California Governor, Environmentalists & Members of Congress Recognize Lennar for Ground-Breaking Solar Lease Program

PRESS RELEASE MIAMI, Jun 15, 2010 (BUSINESS WIRE)

Lennar Corporation, one of the leading U.S. builders of quality homes, announced today that the Company is the first high-production homebuilder in the U.S. to successfully launch a solar lease program that virtually eliminates up-front costs and provides homeowners with below-market energy rates.

In partnership with SunPower Corporation, Lennar introduced the innovative leasing program last year with sales of energy-efficient Lennar homes in California. Under the program, called SunPower Access, Lennar homeowners lease a high-efficiency solar system that generates most of a home’s electricity at a cost below current utility rates for the average homeowner. As utility rates increase, so will savings—providing homeowners a hedge against soaring energy costs.

Lennar’s solar-leasing program is supported by a wide range of government, business and environmental leaders, including California Governor Arnold Schwarzenegger.

“California’s green policies are promoting the expansion of clean, renewable energy in our communities and growing our green economy,” Gov. Schwarzenegger said. “It is companies like Lennar and these innovative partnerships that are creating jobs now while helping us reach a cleaner, more sustainable future.”

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