News | February 6, 2014

Planet Honda Cuts Energy Costs And Pollution With SolarCity

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New Jersey Honda and Acura Owners Can Also Save Money With Solar

Union, N.J (GLOBE NEWSWIRE) - New Jersey's Planet Honda is cutting energy costs and reducing its environmental impact with a solar power system from SolarCity (Nasdaq:SCTY). By using solar electricity, the dealership is expected to save over $70,000 on energy costs over the next 20 years while reducing CO2 emissions by 2.5 million lbs., the equivalent of planting over 28,000 trees.*

The dealership is New Jersey's first Honda Dealer to go solar with SolarCity. American Honda and SolarCity announced a national partnership earlier this year that makes it possible for Honda and Acura customers and dealers in New Jersey and 13 other states to install turnkey solar power with little or no upfront cost and may immediately pay less on their utility bills.

"We're happy to be doing our part to protect the planet, but the bottom line is that we made the move to solar because it is going to save us a lot of money," said Bill Feinstein, Owner of Planet Honda in Union, New Jersey. "With SolarCity, we're reducing our carbon footprint and saving thousands of dollars on energy costs at the same time."

Planet Honda has enrolled in the Honda Environmental Leadership Award Program, which recognizes dealers who significantly reduce their environmental impact by reducing energy and water consumption and participate in recycling programs.

"We've asked our dealers to reduce their environmental impact by participating in our Environmental Leadership Program," said Steve Center, Vice President of the Honda Environmental Business Development Office. "With our SolarCity partnership, we're making it easy and affordable for our dealers to go solar."

SolarCity, which currently employs over 100 New Jerseyans, is the country's number one full-service solar provider. The partnership with Honda also extends to Honda and Acura customers, who can go solar with little or no money down and immediately start paying less on their utility bills.

"SolarCity makes it easy and affordable for New Jersey businesses and homeowners to go solar," said Lee Keshishian, East Coast Regional Vice President for SolarCity. "Our partnership with American Honda makes it even easier."

Honda and Acura customers and dealers in the New Jersey and the entire New York metro area who are interested in a special offer from American Honda and SolarCity can call 855-775-SOLAR (7652) for a free, no-obligation solar consultation or find out more online at http://hondasolarcity.com/.

*Values based on the EPA's Greenhouse Gas Equivalencies Calculator.

About SolarCity

SolarCity® (Nasdaq:SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company offers solar power, energy efficiency and electric vehicle services, and makes clean energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 14 states and signs a new customer every three minutes. Visit the company online at www.solarcity.com and follow the company on Facebook and Twitter.

This release contains forward-looking statements including, but not limited to, statements regarding expected savings, electricity price increases, expected electricity offsets and assumptions relating to the foregoing. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. You should read the section entitled "Risk Factors" in SolarCity's registration statement on Form S-1, which has been filed with the Securities and Exchange Commission and identifies certain of these and additional risks and uncertainties. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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SOURCE: SolarCity Corporation