The Power Project Brings Together Energy-Saving Technology and Solutions to Address America’s Energy Burden

Nest Collaborating with Habitat for Humanity, Fannie Mae, and Energy
Providers across America, to Bring Energy Efficiency to Those Who Need
It Most

PALO ALTO, Calif.–(BUSINESS WIRE)–Since 2011, Nest thermostats around the world have helped customers save
more than 22 billion kilowatt-hours (kWh) of energy. This Earth
Day, Nest Labs, Inc. (www.nest.com)
is announcing a commitment to continue those energy-saving efforts by
helping income-qualified Americans get access to affordable energy
solutions like the Nest Thermostat E through a new initiative – The
Power Project.

The Power Project was driven largely by the vast discrepancy in the cost
of home energy for households across America, according to statistics:

• The average American household spends around 3.5 percent of their
  income on energy bills each month, and data shows that the threshold
  of affordability is around 6-10 percent.
• In reality, one in five families actually spends 20 percent or more –
  and as much as 50 percent in some parts of the country – on utilities
  each month.
• On average low-income households spend three times more of their
  income each month to heat and cool their homes than the average
  household in the U.S.
• Energy insecurity creates other problems – families are often faced
  with difficult tradeoffs between energy bills and rent, food, and
  healthcare.

Nest pledges one million thermostats to low-income homes

As part of The Power Project, Nest has committed to helping to install
one million energy- and money-saving thermostats in low- and
moderate-income homes over the next five years. The company will
collaborate with utility programs, government and housing finance
agencies, as well as non-profit organizations that work to bring energy
efficient technology to the millions of Americans who qualify for
income-based assistance programs, including:

• Habitat for Humanity – Nest will provide 4,000 Nest
  Thermostat E units to Habitat for Humanity. In an effort to help
  families build affordable homes that are safe and energy efficient,
  Nest Thermostat E will be available to local Habitat organizations for
  homes they are building or improving in the U.S. in 2018.
  Additionally, Nest will donate 10 percent of the proceeds of all
  thermostats sold between April 16-30, 2018, to Habitat in support of
  the nonprofit organization’s work to help families build strength,
  stability and independence through shelter.
• Fannie Mae – Fannie Mae to offer Nest Thermostat E to save
  energy and money in Fannie Mae homes. In select markets, some
  borrowers with HomeReady® – Fannie Mae’s flagship low- to
  moderate-income mortgage program – will receive a smart
  thermostat for their homes to experience how access to energy saving
  technology may lower total homeownership cost and help preserve
  affordable housing.
• Utility Partners – Nest energy partners, including the
  largest gas company in the U.S., Southern California Gas, will once
  again join forces to strengthen the options and relief available for
  qualifying households. Many income-qualified customers around the U.S.
  will be able to access utility programs aimed at making homes more
  energy and cost efficient, thereby lowering the energy burden.

“Creating a home that takes care of the people inside it and the world
around it has been Nest’s mission since day one,” said Jeff Hamel, head
of energy partnerships at Nest. “We’ve joined with Habitat for Humanity,
Fannie Mae, and energy providers across the country this Earth Day to
bring this mission to life through The Power Project, to connect
families with the tools and programs that can help alleviate the burden
of high energy costs. Every family deserves to have heat in the cold and
light in the dark.”

Statements from The Power Project Collaborators

“Too often, the people who would benefit most from energy upgrades are
least able to afford them,” says Jonathan Reckford, CEO of Habitat for
Humanity International. “We are grateful to Nest and the opportunities
that energy-efficient thermostats can provide for families who partner
with Habitat. Having an affordable mortgage, combined with savings in
utility costs, means that families can have more to spend on other
basics like food, clothing, medicine and savings.”

“We are excited to support smart ways for families to incorporate energy
efficiency options in their homes,” said Fannie Mae’s Jonathan Lawless,
vice president for product development & affordable housing. “Providing
simple, effective means to lower energy costs can help homeowners reach
their goals of responsible and sustainable homeownership.”

“At SoCalGas, we understand that low energy bills are important to our
customers; we are always working to keep natural gas bills affordable
and are excited to expand our partnership with Nest to provide access to
energy management technologies to more households,” said Lisa Alexander,
vice president of customer solutions, communications and environmental
strategy at SoCalGas. “Our energy efficiency and rebate programs empower
customers to save money on their energy bills while also driving down
greenhouse gas emissions; over the past five years, these programs have
saved customers $161 million, and since 1990, they have reduced
emissions equal to taking almost 700,000 cars off the road.”

To learn more about The Power Project, visit nest.com/powerproject.

About Nest

Nest’s mission is to create a home that’s thoughtful – one that takes
care of the people inside it and the world around it. The company
focuses on simple, beautiful and delightful hardware, software and
services. The Nest Learning Thermostat™ and Nest Energy Services keep
you comfortable and can help reduce energy consumption. The Nest
Protect™ smoke and carbon monoxide alarm helps keep you safe and the
Nest Safety Rewards program lets you save money through participating
home insurance providers. The Nest Secure™ alarm system, Nest Cam™
security cameras, and Nest Hello™ video doorbell help keep an eye on
home from anywhere.

Nest products are sold in 20 countries and have been installed in almost
every country in the world. The Nest Learning Thermostat has helped save
approximately 22 billion kWh, enough energy to power the planet for one
hour. And through the Works with Nest program, third-party products can
securely connect with Nest devices to make homes safer, more energy
efficient and more aware. More than 30,000 Nest Pros around the world
help install Nest products.

For more information, visit www.nest.com.

Contacts

Nest Labs, Inc.
Mallory Richards
[email protected]