LONG BEACH, Calif., March 11, 2015 (GLOBE NEWSWIRE) -- SolarCity® (NASDAQ: SCTY) and DIRECTV (NASDAQ: DTV) are teaming up to make affordable solar power even more accessible for homeowners in major cities across the country. The two companies announced the first-of-its-kind program at DIRECTV's California Broadcast Center facility today in Long Beach where SolarCity recently installed a one-megawatt solar system.
Under the new service relationship, DIRECTV technicians visiting customers' homes will be able to offer those homeowners the opportunity to use solar electricity from SolarCity, making it possible for them to pay less than their current utility rates. With SolarCity, these customers can take advantage of clean power for no upfront cost and secure predictable monthly costs for years into the future. The opportunity will be offered to DIRECTV customers in every major market where SolarCity currently operates. The companies plan to offer this opportunity to even more customers as SolarCity continues to expand its operations into new markets. To celebrate the new relationship, qualified SolarCity customers who sign up to go solar between March 11 and March 18 are eligible for a special $400 rebate to be paid upon installation.
DIRECTV, with more than 20 million US customers, has long been at the leading edge of environmental sustainability in its industry. Its ambitious corporate sustainability goals include reducing the company's carbon emissions by 40 percent and reducing its customers' carbon emissions by 1 million metric tons per year by 2020. The new relationship with SolarCity is unique to the industry and allows DIRECTV customers to live more sustainably while saving money through the use of clean, renewable solar power.
DIRECTV's new one-megawatt solar array in Long Beach provides power to the California Broadcast Center, one of its largest energy consuming facilities, which supports DIRECTV's service in Latin America. The ground-mounted solar system is expected to generate enough renewable solar electricity over its lifetime to power the equivalent of over 1,400 typical homes for a year and deliver important environmental benefits to the Long Beach region and residents of Los Angeles County. It is expected to prevent more than 15.7 million pounds of carbon dioxide from entering the atmosphere over its lifetime, which is equivalent to taking over 1,350 cars off the road or planting more than 678,000 trees. It is also expected to save nearly 73 million gallons of water that would otherwise be consumed in the production of electricity from fossil fuel or nuclear sources.*
Like the benefits its customers can now capture, DIRECTV's solar installation will allow them to pay for the clean energy the system generates at a discount to utility power and enjoy low, predictable solar energy rates for the lifetime of the system.
To learn more about SolarCity and DIRECTV's customer program, and to gather details on the offer including terms and conditions, visit www.solarcity.com/DIRECTV. To learn more about DIRECTV's sustainability efforts, visit www.directv.com/sustainability.
DIRECTV (NASDAQ: DTV) is one of the world's leading providers of digital television entertainment services delivering a premium video experience through state-of-the-art technology, unmatched programming and industry leading customer service to more than 39 million customers in the U.S. and Latin America. In the U.S., DIRECTV offers its over 20 million customers access to more than 195 HD channels and Dolby-Digital® 5.1 theater-quality sound, access to exclusive sports programming such as NFL SUNDAY TICKET™, Emmy-award winning technology and higher customer satisfaction than the leading cable companies for 14 years running. DIRECTV Latin America, through its subsidiaries and affiliated companies in Brazil, Mexico, Argentina, Venezuela, Colombia, and other Latin American countries, leads the pay TV category in technology, programming and service, delivering an unrivaled digital television experience to more than 19 million customers. DIRECTV sports and entertainment properties include ownership interests and management of four Regional Sports Networks: ROOT SPORTS Rocky Mountain, Pittsburgh, Southwest and Northwest; and has minority ownership interests in Game Show Network. For the most up-to-date information on DIRECTV, please visit www.directv.com.
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 makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 16 states. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.
*Environmental calculations are based on data from the United States Environmental Protection Agency and the National Renewable Energy Laboratory, with a system lifetime estimate of 10 years.
This release contains forward-looking statements including, but not limited to, statements regarding future projects, partners and cost savings. 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 annual report on Form 10-K, 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.