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SolarCityStatementonCaliforniaNetMeteringDecision
SanMateo,Calif.SolarCityCEOLyndonRivereleasedthefollowingstatementtodayabouttheCalifornia
PublicUtilitiesdecisiononnetmetering:
TodaysdecisionbythePublicUtilitiesCommissionwillempowerCalifornianstocontributetoacleaner,
moreaffordable,moreresilient,andmoredistributedgrid.Itwillgiveusthetimetoprovedistributed
energysfullbenefitstothegridandallratepayers,whilecontinuingtodeploycleanenergyandcreatingjobs
today.
SinceDecemberwehaveseenaparadigmshiftontheworldsapproachtoelectricity,withtheParisclimate
agreement,extensionofthefederalInvestmentTaxCredit,andnowadecisionfromCaliforniathatwill
continuethesuccessfulnetmeteringpolicywhileensuringrooftopsolarusersbegintoprovidevaluable
servicestothegrid.Thisnewparadigmisoneinwhichourmostimportantgoalistodeployrenewable
energyasfastaspossible.SolarCitylooksforwardtoworkingwitheveryonetoexceedtheworlds
expectationsonhowfastwecandoit.
AboutSolarCity
SolarCity(NASDAQ:SCTY)providescleanenergy.Thecompanyhasdisruptedthecenturyoldenergy
industrybyprovidingrenewableelectricitydirectlytohomeowners,businessesandgovernment
organizationsforlessthantheyspendonutilitybills.SolarCitygivescustomerscontroloftheirenergycosts
toprotectthemfromrisingrates.Thecompanymakessolarenergyeasybytakingcareofeverythingfrom
designandpermittingtomonitoringandmaintenance.Visitthecompanyonlineat
www.solarcity.com
and
followthecompanyon
Facebook
&
Twitter
.

SolarCityIntroducesSunRaising,aSolarReferralProgramfor
Nonprofits

SANMATEO,Calif.,January20,2016
SolarCity
(NASDAQ:SCTY)todayannounced
SunRaising
,a
referralprogramthatallowsnonprofitorganizationstoraisefundsbyencouragingmemberstoadoptsolar.
NonprofitscanenrollintheSunRaisingprogramnowbyvisitingthe
registrationwebsite
.Eachtimea
supporterofaspecificSunRaisingpartnerorganizationsignsup,SolarCitywilldonate$200tothat
organization.HomeownerswhogosolarthroughaSunRaisingpartnerwillalsoreceivetheir
systemsfirst
monthofpowerforfree
fromSolarCityasathankyouforhelpingtheirlocalnonprofit.
Morethan100nonprofitorganizationsincludingfoodbanks,hospitals,boosterclubs,communitycenters,
schoolsandrecreationalgroupshavealreadyjoinedandmadereferralsundertheSunRaisingprogram.
Thesereferralshaveledtosolarenergysysteminstallationsprojectedtooffsetapproximately60,000metric
tonsofcarboncomparedtoenergyproducedfromfossilfuels.Inaddition,theprogramhashelpedmore
than400homeownerstakethefirststepstowardsgoingsolarwhilehelpingtoraisethousandsofdollars.
OneofthefirstSunRaisingpartnersisRiverkeeper,anenvironmentalorganizationdedicatedtoprotecting
theintegrityoftheHudsonRiveranditstributaries,aswellasthewatershedsthatprovidedrinkingwaterto
NewYorkCity.
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SolarisbothviableandeconomicalformosthomeandbusinessownersinNewYorkandcanplayalarge
roleinprotectingoneofAmerica'sgreatestrivers,theHudson,saidPaulGallay,PresidentofRiverkeeper.
OneofthegreatestthreatstotheHudsonisanagingnuclearpowerplantso,notonlydoesSolarCitylower
NewYorker'senergybills,butwhenconsumersoptforsolar,itplaysanintegralpartinreplacingthepower
fromthisharmfulplantandotherslikeit."
DesertSandsEducationalFoundation,aSouthernCalifornianonprofitfocusedonstrengtheningpublic
education,alsobecameaSunRaisingpartnerearlierthisyear.
DesertSandsEducationalFoundationisexcitedtobeapartoftheamazingthingsSolarCityisdoingto
improvetheworld,saidJanDiaz,BoardMemberofDesertSandsEducationalFoundation,whichhas
alreadygenerated20referralsthroughwordofmouthandsocialmediapromotions.SunRaisinghasbeena
greatwaytopromotecleanenergyandreceivefundstosupportthestudentsofDesertSandsUnified
SchoolDistrict.
InterestednonprofitorganizationscanregistertobecomeSunRaisingpartnersat
www.solarcity.com/sunraising
.Onceenrolled,eachorganizationwillbeassignedalocalSolarCityenergy
consultanttohelpgetthemstarted.
AboutSolarCity
SolarCity(NASDAQ:SCTY)providescleanenergy.Thecompanyhasdisruptedthecenturyoldenergy
industrybyprovidingrenewableelectricitydirectlytohomeowners,businessesandgovernment
organizationsforlessthantheyspendonutilitybills.SolarCitygivescustomerscontroloftheirenergycosts
toprotectthemfromrisingrates.Thecompanymakessolarenergyeasybytakingcareofeverythingfrom
designandpermittingtomonitoringandmaintenance.Visitthecompanyonlineat
www.solarcity.com
and
followthecompanyonFacebook&Twitter.
Thisreleasecontainsforwardlookingstatementsincluding,butnotlimitedto,statementsaboutsavingsand
fundraisingpotential.Forwardlookingstatementsshouldnotbereadasaguaranteeoffutureperformance
orresults,andwillnotnecessarilybeaccurateindicationsofthetimesat,orby,whichsuchperformanceor
resultswillbeachieved,ifatall.Forwardlookingstatementsaresubjecttorisksanduncertaintiesthatcould
causeactualperformanceorresultstodiffermateriallyfromthoseexpressedinorsuggestedbytheforward
lookingstatements.Youshouldreadthesectionentitled"RiskFactors"inSolarCity'squarterlyreporton
Form10Q,whichhasbeenfiledwiththeSecuritiesandExchangeCommissionandidentifiescertainof
theseandadditionalrisksanduncertainties.Wedonotundertakeanyobligationtopubliclyupdateorrevise
anyforwardlookingstatement,whetherasaresultofnewinformation,futuredevelopmentsorotherwise.

