SolarCity and Oakwood Homes Offer Solar Systems on New Homes in Denver

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Homebuyers Can Go Solar With No Addition to Purchase Price, Take Advantage of Savings from Day One

Oakwood Homes, Colorado’s largest private homebuilder and community developer, is offering a solar power option on new homes in its Carriage House and upcoming Tollgate communities through a partnership with SolarCity (Nasdaq: SCTY). The arrangement between SolarCity, America’s No. 1 full-service solar power provider, and Oakwood Homes makes it possible for many homebuyers to install solar panels for free—with zero additional cost to the purchase price of the home—and pay less for solar electricity than they pay for utility bills.

The program has already proved popular: Since opening for sale in 2013, 80 percent of homebuyers who have purchased a home in the Carriage House community have opted to have a solar system installed from SolarCity. The solar power can allow homebuyers to save thousands of dollars on their electricity bills over the next two decades.

“With the option for new homebuyers to have solar power without adding a dime to the price of the home, it’s easier than ever for buyers to say yes to green, clean energy,” said Dwayne Montoya, Oakwood Homes Regional Sales Manager. “We’re happy to provide a sustainable solar option with SolarCity that is not only good for the environment, but a sound financial decision for our homebuyers.”

Oakwood Homes takes pride in building homes with a purposeful, efficient design as part of their EnergySmart program, which aims to reduce energy costs for homeowners by utilizing a range of energy-efficient features, including ENERGY STAR rated appliances, high efficiency water fixtures and extensive insulation with 100-percent recycled materials. The Carriage House community features 110 homes built to EnergySmart standards. Solar power can enable homeowners to reduce their utility bills by hundreds of dollars each year on top of the savings they realize from being more energy efficient. The Carriage House community is located in Green Valley Ranch, one of Denver’s fastest growing master-planned communities, with homes for sale from the high $100s to the $300s.

“With energy from SolarCity, Oakwood Homes buyers can benefit from solar power and the associated savings immediately,” said Walter Cuculic, SolarCity’s national manager of Builder Programs. “By eliminating upfront costs, we’ve made it easier for homebuilders to offer solar benefits to their customers, and homebuyers to take advantage of cleaner, more affordable energy.”

Solar options at the Carriage House community range from 2.5 to 5 kilowatt systems and are custom designed by SolarCity to maximize savings and efficiency. SolarCity provides homebuilders across the country with a range of solar services that include customer assistance, monitoring, insurance and repairs for homebuyers. SolarCity currently works with more than 100 builders in nine states across the U.S.

For additional details, please visit the Carriage House community at 4792 Ceylon St. in Denver, Colo.

About Oakwood Homes

Oakwood Homes is Colorado’s largest privately held hometown builder and is dedicated to providing the best new-home value in the marketplace. The company has been serving Colorado communities for over 20 years, surpassing 10,000 satisfied households to date, and recently expanded into Omaha, Nebraska with plans for further expansion. Oakwood Homes has been recognized for its quality work and was named Top Company 2013 by Colorado Biz Magazine.

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 of the workday. Visit the company online at and follow the company on Facebook & Twitter.

This release contains forward-looking statements including, but not limited to, statements regarding expected savings and adoption rates, 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 registration statement on Form S-1 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.

For Oakwood Homes
Megan Dubray, Aiello Public Relations & Marketing
(405) 596-8261
Megan (at) AielloPR (dot) com

For SolarCity
Molly Canales
(650) 963-5674
Press (at) SolarCity (dot) com

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