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UPDATE - New York's Sharing Economy Extended to Include Solar Energy

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NEW YORK, NY--(Marketwired - December 01, 2015) - Yeloha, the solar-energy sharing company, announced today that it is expanding to New York State.

"New York City thrives on shared resources," said Yeloha CEO and co-founder Amit Rosner. "We already share apartments, cars and bikes. New Yorkers can now add solar panels to that list. With Yeloha the sun is just a click away."

Access to solar and its benefits has, for too long, eluded New York residents who call apartments, lofts, or rented living spaces home. This will no longer be the case as Boston based Yeloha, aims to make solar power accessible even to New York apartment dwellers and renters beginning this spring.

The model is similar to Airbnb. Yeloha's Solar Sharing Network allows people without solar panels to get solar energy produced by hosts who have solar panels on their sunny roof. Subscribing to solar through a smartphone or on the web is simple because no panel installation is needed from the subscriber. Aside from being better for the environment, solar energy is actually now cheaper for consumers than standard electricity. Subscribers can expect to see their utility bills go down.

New York's major utility companies are already on board, so subscriber savings will appear directly on the consumer's current bill -- there will be no need to change energy providers. And if there isn't enough solar energy available at any particular time, the utilities will still provide electricity from other sources.

The Yeloha Solar Sharing Network is leveraging New York State's ambitious energy roadmap, called Reforming the Energy Vision, which has opened up its electrical grid to solar innovation. New York has an aggressive goal of goal of generating 50% of the state's electricity from renewable sources by 2030. "New Yorkers are environmentally conscious but most haven't had a way before to directly participate in the shift from fossil fuels to solar energy," said Rosner.

Host sites are expected to include commercial and nonprofit properties such as theaters, carports, places of worship, municipal buildings and more. Businesses and nonprofits will benefit from the opportunity to take an active role in making their neighborhoods a cleaner and "greener" place to live and establish themselves as a vital part of the fabric of the community.

The Boston-based Yeloha, which has raised $4.5 million in venture capital, already provides solar sharing services in multiple states.

Subscriber spots on Yeloha Solar Sharing Network will be limited at first, and will be assigned on a first come, first served basis. New Yorkers can now reserve their spot at www.yeloha.com/ny.

VIDEO: New Yorkers celebrating Solar Sharing: https://youtu.be/s1o7nZNLBhE

About Yeloha: Yeloha is the world's Solar Sharing Network. Our mission is to unleash the benefits of solar energy to all people, regardless of where they live and their economic status. Solar Sharing removes the obstacles going solar once presented (including needing your own roof!), changing the way people generate and pay for their electricity. Yeloha makes it simple and attainable to save money, support your local economy, and help save something else that could use your consideration these days: our planet. www.yeloha.com/ny

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