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Funding enables GivePower to continue modeling sustainable development projects around the world
Oct 20, 2016

SAN MATEO, Calif. –  GivePower Foundation, a non-profit organization that uses solar energy technologies to deliver essential community services to the developing world, was awarded a second $500,000 grant from the Bank of America Charitable Foundation, totaling $1 million in grant funding in the past year. Funds from the new grant will support GivePower’s expansion into seven strategic sectors – education, water, health, food security, economic development, telecommunications and conservation – and help provide the equipment, training and labor for solar installations across the globe. The donation is part of the continued partnership between Bank of America Charitable Foundation and GivePower Foundation, which together have brought light to nearly 1,000 schools and communities since 2015.

The projects completed not only serve the immediate need of bringing solar power to areas that currently lack basic energy infrastructure, but also contribute to long-term solutions by providing opportunities that come with reliable electricity access such as improved communication, increased earning potential, better air and water quality, and more.

“We are extremely honored to receive our second grant from Bank of America Charitable Foundation and grateful for its continuous support in our mission to empower villages and communities through solar energy,” said Hayes Barnard, President of GivePower Foundation. “This generous donation will further help GivePower Foundation bring critical community services to people who need it the most.”

This donation aligns with Bank of America's commitment to help transition to a sustainable low-carbon future. Last year, Bank of America committed more than $16 million in environmental philanthropy to provide sustainable solutions to real challenges facing the communities in which it operates around the world.

“Access to affordable and clean energy is critical to ensuring the potential of communities around the world and is a core objective of the United Nations Sustainable Development Goals,” said Alex Liftman, Global Environmental executive at Bank of America. “We’re pleased to continue our partnership with GivePower Foundation and bring the opportunities created by clean power to even more communities around the world.”

To learn more about Bank of America’s environmental sustainability commitments and its $125 billion environmental business initiative, please visit www.bankofamerica.com/environment. To learn how you can partner with the GivePower Foundation to improve the lives of people in impoverished communities, please visit www.givepower.org.

About GivePower Foundation

The GivePower Foundation is a 501c3 non-profit organization committed to extending the environmental and social benefits of clean, renewable energy across the world. GivePower uses solar energy and storage technologies to deliver the most essential community services to the developing world. Originally created by SolarCity, the Foundation has helped power some of the economically poorest countries, including communities across more than a dozen countries in Africa, Asia, and Latin America. Visit GivePower online www.givepower.org and follow the organization on Facebook & Twitter.

About Bank of America

At Bank of America, our focus on Environmental, Social and Governance (ESG) factors is critical to fulfilling our purpose of helping make people’s financial lives better. Our commitment to growing our business responsibly is embedded in every aspect of our company. It is demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our customers, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocate groups, such as community and environmental organizations, in order to bring together our collective networks and expertise to achieve greater impact. Learn more at www.bankofamerica.com/about, and connect with us on Twitter at @BofA_News.

2015 Bank of America Business Standards Report

This release contains forward-looking statements including, but not limited to future installations and funding resources. 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.