Taylor Morrison to offer solar power option on every new home in its Phoenix-area communities through partnership with California-based clean power company SolarCity; 5.5-kW solar array comes with 20-year contract, does not raise purchase price of homes
January 30, 2014
– Taylor Morrison Homebuyers Can Reduce Their Electric Bills for Little to No Upfront Cost
Taylor Morrison, one of the nation's leading homebuilders, today announced that it will offer a solar power option on every new home in its Phoenix-area communities through a partnership with SolarCity. Taylor Morrison and SolarCity (Nasdaq:SCTY), America's No. 1 full-service solar power provider, will deliver the benefits of solar power to homebuyers for little to no upfront cost. The partnership will make it possible for home buyers to save up to thousands on their utility bills, and will also enable them to lock in their solar electricity costs for decades into the future. Taylor Morison is the first national homebuilder in Arizona to offer SolarCity's solar systems to homebuyers without increasing the purchase price of their homes.
"Providing solar to our homebuyers in the Phoenix area is just another way to offer the best possible experience to our customers," said Bob Thompson, vice president of sales and marketing for Taylor Morrison's Phoenix division. "With a Taylor Morrison home, homebuyers are able to enjoy a beautiful home that also boasts the benefits of utilizing energy that's good for the planet and wallet."
With 26 existing communities in the greater Phoenix area and seven additional communities opening in the first quarter of 2014, Taylor Morrison will now offer solar options from SolarCity to each homebuyer. Homebuyers can equip their new homes with a 5.5 kilowatt solar array for which SolarCity will provide solar installation, insurance, monitoring service and repairs for the duration of the 20 year contract.
"SolarCity is excited to provide solar power options to Taylor Morrison homeowners that don't add a dime to their sale price, but allow them to save thousands on energy costs," said Walter Cuculic, SolarCity's national manager of Builder Programs. "We make it remarkably easy to go solar and start saving money immediately."
Taylor Morrison's homes are already equipped with environmentally-friendly features such as ENERGY STAR appliances, programmable thermostats, vinyl-framed, dual pane Low-E windows, radiant barrier roof sheathing and more. Taylor Morrison is also a partner for the U.S. Environmental Protection Agency's WaterSense Program, an initiative to save water and protect the environment. Utilizing the nationally-recognized Home Energy Rating System (HERS) as a benchmark, new Taylor Morrison homes are typically 30 to 40 percent more efficient than standard new homes.*
New homebuyers interested in solar can see a model home with a SolarCity solar system in Taylor Morrison's Bridges at Gilbert Landmark Collection Community at 5249 S. Tatum Ln. in Gilbert, Arizona. Model homes with solar will also be open for viewing by March 2014 in the following communities:
For additional details, please contact Taylor Morrison by calling 480-346-1738 or emailing PhoenixOnline@TaylorMorrison.com.
SolarCity makes it possible for builders to install solar on new homes without increasing construction costs or raising the purchase price for homebuyers. SolarCity currently works with more than 100 builders in nine states. To learn more, please visit www.solarcity.com/homebuilder.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison Home Corporation operates in the U.S. under the Taylor Morrison and Darling Homes brands and in Canada under the Monarch brand. Taylor Morrison is a builder and developer of single-family detached and attached homes serving a wide array of customers including first-time, move-up, luxury and active adult customers. Taylor Morrison divisions operate in Arizona, California, Colorado, Florida and Texas. Darling Homes serves move-up and luxury homebuyers in Texas. Monarch, Canada's oldest homebuilder builds homes for first-time and move-up buyers in Toronto and Ottawa as well as high rise condominiums in Toronto. For more information about Taylor Morrison, Darling Homes or Monarch, please visit www.taylormorrison.com, www.darlinghomes.com and www.monarchgroup.net.
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, expected electricity offsets, expected emissions reductions 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.
* Average homes receive a score of 100 based upon the California Energy Commission's Home Energy Rating System (HERS) while Taylor Morrison homes typically receive scores of 60 to 70.