SAN MATEO, Calif., June 28, 2016 /PRNewswire/ -- Now approaching its 10-year anniversary, SolarCity Corp. (Nasdaq: SCTY) today released its first Impact Report, a research report that reveals the impact of installing more than 8 million solar panels across America to more than 250,000 customers. The research report also shows evidence of SolarCity's progress in a number of environmental and social categories, such as combating climate change, creating a safe workplace, and improving energy access for off-grid communities. To download the report, visit the SolarCity blog.
Research includes the following highlights:
- SolarCity's carbon footprint continues to be driven by the manufacture of solar panel systems. However, our carbon footprint per installation is decreasing.
- For each ton of carbon emitted in our 2015 carbon footprint, the clean energy systems that we have deployed avoided more than three tons. The solar power systems that we have deployed produce millions of kilowatt-hours of carbon-free electricity every day — an impact that far outstrips our annual carbon footprint.
- Even accounting for the lifecycle carbon footprint of solar technology, the typical SolarCity system starts delivering net carbon reductions in less than one year.
- Our philanthropic foundation, GivePower, has installed off-grid solar systems for more than 1,500 schools in developing countries. We've begun to expand the scope of the program to deliver a range of essential community services to the developing world, including: education, water, health, food, security, economic development, telecommunications and conservation.
SolarCity (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing solar power 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 makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. 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 SolarCity's carbon footprint and carbon offsets and the scope expansion of GivePower. 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 SolarCity's most recent quarterly report on Form 10-Q, which has been filed with the Securities and Exchange Commission and 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.
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