Visit the Solar Institute for details of the 2011 Solar Symposium: solar.gwu.edu/Symposium.html

1. Changing the Way the World Is Powered
GWU Solar Institute
Jim Torpey
April 26, 2011

2. Safe Harbor Statement
This presentation 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. SunPower uses words and phrases such as
"expects," “believes,” “plans,” “anticipates,” "continue," "growing," "will," to identify forward-looking
statements in this presentation, including forward-looking statements regarding: (a) plans and expectations
regarding the company’s cost reduction roadmap, (b) cell manufacturing ramp plan, (c) financial forecasts,
(d) future government award funding, (e) future solar and traditional electricity rates, and (f) trends and
growth in the solar industry. 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;
(ii) general business and economic conditions, including seasonality of the industry; (iii) growth trends in
the solar power industry; (iv) the continuation of governmental and related economic incentives promoting
the use of solar power; (v) the improved availability of third-party financing arrangements for the
company's customers; (vi) construction difficulties or potential delays, including permitting and
transmission access and upgrades; (vii) the company's ability to ramp new production lines and realize
expected manufacturing efficiencies; (viii) manufacturing difficulties that could arise; (ix) the success of the
company's ongoing research and development efforts to compete with other companies and competing
technologies; and (x) other risks described in the company's Annual Report on Form 10-K for the year
ended January 3, 2010, 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.
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3. SunPower
>1 GW solar PV deployed 2010 revenue of $2.2 billion
>1000 dealers and growing rapidly 550 MW 2010 production
Diversified portfolio: roofs to power plants 5,000+ Employees; 100% solar
4+ GW power plant pipeline Publicly listed NASDAQ: SPWRA, SPWRB
Residential Commercial Power Plants
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4. Superior Performance, Superior Quality
World’s Most Efficient Solar Cell
Residential Rooftop Commercial Rooftop Ground Systems
SunPower SunTile® SunPower ® T10 Roof Tile SunPower ® T20 Tracker
Class A Fire Rated Up to 10% More Power Up to 30% More Power
© 2010 SunPower Corp.
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5. Over 250 MW of power plants installed in Europe
Serpa, Portugal Isla Mayor, Spain Olivenza, Spain Jumilla, Spain Montalto, Italy Muehlhausen,
11 MW 8 MW 18 MW 23 MW
5 24 MW ©Germany, 6 MW Corp.
2010 SunPower

6. SunPower Corporation
4
2
3
1 25 2
2 10 8
8 2 3
2 3 22
1 2
1
183 1
4 10 1
2
3 1 3 1 5 1
2 12 1
5 1
2 3 1 22 91
17 5 1 3
14 2 4 1 3
5 9 2 1 1
1
4
6
341 2 7
9 4 2
1 1 1
2 3
31 1
2
10 1
2
1
1 4
8
29
11
Major SunPower Office/ SunPower Supplier # of SunPower Large- SunPower Dealer Partners
Facility Scale Installed Systems

7. SunPower’s US Jobs Growth
 2004 US: 40
 2009 US: 650
 2010 US: 850
 2010 Dealers: >400
 2011 CVSR: 100s
2011 Manufacturing
Plant Milpitas CA:
100 jobs
© 2010 SunPower Corp.
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8. Solar PV History
Annual Global PV Additions (MW)
~15,000
15,000
12,000
9,000 ~8,000
6,000 >5,000
>3,000
3,000
>1,000
>1 >10 >100 >250
0
1978 1983 1997 2000 2004 2007 2008 2009 2010F
5 yrs 14 yrs 3 yrs 4 yrs 3 yrs
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9. Crystalline Silicon PV Returns to Learning Curve
Panel Average Sales Price (ASP) 2008$
100
1979
$33/W
81% Progress
Ratio
Module ASP (2008$)
10
2008
$3.17/W
Silicon
Shortage 2012
$1.40/W
1
1 10 100 1000 10000 100000
Cumulative Production (MW) Last 4 data points: the Prometheus Institute
- Thinner wafers 300  145 microns
- Efficiency 16%  22+%
- Factories 100MW  1,000MW © 2010 SunPower Corp.
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10. Solar PV Power Plants Are Cost Competitive
LCOE by Resource $/MWh: 2010 - 2013
Renewables
Solar PV $86 - 192
Solar Thermal $119 - 194
Wind $65 - 110
Conventional
$231- 254
Gas Peaking
Gas CC $67-96
Nuclear $77-114
Coal $69-152
0 50 75 100 150 200 250 300 350 400
Prices include federal incentives Levelized Cost ($/MWh)
Source: Lazard Capital Markets 6/2010
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11. 4.2 GW PV in 2009…10+ GW in 2010
European 2009 New Installed and Retired Capacity (MW)
Source: EWEA, February 2010
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12. Lower PV Costs  Customer Driven Adoption
Source: NREL, Break-Even Cost for Residential Photovoltaics in the United States:
Key Drivers and Sensitivities (2009)
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13. 2010-2015: PV = #1 or #2 New Power Resource
Global Global US Annual US
Annual MW Cumulative MW Cumulative
MW MW
2009 8000 20,000 441 1,600
2010 15,000 35,000 1,000 2,600
2015 25-35 GW >100 GW 10 GW 20 GW
 Slow growth in new capacity creates opportunity for PV to gain share
 By 2015, PV in range of global wind additions in 2009
 2015+ coal retirements = 50 GW of incremental opportunity in U.S.
 PV must prove it can be a major power resource (demand & supply)
 Supply will be there: will demand disruption undercut industry health?
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