Project, expected to be among the largest of its kind, will make solar-powered, net-zero homes available in five states

SAN MATEO, Calif., Feb. 22, 2012—SolarCity®, a national leader in clean energy services, and Shea Homes, one of the country's largest privately-held home builders, have partnered to make a "no electric bill" home available to homebuyers in all Shea Homes Active Lifestyle® and Trilogy® communities in Arizona, California, Florida, Nevada and Washington. Branded as SheaXero the no electric bill home™, the partnership with SolarCity will make net-zero the standard offering at all ten of Shea's Active Lifestyle and Trilogy Communities. SheaXero homes aim to achieve net-zero electric bills by generating as much electricity as they consume[1] through a blend of energy-efficient features and a solar power system that is included in the home's purchase price.

Shea's partnership with SolarCity is expected to be one of the largest net-zero electric home projects in the U.S. when completed. The partnership allows SolarCity to provide solar services to homeowners in Florida and Nevada for the first time.

"With electricity prices and pollution levels on the rise, American homeowners want better energy choices," said Walter Cuculic, SolarCity's national manager of home builder programs. "We partnered with Shea Homes to make clean energy accessible and affordable for more home buyers."

The solar panels SolarCity installs on SheaXero homes will generate clean, renewable energy that saves money and offsets electricity consumption. The homes will feature a suite of 11 energy-saving features, including energy-efficient Trane® HVAC systems, Jenn-Air® Energy Star® appliances, high-performance insulation and dual-pane, low-e windows.

"SheaXero homeowners can save thousands of dollars per year on energy costs," said Rick Andreen, president of Shea Homes Active Lifestyle Communities. "Net-zero homes protect owners from the impact of electricity rate increases while safeguarding the environment for the next generation."

SheaXero is available at all Shea Active Lifestyle and Trilogy Communities, with certain exceptions based on plan and home site orientation. The new standard was introduced to buyers in all 10 Trilogy and Shea Homes Active Lifestyle communities across the country this week. More information about SheaXero homes, including SheaXero Studio locations, is available at www.SheaXero.com.

About SolarCity

SolarCity®—a national leader in clean energy services—was founded with the mission to help homeowners, business and government organizations adopt clean power, protect themselves from rising gas and electricity costs and protect their environment from polluting power sources. The company's service options can make it possible for customers to switch to clean energy for less money than they currently pay for electricity. SolarCity's 26 operations centers serve Arizona, California, Colorado, Connecticut, Delaware, the District of Columbia, Hawaii, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Texas and Washington. Additional information about the company is available on the Web at www.solarcity.com.

About Shea Homes Active Lifestyle Communities

Trilogy communities are high-end retirement resort communities offering a new choice in living to those looking for an exciting lifestyle that revolves around wellness, exploration, continued learning and close personal connections. Architecturally superior product design and amenities reflect the changing needs of the baby boom generation, including business services, world-class clubs, state-of-the-art fitness facilities and a diverse range of recreation and education opportunities. Trilogy is committed to addressing boomers' growing concern about the environment and energy usage, and now offers SheaXero new homes for sale across its portfolio, delivering substantial energy savings to home owners while significantly reducing each home's carbon footprint. More information about 55+ communities at Trilogy is available by visiting www.TrilogyLife.com or calling (800) 685-6494.

Homeowners are also members of the resort-style clubs at each community, where they enjoy activities such as wine tasting, working out in state-of-the-art athletic clubs, swimming, artistic classes, cooking classes in professional demonstration kitchens and championship golf and tennis. Members also benefit from delicious on-site dining with signature Good Life Cuisine™, connecting with the world at internet cafes and relaxing in full-service day spas, all amongst people who share a spirit of fun and exploration during this exciting stage of life.

About Shea Homes

Shea Homes is one of the oldest and largest private homebuilder in the nation. Since its founding in 1968, Shea Homes has closed in excess of 86,000 homes. Shea Homes builds homes that deliver quality craftsmanship and design that best fit varied lifestyles and budgets. Over the past several years, Shea Homes has been recognized as a leader in customer satisfaction with a reputation for quality, design and service. For more about Shea Homes and its communities, visit www.sheahomes.com.