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Press release from Business Wire

Shea Homes® and SolarCity to Celebrate Earth Day with the Sale of 1,000th SheaXero No Electric Bill™ Home

<p class='bwalignc'> <i><b>Environmental Impact of 1,000 SheaXero Homes Over Next 20 Years Equals Planting Enough Trees to Fill New York City's Central Park 60 Times</b></i> </p>

Thursday, April 18, 2013

Shea Homes® and SolarCity to Celebrate Earth Day with the Sale of 1,000th SheaXero No Electric Bill™ Home

22:08 EDT Thursday, April 18, 2013

SAN MATEO, Calif. (Business Wire) -- Trilogy® and Shea Homes Active Lifestyle® Communities, the award-winning builder of resort communities, and SolarCity (Nasdaq: SCTY), a leading provider of clean energy, will celebrate Earth Day this year by honoring the first 1,000 SheaXero homeowners who are living in No Electric Bill Homes powered by clean, renewable solar electricity. Shea estimates that the cumulative environmental impact made by the first 1000 SheaXero homeowners across five states over the next 20 years equates to reducing 1.4 billion cubic feet of carbon dioxide (CO2), the equivalent of enough trees to fill New York City's Central Park 60 times.*

“We couldn't be more proud of the hard work our construction and sales teams have put into the SheaXero program,” said Rick Andreen, president of Shea Homes Active Lifestyle Communities. “Hearing SheaXero owners tell us how excited they are to save a significant amount of money every month has been the most rewarding part of the program for everyone involved. There's certainly a lot to celebrate, and we want to share this monumental milestone with current and future SheaXero homeowners.”

SheaXero is a result of a partnership between SolarCity and Trilogy/Shea Homes; in just over a year, SheaXero has reached 1,000 sales in Trilogy communities in Arizona, California, Florida, Nevada and Washington. SheaXero homes produce as much energy as they use through a custom solar power system and 14 energy-efficient features, based on annual consumption for an average family. SheaXero homes are standard in all Trilogy communities across the nation at no additional charge (in Washington, SheaXero is an available feature). In addition to the environmental impact, Shea estimates that the 1,000 SheaXero homeowners are expected to collectively save more than $18,000,000 on their electricity bills over the next two decades.

“SolarCity's partnership with Shea Homes introduced an innovative new concept in the homebuilding industry with the launch of SheaXero homes. The sale of a 1,000th SheaXero home shows that homeowners like purchasing a new home with a pre-installed solar system that offsets their electricity use on a continual basis,” said Walter Cuculic, national manager of Homebuilder Programs, SolarCity. “Earth Day is a fitting opportunity for us to celebrate the positive environmental effect of the decision made by SheaXero homeowners and encourage others to make the switch to solar.”

Trilogy/Shea Homes and SolarCity are hosting Earth Day events and inviting the public to celebrate these 1,000 SheaXero homeowners with a day of fun and festivities at all locations. All Earth Day events will take place on Saturday, April 20th (see web site for event times by location).

Owners in Shea Active Lifestyle communities in California and Arizona who don't have a SheaXero home can get a solar system this Earth Day and contribute towards a noble cause. SolarCity and Shea/Trilogy are introducing a Retrofit Program to existing homeowners in these states who are interested in making a switch to solar for their homes and saving on their electricity bills. In honor of Earth Day, SolarCity and Shea Homes will donate $400 on behalf of every new Retrofit customer to The Fruit Tree Planting Foundation, an international nonprofit charity that is dedicated to planting fruitful trees to alleviate world hunger and improve the environment. SolarCity will also offer a $250 discount on a new solar system to Retrofit customers.**

For more information about the SheaXero Earth Day Celebration events, click here or call (800) 685-6494.

* Calculations based on data from Go Solar California and Central Park official website.

** Limited time offer, only valid from Earth Day Weekend (4/20/2013) to Labor Day (9/2/2013). A solar power system is customized for your home, so pricing and savings vary based on location, system size, government rebates and local utility rates. Financing terms vary by location and are not available in all areas. $0 due upon contract signing. No security deposit required. A 3 kW system starts at $25-$100 per month with an annual increase of 0-2.9% each year for 20 years, on approved credit. SolarCity will repair or replace broken warranted components. AZ ROC 243771/ROC 245450/ROC277498, CA LIC#888104, WA SOLARC*91901/SOLARC*905P7. Trademarks are property of their respective owners. Retrofit Program does not include the full SheaXero suite of features and does not eliminate electric bills. © 2013 SolarCity. All rights reserved.

About Trilogy and Shea Homes Active Lifestyle Communities™

Trilogy and Shea Active Lifestyle Communities are high-end resort communities offering a new choice in living to those looking for an exciting lifestyle that revolves around wellness, exploration, continued learning and close personal connections. Architecturally superior product design and amenities reflect the changing needs of the baby boom generation, including business services, world-class clubs, state-of-the-art fitness facilities and a diverse range of recreation and education opportunities. Trilogy is committed to addressing boomers' growing concern about the environment and energy usage, and now offers SheaXero No Electric Bill Homes™ across its portfolio, eliminating electric bills and delivering substantial savings to home owners while significantly reducing each home's carbon footprint. SheaXero has resonated strongly with Baby Boomers, selling 1,000 homes nationally since debuting last spring. Trilogy was just named #1 most trusted active adult builder in the Lifestory Research Most Trusted Builders in America Study SM . More information about55+ communities at Trilogy is available by visiting TrilogyLife.com or calling (800) 685-6494.

About Shea Homes

Shea Homes is one of the oldest and largest private homebuilder in the nation. Shea Homes has closed in excess of 86,000 homes. Shea Homes builds homes that deliver quality craftsmanship and design that best fit varied lifestyles and budgets. Over the past several years, Shea Homes has been recognized as a leader in customer satisfaction with a reputation for quality, design and service. For more about SheaXero Homes and Trilogy by Shea Homes communities, visit SheaXero.com and TrilogyLife.com.

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 including, but not limited to, statements regarding expected savings, 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 our annual report on Form 10-K, which has been filed with the Securities and Exchange Commission, which 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.

SolarCity
Khyati Shah, 650-963-5674
press@solarcity.com
or
Zenzi Communications for Shea Homes Active Lifestyle Communities
Julie Lyons, 760-635-9320
Julie@zenzi.com
or
Zenzi Communications for Shea Homes Active Lifestyle Communities
Arianne Schumacher, 760-635-9320
Arianne@zenzi.com

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