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SolarCity To Acquire Silevo

SAN MATEO, Calif., June 17, 2014 (GLOBE NEWSWIRE) -- SolarCity Corporation (Nasdaq:SCTY), has signed a definitive agreement to acquire Silevo, a solar technology and manufacturing company whose modules have achieved a unique combination of high energy output and low cost. The transaction was announced, and its significance described in detail, in a post from SolarCity Chairman Elon Musk, Co-founder and Chief Technology Officer Peter Rive and Co-founder and Chief Executive Officer Lyndon Rive on SolarCity's blog, available at: http://blog.solarcity.com/silevo/. Mr. Musk and Messrs. Rive will host a conference call to discuss the proposed acquisition today, Tuesday, June 17, 2014, at 10:00 a.m. Eastern Time. For additional details regarding the proposed acquisition, please review our current report on Form 8-K filed today with the Securities and Exchange Commission.

The conference call can be accessed live over the phone by dialing 1-877-407-0784, or for international callers, 1-201-689-8560. A replay will be available two hours after the call and can be accessed by dialing 1-877-870-5176, or for international callers, 1-858-384-5517. The passcode for the live call and the replay is 13585224. The replay will be available until June 24, 2014.

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging on at the "Events and Presentations" link of the Investor Relations section of the Company's website at http://investors.solarcity.com/events.cfm. The on-line replay will be available for a limited time beginning immediately following the call.

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 makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 15 states and signs a new customer every two minutes. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.

CONTACT: Investor Contact
         Aaron Chew
         650-963-5920
         investors@solarcity.com
         
         Media Contact
         Molly Canales
         650-963-5674
         press@solarcity.com

SolarCity Corporation logo

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