Sungevity® Inc. and Nickel Energy Partner to Launch Sungevity® Australia

OAKLAND, Calif. and SYDNEY, April 19, 2012 /PRNewswire/ -- Oakland, California-based Sungevity^® Inc. and Australian solar company, Nickel Energy, today announced a joint venture partnership called Sungevity Australia that will provide Australian homeowners with the first ever pay-as-you-go solar option and introduce Sungevity's innovative brand of online sunshine to the "land down under." The new pay-as-you-go service, dubbed "RoofJuice," broadens options for the burgeoning Australian solar market that until now, has been limited to an upfront, cash purchase model. The average cost of a five-kilowatt system (the average system size in Australia) is 12,000 Australian dollars ($12,400). Now, with the introduction of Sungevity Australia's "RoofJuice" option, homeowners can purchase solar-generated electricity with no upfront cost, giving them instant savings on their utility bills. Sungevity Australia's "RoofJuice" option will be available at www.sungevity.com.au starting in late May 2012 and will incorporate the company's brand assets and proprietary software tools, including the company's remote solar design services.

Sungevity's expansion to Australia marks the second global move by the company in less than six months, following an expansion to Europe in November 2011 through a partnership with Dutch Solar firm, Zonline. The company's highly scalable model, rooted in the use of satellite and Internet technology to design rooftop solar arrays remotely, also enabled the company to simultaneously launch in five Northeast states in July 2011. Sungevity now has a presence in eight U.S. states – Arizona, California, Colorado, Delaware, Maryland, Massachusetts, New Jersey and New York – as well as the Netherlands and Australia internationally.

"We share a common vision with Nick Lake and his team, and we are excited to partner with them to introduce easy and affordable solar power to Australian homeowners," said Andrew Birch, Chief Executive Officer, Sungevity, Inc. "Our move in to the Australian market is further proof that our business model is exceptionally scalable and that customers all over the globe are demonstrating the desire to get easy access to clean energy."

"Sungevity's innovative iQuote technology, coupled with a ground-breaking and disruptive pay-as-you-go model, will enable a new class of Australian customer to go solar," said Nick Lake, Managing Director, Nickel Energy. "The introduction of Sungevity 'RoofJuice' will undoubtedly transform the Australian solar market, and we are excited about leading the way."

ABOUT SUNGEVITY

Sungevity's online iQuote process and solar lease program make it easy and affordable for homeowners to benefit from solar power. Leveraging web-based solar analytics and satellite imagery, Sungevity can deliver a firm quote within 24 hours without a home visit and provide homeowners with immediate savings on their electricity bills. This affordability and ease of use, combined with Sungevity's solar social network strategy, is all part of Sungevity's mission to accelerate solar into the mainstream. Aligned with Sungevity' mission and values, the company is recognized as a B Corp, a new type of corporation that harnesses the power of private enterprise to create public benefit for all stakeholders, not just shareholders. Sungevity was recognized by B Corp as one of the "Best for the World" companies for using the power of business to solve social and environmental problems. For more information, visit www.sungevity.com.

ABOUT NICKEL ENERGY

Nickel Energy is a solar energy and energy efficiency company with a vision to make solar energy, the most affordable energy choice for Australian households. Through their commitment to customer service and quality systems, Nickel Energy has established itself as a trusted brand in the Australian solar industry. Nickel Energy has a commitment to supporting community and environmental organizations. Through the Sungevity.org platform they will build an Australian solar community that extends support to Australian nonprofit organisations. Nickel Energy's mission is to put solar power on every rooftop in Australia. This partnership with Sungevity^® Inc. will help realize that mission by removing the barriers for Australians to adopt solar energy. For more information visit www.nickelenergy.com.au.

SOURCE Sungevity