Geostellar Partners with Etsy to Launch Residential Solar Initiative for Etsy Community

Etsy Solar Redefines Community Benefits with Launch of Greenhouse Gas
Emissions Reduction Program on the Geostellar Platform

BROOKLYN, N.Y.–(BUSINESS WIRE)–#cleanenergyGeostellar,
the nation’s first and largest online solar
marketplace, today officially announced a partnership with Etsy,
Inc.
, a marketplace where people around the world connect to make,
sell and buy unique goods, to launch a new pilot program called Etsy
Solar
. The program will help members of the Etsy community install
solar panels on their homes or studios at deeply discounted prices,
while creating verified carbon emissions reductions.

Etsy plans on using these emissions reductions in aggregate — pending
approval from each participant — to create offsets that will be applied
on a yearly basis against its marketplace shipping emissions (95% of the
company’s overall carbon footprint) to meet its long-term goal of
running a carbon neutral marketplace.

When a new participant applies for the Etsy Solar pilot program,
Geostellar will instantly and interactively tailor a solar energy
installation and financing plan to meet the unique needs of each
individual household. Geostellar will then provide a discount based on
the potential contribution of the clean solar energy generation toward
the comprehensive emissions reduction goals of the Etsy community. Etsy
developed the process according to Gold Standard requirements to enable
those reduction rights to be validated, verified and registered as
carbon offsets.

“When we initially came up with the concept, it was difficult to find a
partner who would be up for the challenge of building a new type of
program that will significantly reduce barriers to going solar and allow
participants to contribute the distributed offsets they generate to a
single project across the community,” said Chelsea Mozen, Senior Energy
& Carbon Specialist at Etsy. “Ultimately, it was clear to us that
Geostellar’s platform and vision was best suited to make Etsy Solar a
reality.”

Geostellar and Etsy collaboratively designed Etsy Solar to quantify the
emissions reduction associated with each solar installation, transfer
the emissions reduction and compensate the homeowner at the Social Cost
of Carbon, with current discounts at $37 per metric ton CO2e.

Starting with pilot programs in Florida, New York, West Virginia, and
Utah, participating Etsy community members will receive an average
discount of $2,000 for a typical installation based on the estimated
solar energy production and the emissions intensity of the regional
electricity grid. In areas where emissions reduction attributes cannot
be transferred to Etsy by community members due to regulations or
competing incentives, an alternative discount will be offered to
encourage nationwide participation.

“We are so pleased that Etsy selected our platform to support such an
innovative, game-changing climate initiative,” said David Levine, CEO of
Geostellar. “We are eager to provide an exceptional solar experience for
the members of Etsy’s community.”

Emissions reductions will be validated and verified according to the
Clean Development Mechanism (CDM) defined by the Kyoto Protocol under
the auspices of the United Nations. Etsy Solar has been designed
according to Gold Standard requirements.

This is the first time Gold Standard verified offsets will be created
for the distributed generation of renewable energy in the US. Etsy and
Geostellar have partnered together to bring this new model for creating
carbon offsets and community engagement with a best-in-class big data
solar platform. This initiative will pave the way for other
organizations to support the scaling of residential solar and carbon
finance at the social cost of carbon.

As part of the pilot program, Geostellar will provide the discount of
$37 per metric ton CO2e to the first 100 qualifying households that
go solar directly through Geostellar’s
sponsored solar program
. Customers that do not qualify for
the verified emissions reduction program due to conflicting state or
utility programs will receive an alternative discount of $500.

About Geostellar

Geostellar is America’s first and largest solar energy marketplace, with
the only instant, interactive solar profile that tailors solar
equipment, installation and financing plans to best meet the unique
needs of each individual household. Our patented platform lowers the
cost of solar, making it more competitive with conventional electricity
and providing homeowners with greater savings on electric bills. The
result is more accessible, affordable and plentiful clean solar power
for America. Solar Mojo, an app for the iPhone and iPad, is available
for download at https://itunes.apple.com/us/app/solar-mojo/id720891584?mt=8
For more information, visit www.geostellar.com. Follow
us on Twitter @geostellar and
like us on Facebook.

About Etsy

Etsy is a marketplace where millions of people around the world connect,
both online and offline, to make, sell and buy unique goods. The Etsy
community includes the creative entrepreneurs who sell on our platform,
thoughtful consumers looking to buy unique goods in our marketplace,
retailers and manufacturers who partner with Etsy sellers to help them
grow their businesses, and Etsy employees who maintain our platform and
nurture our ecosystem. Our mission is to reimagine commerce in ways that
build a more fulfilling and lasting world, and we’re committed to using
the power of business to strengthen communities and empower people. Etsy
was founded in 2005 and is headquartered in Brooklyn, New York.

Contacts

Geostellar PR
Ellen Backus, 612-616-2991
ellen@gaiapr.com
or
Etsy
PR
Ariana Anthony
press@etsy.com