SolarCity and Shea Homes® mark one-year anniversary of SheaXero - the “no electric bill” home

Wednesday, Jan 23, 2013

SolarCity (Nasdaq: SCTY), a leading provider of clean energy, and Shea Homes, one of the country’s largest privately-held home builders, today mark the successful one-year anniversary of their partnership that introduced SheaXero, the “no electric bill home.” In its first year debut, 517 SheaXero new homes have been sold to homebuyers in Shea Homes Active Lifestyle® and Trilogy® communities in Arizona, California, Florida, Nevada and Washington. Current SheaXero homeowners will collectively save more than $10,000,000 on their electricity bills over the next 20 years, or about $500,000 per year.

“We broke new ground when we offered SheaXero as a lifestyle to homeowners in different states”

“We broke new ground when we offered SheaXero as a lifestyle to homeowners in different states,” said Rick Andreen, president of Shea Homes Active Lifestyle Communities. “SheaXero homeowners can experience energy savings from the very first day they move into their homes and we look forward to offering SheaXero to more homebuyers.”

SolarCity’s and Shea Homes’ partnership success is pronounced not only by the more than $10 million in savings for the SheaXero homeowners but also by the significant impact the existing number of SheaXero homes are making on greening the environment. SheaXero homes aim to achieve net-zero electric bills by generating as much electricity as they consume through a blend of energy-efficient features and a solar power system that is automatically included in the home’s purchase price. The current number of lived in SheaXero homes represents a yearly reduction of 39.4 million cubic feet of carbon-dioxide (CO2) emissions.

The SolarCity Homebuilder Partner Program was launched two years ago to incorporate solar in new residential construction and dramatically lower a homeowner’s energy costs by allowing them to generate their own clean power. SolarCity’s installations for new homebuilder construction grew by more than 350 percent from year 2011 to 2012.

Source: Business Wire