuation of governmental and related economic incentives promoting the use of solar power; (iii) construction difficulties or potential delays; (iv) the company's ability to ramp new production lines; (v) manufacturing difficulties that could arise; (vi) the success of the company's ongoing research and development efforts; and (vii) other risks described in the company's Annual Report on Form 10-K for the year ended December 28, 2008, its Quarterly Report on Form 10-Q for the quarter ended June 28, 2009, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

SunPower is a registered trademark of SunPower Corporation. All other trademarks are the property of their respective owners.

SOURCE SunPower Corp.

http://www.sunpowercorp.com