SolarCityandDirectEnergyHelpJohnsHopkinsMedicineGoSolar

BALTIMORE
JohnsHopkins
todayannouncedanewsolarprojectthatwillproduceaffordableandreliable
solarenergytopowertoitsfacilities.Thesolarproject,JohnsHopkinsfirst,islocatedinQueenAnnes
County,Marylandandisexpectedtooffsetabout18percentofthetotalenergyJohnsHopkinsfacilities
utilize.Installedandmaintainedby
SolarCity
withfinancingandmanagementby
DirectEnergyBusiness
,the
solarpowersystemwilldelivertheenergygeneratedtoJohnsHopkinsforlessthantheircurrentelectricity
rate,andprovidealongtermhedgeagainsttherisingcostsofpurchasingpower.
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Duetolackofrooforgroundspaceoncurrentfacilitiesforsuchalargescalesolarproject,JohnsHopkins
chosearemotesolararrangementthatcouldstillprovideitsfacilitieswithaffordablepower.Theremote
solarsystemismadepossiblethroughcooperationofPJMInterconnection,theregionaltransmission
organizationthatcoordinatesthemovementofwholesaleelectricity.DirectEnergyBusinessalreadyworks
directlywithPJMonbehalfofJohnsHopkinstoscheduleandprocurewholesaleenergy,andwillnow
secureanequivalentamountofenergyasisgeneratedbythenewsolarsystematalow,predictablerate.
The13.6megawattsolarinstallationwillfeaturemorethan40,000solarpanelsacrossa97acreplotofland
inWyeMills,partofQueenAnnesCounty,Maryland.
WerehonoredtocontinueourworkwithJohnsHopkinsbyprovidingthefinancingandmanagementfor
thisnewremotesolarsystem,saidJohnSchultz,PresidentofDirectEnergyBusiness.Asatotalenergy
managementserviceprovider,weareabletoofferanenergysolutionthathelpsJohnsHopkinsmeetits
procurementneedswhilealsohedgingagainstfuturerateincreases.
Thesolarsystemisexpectedtoavoidtheemissionof1.4millionmetrictonsofCO2intotheatmosphere
overthenext20years,whichisequivalenttoremovingmorethan313,000carsfromU.S.roadsforone
year.Intwodecades,thesystemwillalsoproducetheenergyequivalenttopoweringmorethan180,000
homesforayear.*
JohnsHopkinssolarprojectisnotonlyahugeendorsementforcleanenergy,butalsoanincredible
businessdecisionthatwillhelpthemsaveonenergycostsforyears,saidJesseJones,SolarCitysvice
presidentofdevelopmentandacquisitions.Solarpowerisoneofthesimplestandmostaffordablesources
ofenergy.Evenifroofspaceislimited,remotesolarsolutionscanhelporganizationslikeJohnsHopkins
experienceallofsolarsbenefits.
OneEnergyRenewables
locatedthesiteandledthepreconstructiondevelopmentwork.
WereproudtohelpaworldclassinstitutionlikeJohnsHopkinsbenefitfromtheenvironmentaland
economicadvantagesassociatedwithanoptimallysitedsolarprojectdevelopedontheEasternShore,said
TravisBryan,COOofOneEnergyRenewablesandaJHUalum(SAIS11)."Consistentwithalongstanding
traditionofinnovation,itsinspiringtoseeJohnsHopkinsblazeatrailforotherinstitutionstofollowin
securinglargescalerenewableenergysolutions.
Theprojectisexpectedtobecompletedandoperationalwithinthefirsthalfof2016andwillservetheJohns
HopkinsEastBaltimoreCampus.
###
*Environmentalcalculationsarebasedon25yearsolarsystemcontractsanddatafromtheUnitedStates
EnvironmentalProtectionAgency
.
Thisreleasecontainsforwardlookingstatementsincluding,butnotlimitedto,statementsregarding
expectedcostsavings,offsetsandsolarsystemcompletiontimelines.Forwardlookingstatementsshould
notbereadasaguaranteeoffutureperformanceorresults,andwillnotnecessarilybeaccurateindications
ofthetimesat,orby,whichsuchperformanceorresultswillbeachieved,ifatall.Forwardlooking
statementsaresubjecttorisksanduncertaintiesthatcouldcauseactualperformanceorresultstodiffer
materiallyfromthoseexpressedinorsuggestedbytheforwardlookingstatements.Youshouldreadthe
sectionentitled"RiskFactors"inSolarCity'squarterlyreportonForm10Q,whichhasbeenfiledwiththe
SecuritiesandExchangeCommissionandidentifiescertainoftheseandadditionalrisksanduncertainties.
Wedonotundertakeanyobligationtopubliclyupdateorreviseanyforwardlookingstatement,whetherasa
resultofnewinformation,futuredevelopmentsorotherwise.
AboutDirectEnergy

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DirectEnergyisaleadingenergyandenergyrelatedservicesproviderwithnearlyfivemillionresidential
andcommercialcustomersinNorthAmerica.DirectEnergyprovidescustomerswithchoiceandsupportin
managingtheirenergycoststhroughaportfolioofinnovativeproductsandservices.AsubsidiaryofCentrica
plc(LSE:CNA),oneoftheworldsleadingintegratedenergycompanies,DirectEnergyoperatesin50U.S.
statesplustheDistrictofColumbiaand10provincesinCanada.TolearnmoreaboutDirectEnergy,please
visit
www.directenergy.com
.
AboutSolarCity
SolarCity(NASDAQ:SCTY)providescleanenergy.Thecompanyhasdisruptedthecenturyoldenergy
industrybyprovidingrenewableelectricitydirectlytohomeowners,businessesandgovernment
organizationsforlessthantheyspendonutilitybills.SolarCitygivescustomerscontroloftheirenergycosts
toprotectthemfromrisingrates.Thecompanymakessolarenergyeasybytakingcareofeverythingfrom
designandpermittingtomonitoringandmaintenance.Visitthecompanyonlineat
www.solarcity.com
and
followthecompanyon
Facebook
&
Twitte
r
.
AboutOneEnergyRenewables
OneEnergyRenewablesdevelopsutilityscalerenewableenergyprojectsacrossNorthAmericaandis
buildingadiverse,distributedsolarprojectportfolioforcommercial,institutional,government,andutility
customers.OneEnergydeliversadvancedenergyprocurementsolutionsandsophisticatedcleanenergy
marketexpertisetohelpitsclientsmeetdemandingfinancialandsustainabilitytargets.Foradditional
information,pleasevisit
OneEnergyRenewables.com
.

