Responding to President Obama’s call today for greater energy efficiency to combat climate change, SolarCity® (NASDAQ: SCTY) has unveiled Energy Explorer™, a new software service that provides homeowners a self-guided tour of their energy use. In a speech on climate change at Georgetown University, where SolarCity has completed six solar projects on student housing, President Obama called on the nation to waste less energy in addition to increasing use of clean energy. Powered by the company’s proprietary algorithms, Energy Explorer performs more than 100 million calculations per household to pinpoint the source of inefficiencies and rank possible improvements by cost and savings. Beginning tomorrow, new SolarCity residential solar customers will have free access to the software, and will receive complimentary efficiency evaluations with their solar site assessments. “Traditional efficiency audits generalize energy expenses, fail to pinpoint the source of problems and leave consumers guessing about possible solutions. It’s like providing a symptom without a diagnosis,” said Peter Rive, SolarCity’s co-founder and chief technology officer. “Energy Explorer isolates the sources of energy expenses and analyzes the specific impact of solutions. With Energy Explorer, SolarCity has changed a process that used to require 4 hours and cost hundreds of dollars into a free service that takes a few minutes and the single click of a mouse.” Here’s how it works: 1. After a homeowner signs up for solar, a SolarCity expert evaluates the customer’s home for solar. The expert also records information related to energy use. This includes details about the heating and cooling equipment, water heater, insulation levels and window types. 2. Energy Explorer combines data from the evaluation with local weather information, a three-dimensional model of the building and a Department of Energy database of equipment efficiencies to run a simulation of energy use in the home. The result is a breakdown of energy costs and potential efficiency improvements, including estimated savings and project costs.
3. Following the evaluation, the customer can access a personalized website for a self-guided tour of evaluation results. The customer can select from a list of improvements and choose to be contacted by a certified contractor to perform upgrades.SolarCity has performed more than 16,000 energy efficiency evaluations since it launched its efficiency services in 2010, with our average customer saving more than $1,000 annually following energy efficiency upgrades. The company analyzed the data from past evaluations to determine the largest energy expenditures by region and inform targeted data collection that led to a simplified audit. The company’s experience as an energy efficiency contractor allows it to provide accurate cost data for specific upgrades and connect the customer with the ideal contractor. To learn more please visit our Energy Explorer page or call SolarCity to speak with an energy efficiency consultant at 888-765-2489. 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 five minutes. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter. This release contains forward-looking statements. 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 on June 18, 2013 and identifies certain of these and additional risks and uncertainties. SolarCity does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.