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Press release from Business Wire

SolarCity Appoints Jimmy Chuang as Vice President of Structured Finance and Aaron Chew as Vice President of Investor Relations

<p class='bwalignc'> <i>Two new executives collectively bring a dozen years of experience in the renewable energy industry to clean energy leader</i> </p>

Wednesday, April 17, 2013

SolarCity Appoints Jimmy Chuang as Vice President of Structured Finance and Aaron Chew as Vice President of Investor Relations

09:00 EDT Wednesday, April 17, 2013

SAN MATEO, Calif. (Business Wire) -- SolarCity® (Nasdaq: SCTY), a leading provider of clean energy, today announced the appointment of Jimmy Chuang as vice president of structured finance and Aaron Chew as vice president of investor relations. Both new executives will report to Chief Financial Officer Bob Kelly.

Chuang joins SolarCity from GCL Solar Energy Inc., one of the world's largest solar developers, where he was chief structured finance officer. He will manage the structured finance group, and help identify and build relationships with tax equity and debt investors to enhance the ways in which SolarCity helps consumers, businesses and government organizations switch to cleaner energy at a lower cost.

In only three years, Chuang helped build GCL Solar Energy Inc.'s U.S. business from ground zero into one of the nation's largest. He has financed more than $2 billion, and more than 400 megawatts, of U.S. solar projects in his career. He previously held senior structured finance roles at Fotowatio Renewable Ventures and MMA Renewable Ventures, where he was responsible for acquiring, developing and investing in various renewable energy projects and leading tax-advantaged equity capital, construction financing, and permanent debt-raising efforts.

"SolarCity is the innovator in the U.S. solar industry—the company's track record speaks for itself,” said Chuang. “I look forward to continuing to expand the company's investment fund activity to further drive down the cost of providing cleaner, more affordable power to our customers."

Chew will be responsible for communicating SolarCity's financial performance, strategy and growth prospects to analysts and investors.

“SolarCity has cracked the code to scaling distributed energy generation,” Chew said. “I look forward to helping communicate SolarCity's remarkable story to a broader investment audience.”

Chew has served as Vice President and Senior Vice President of equity research and senior alternative energy/solar analyst at the Maxim Group. Prior to that, he served as a senior solar analyst at Hapoalim Securities.

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 and follow the company on Facebook & Twitter.

Jonathan Bass, 650-963-5156

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