SolarCityUrgesSwiftPassageofBipartisanYearEndTaxPackage

WASHINGTONSolarCityurgedCongresstoswiftlypasscomprehensivelegislationthatincludesan
extensionoftheInvestmentTaxCredit(ITC)forsolar.Theprovision,includedinsweepingappropriations
andtaxbillsintroducedbyHouseSpeakerPaulRyantoday,istheresultofweekslongbipartisan
negotiationsbetweenSenateandHouseleaders.
TheproposedlegislationwouldfollowontheheelsofthehistoricglobalclimateagreementinParis,where
195countriescommittedtotackleclimatechangeandgalvanizegreaterinvestmentincleanenergy.
Consistent,longtermpoliciessupportingsolarenergy,alongwithothercleanenergysources,arecriticalto
thegrowthofalowercarboneconomy.Thisweek,analyststoldtheNationalJournalthatliftingthebanon
crudeoilexportswouldhaveanegligibleimpactonU.S.carbonemissions,whilegreatersupportand
certaintyforsolarcouldmorethandoublethenation'stotalinstalledsolarcapacity.
"Onbehalfofover15,000employeeshereintheU.S.andnearly300,000customers,SolarCityapplauds
thebipartisanagreementthatprioritizesthegrowthofsolarintheUnitedStates,"saidSolarCityCEO
LyndonRive."Usingcleanenergyisthemostimportantstepanindividualcantaketoaddressclimate
changeandprotectfuturegenerations.CombinedwiththehistoricParisclimateagreement,longterm
certaintyfortheITCsendsastrongsignaltothemarketplacethatinvestmentincleanenergyistheright
waytodrivecontinuedeconomicgrowthandjobcreation.WeurgeCongresstoactquicklytoenactthe
measure."
BACKGROUND:
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TheITC,whichwassettoexpireattheendof2016,isa30%federaltaxcreditforbusinesses(under
Section48ofthetaxcode)andhomeowners(underSection25D)toincentivizeinstallationofsolarenergy
systems,fuelcells,combinedheatandpowersystems,microturbines,smallwindsystems,andgeothermal
heatpumps.
Sinceitscreationin2006,theITChasdeliveredjobgrowth,costreductions,anddomesticenergy
deploymentacrossthecountry.
SolarCityisanEqualOpportunity/AffirmativeActionemployercommittedtodiversityintheworkplace.All
qualifiedapplicantswillreceiveconsiderationforemploymentwithoutregardtorace,color,religion,sex,
sexualorientation,nationalorigin,disability,protectedveteranstatus,genderidentityoranyotherfactor
protectedbyapplicablefederal,stateorlocallaws.
Thisreleasecontainsforwardlookingstatementsincluding,butnotlimitedto,statementsregarding
projectionsastomanufacturingtimelines,volumeandcosts.Forwardlookingstatementsshouldnotberead
asaguaranteeoffutureperformanceorresults,andwillnotnecessarilybeaccurateindicationsofthetimes
at,orby,whichsuchperformanceorresultswillbeachieved,ifatall.Forwardlookingstatementsare
subjecttorisksanduncertaintiesthatcouldcauseactualperformanceorresultstodiffermateriallyfrom
thoseexpressedinorsuggestedbytheforwardlookingstatements.Youshouldreadthesectionentitled
"RiskFactors"inSolarCity'squarterlyreportonForm10Q,whichhasbeenfiledwiththeSecuritiesand
ExchangeCommissionandidentifiescertainoftheseandadditionalrisksanduncertainties.Wedonot
undertakeanyobligationtopubliclyupdateorreviseanyforwardlookingstatement,whetherasaresultof
newinformation,futuredevelopmentsorotherwise.
AboutSolarCity
SolarCity(NASDAQ:SCTY)providescleanenergy.Thecompanyhasdisruptedthecenturyoldenergy
industrybyprovidingrenewableelectricitydirectlytohomeowners,businessesandgovernment
organizationsforlessthantheyspendonutilitybills.SolarCitygivescustomerscontroloftheirenergycosts
toprotectthemfromrisingrates.Thecompanymakessolarenergyeasybytakingcareofeverythingfrom
designandpermittingtomonitoringandmaintenance.Visitthecompanyonlineat
www.solarcity.com
and
followthecompanyon
Facebook
&
Twitter
.

SolarCityStatementonCaliforniaPublicUtilitiesCommission
ProposedDecisiononSolarNetMetering

SANMATEO,Calif.SolarCityCEOLyndonRivereleasedthefollowingstatementontheProposed
DecisiononsolarnetmeteringpolicyreleasedtodaybytheCaliforniaPublicUtilitiesCommission:
WesupportthePUCsproposeddecisiontocontinuethestatessuccessfulnetmeteringpolicy.Thisis
consistentwithCaliforniaandGovernorBrown'sleadershiponcleanenergyandrecognizestheimportant
roleofrooftopsolarinacceleratingourtransitiontoacleanenergyeconomyandprovidingcustomerchoice.
Theproposaltorequirenewsolarcustomersbeontimeofuseratesisconcerning.Aswesawin2007
whentimeofuserateswerebrieflymandatedforsolarcustomers,theydontworkforeveryonewhowants
togosolar,andwouldreducethemotivationforinstallingsolar.Whiletheseratescansendhelpfulsignals

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aboutwhentouseelectricity,weurgethePUCtocloselyexaminetheimpactsofmandatingtimeofuse
rates.
PartiestotheCPUCsnetmeteringproceedingnowhave20daystogivefeedbackontheproposed
decisiontotheCommission,afterwhichtheCommissionwillvoteonafinaldecision.

SolarCityOpensRegionalWorkforceTrainingCenterinWestLas
Vegas

LASVEGASSolarCity(NASDAQ:SCTY),America's#1solarpowerprovider,isexpandingitsNevada
presencewithanew,13,000squarefootregionaltrainingcenterinWestLasVegas.Thisflagshiptraining
center,SolarCity'sfifthfacilitysinceenteringtheSilverStatein2013,willmakeNevadatheregional
epicenterforSolarCity'sworkforcedevelopment.Thisfacilityisexpectedtotrainasmanyas4,000workers
ayearwiththeskillstheyneedtosucceedintheenergyworkforceofthefuture.
"I'mproudtocelebratetheopeningofSolarCity'snewtrainingcenter,whichwillmakeNevadatheregional
hubfortrainingworkersinthejobsofthe21stcentury,"saidGovernorBrianSandoval."Ourhomegrown
solarindustryhasalreadycreatedover6,000goodNevadajobs,andhastremendouspotentialtocontinue
drivinginnovation,economicdiversification,andopportunityintheSilverState."
SenatorHarryReid,whoseofficepresentedacertificatetocommemoratetheevent,celebratedtheopening
saying,"ThankyouforyourcontributionstothecleanenergyindustryinSouthernNevada."
"Renewable,sustainableenergyisthefutureofSouthernNevada,"saidRepresentativeDinaTitusof
Nevada'sFirstCongressionalDistrict."SolarCity'snewworkforcetrainingcenterwillprovideopportunities
forpeoplefromacrosstheregiontolearnnewskills,contributetooureconomy,andbuildabetter,cleaner
worldforgenerationstocome."
SenatorAaronFord,DemocraticLeaderoftheNevadaSenate,SenatorRubenKihuen,andotherstateand
localofficialsjoinedSolarCityleadershiptocuttheribbonatthenewfacilitytoday.
"TheopeningofSolarCity'sRegionalTrainingCentermeansmoregoodjobsinoneofNevada'smost
importantandforwardthinkingindustries,"saidSenatorAaronFord,DemocraticLeaderoftheNevadaState
Senate."Growingoursolarindustryisnotonlygoodforoureconomy,butitwillhelpourstatecontinueto
movetowardsasustainable,cleanenergyfuture.I'mproudtohelpwelcomethisfacilitytoLasVegasand,
moreparticularly,toSenateDistrict11."
SolarCityalreadyemploysover2,000Nevadans,andNevadaisleadingthenationasthe#1solarjob
creatorinthecountrypercapita.Withthisflagshipfacility,Nevadawillalsobeanationalleaderintraining
thecleanenergyworkforceofthefuture.SolarCity'sregionaltrainingcenterwillbringinnewhiresfrom
aroundtheMountainWesttobetrainedassolarinstallers,electricians,andotherjobsinthegrowingsolar
industry.
Nevadamustmaintainstrongsolarnetmeteringpolicies,sothatemployeestrainedherecanworkhereand
usetheseskillstostrengthenNevada'seconomyratherthanbeingforcedtoworkoutofstate.Withstrong
solarpoliciesinplace,thisregionaltrainingcenterwillcreatemoreopportunitiesforNevada'shomegrown
solarindustrytocontinuetoinnovate,creategoodjobs,andbuildabrighterfutureforNevada.
CandidatesinterestedinemploymentopportunitiesinNevadacanreviewavailablepositionsandcontact
SolarCitydirectlyviaitsonlinejobsformat
www.solarcity.com/jobs
.
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NevadahomeownersinterestedinSolarCity'sservicesmayvisitSolarCityonline
at
http://www.solarcity.com/residential/states/nevadasolar
orcontactthecompanydirectlyat
1888SOLCITY(18887652489FREE)forafree,noobligationsolarconsultation.
SolarCityisanEqualOpportunity/AffirmativeActionemployercommittedtodiversityintheworkplace.All
qualifiedapplicantswillreceiveconsiderationforemploymentwithoutregardtorace,color,religion,sex,
sexualorientation,nationalorigin,disability,protectedveteranstatus,genderidentityoranyotherfactor
protectedbyapplicablefederal,stateorlocallaws.
Thisreleasecontainsforwardlookingstatementsincluding,butnotlimitedto,statementsregardingfuture
hiringandcompanyexpansion,andcustomercostsavings.Forwardlookingstatementsshouldnotberead
asaguaranteeoffutureperformanceorresults,andwillnotnecessarilybeaccurateindicationsofthetimes
at,orby,whichsuchperformanceorresultswillbeachieved,ifatall.Forwardlookingstatementsare
subjecttorisksanduncertaintiesthatcouldcauseactualperformanceorresultstodiffermateriallyfrom
thoseexpressedinorsuggestedbytheforwardlookingstatements.Youshouldreadthesectionentitled
"RiskFactors"inSolarCity'smostrecentquarterlyreportonForm10Q,whichhasbeenfiledwiththe
SecuritiesandExchangeCommissionandidentifiescertainoftheseandadditionalrisksanduncertainties.
Wedonotundertakeanyobligationtopubliclyupdateorreviseanyforwardlookingstatement,whetherasa
resultofnewinformation,futuredevelopmentsorotherwise.
AboutSolarCity
SolarCity(NASDAQ:SCTY)providescleanenergy.Thecompanyhasdisruptedthecenturyoldenergy
industrybyprovidingrenewableelectricitydirectlytohomeowners,businessesandgovernment
organizationsforlessthantheyspendonutilitybills.SolarCitygivescustomerscontroloftheirenergycosts
toprotectthemfromrisingrates.Thecompanymakessolarenergyeasybytakingcareofeverythingfrom
designandpermittingtomonitoringandmaintenance.Visitthecompanyonlineat
www.solarcity.com
and
followthecompanyon
Facebook
&
Twitter
.

SolarCityandSilverLakeKraftwerkAnnounce$100MillionStrategic
Investment

SANMATEO,Calif.SolarCityCorporation(NASDAQ:SCTY)andSilverLakeKraftwerk,SilverLakes
energyandresourceinnovationfund,todayannouncedthattheyhaveagreedtoastrategicinvestmentof
$113millioninaggregateprincipalamountofSolarCitysZeroCouponConvertibleSeniorNotes(the
notes).SilverLakeKraftwerkhasagreedtoinvest$100million,SolarCityChairmanElonMuskwillinvest
$10millionandCEOLyndonRivewillinvest$3million.
SolarCityisthe#1providerofrooftopsolarintheU.S.,andcurrentlyprovidesmorethanoneoutofevery
threenewresidentialsolarelectricitysystems.Thecompanyprovidessolarelectricitydirectlyto
homeowners,businessesandgovernmentorganizationsforlessthantheyspendonutilitybills.SolarCity
installedmoreresidentialsolarthanitsnext36competitorscombinedinQ22015themostrecentdata
availableandalsoinstalledmorecommercialsolarthananyotherproviderinthefirsthalfof2015.

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TheinvestmentbySilverLakeKraftwerkisalmostquadruplethesizeofitsinitialinvestmentinSolarCity
madeinFebruary2012,whichitsubsequentlyexitedinSeptember2013.
WebelievethatSolarCityisahighlyattractivelongterminvestmentopportunity,saidJoshRaffaelli,
ManagingDirectoratSilverLakeKraftwerk.WethinktheCompanysunparalleledaccesstosolarspecific
taxequity,AssetBackedSecurityanddebtclearlydifferentiatesitfromprovidersthatarefundingprojects
constantlyviaequitymarkets.Furthermore,wefirmlybelievethatSolarCitysneartermfocusoncost
reductionandcashflowbreakevenisabsolutelytherightstrategytheCompanyisalreadytheleaderin
bothcommercialandresidentialsolar.Itstechnologyandbrandadvantagecoupledwithitscoststructure
andlowcostofcapitalpositionittocontinuetogrowin2017evenifthefederalinvestmenttaxcreditsteps
down.Distributedsolargenerationisanenormousopportunityandwebelievethereisnoothercompany
betterpositionedtotakeadvantageofit.
SolarovertooknaturalgasandcoalasthelargestsourceofnewenergyintheU.S.inthefirsthalfof2015,
representing40%ofnewcapacity.DemandforSolarCitysserviceshasneverbeengreaterthanitistoday,
andtheglobaladdressablemarketinfrontofusismassive,saidSolarCityCEOLyndonRive.SilverLake
Kraftwerkknowsthecompanyandcategorywellandwereexcitedtoworkwiththemagain.
Thenoteswillbesenior,unsecuredobligationsoftheCompany,willnotbearordinaryinterestandthe
principalamountofthenoteswillnotaccrete.Itisexpectedthatthenoteswillbeconvertibleintosharesof
SolarCityscommonstock(thecommonstock),basedonaninitialconversionrateof30.303sharesof
commonstockper$1,000principalamountofthenotes(whichisequaltoaninitialconversionpriceof
$33.00pershare),subjecttoadjustmentincertaincircumstances.Itisexpectedthatthenoteswillmaturein
December2020,subjecttoearlierconversion,redemptionorrepurchase.
Thisannouncementisneitheranoffertosellnorasolicitationofanoffertobuyanyofthesesecuritiesand
shallnotconstituteanoffer,solicitation,orsaleinanyjurisdictioninwhichsuchoffer,solicitation,orsaleis
unlawful.Thenotesandthesharesofcommonstockissuableuponconversionofthenotes,ifany,willnot
beregisteredundertheSecuritiesActof1933,asamended(theSecuritiesAct),oranystatesecurities
laws,andunlesssoregistered,maynotbeofferedorsoldintheUnitedStatesexceptpursuanttoan
exemptionfromtheregistrationrequirementsoftheSecuritiesActandapplicablestatelaws.
Therearenomaterialcontingenciesrequiredtobesatisfied,andthetransactionsareexpectedtocloseon
oraboutDecember7,2015,subjecttocustomaryclosingconditionsandastandardcapitalcallfromSilver
LakeKraftwerkinvestors.
AboutSolarCity
SolarCity(NASDAQ:SCTY)providescleanenergy.Thecompanyhasdisruptedthecenturyoldenergy
industrybyprovidingrenewableelectricitydirectlytohomeowners,businessesandgovernment
organizationsforlessthantheyspendonutilitybills.SolarCitygivescustomerscontroloftheirenergycosts
toprotectthemfromrisingrates.Thecompanymakessolarenergyeasybytakingcareofeverythingfrom
designandpermittingtomonitoringandmaintenance.Visitthecompanyonlineat
www.solarcity.com
and
followthecompanyon
Facebook
&
Twitter
.
AboutSilverLakeKraftwerk
SilverLakeKraftwerkispartofSilverLake,thegloballeaderintechnologyinvestingwithover$26billionin
combinedassetsundermanagementandcommittedcapitalandateamofapproximately100investment
andvaluecreationprofessionalslocatedaroundtheworld.SilverLakeKraftwerkfocusesonproviding
growthcapitaltotechnologyinnovatorswithestablishedbusinessmodelsintheenergyandresource
sectors.SilverLakeKraftwerktargetscompaniesgloballythatleveragetechnologyandbusinessmodel
innovationtoimproveenergyefficiency,reducewasteandemissions,harnessrenewableenergy,andmore
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efficientlyusenaturalresources,amongotherapplications.FormoreinformationaboutSilverLake
Kraftwerkanditsentireportfolio,pleasevisit
www.silverlake.com
.

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