One of the biggest criticisms of renewable energy is that low-income people don’t have access to it and that they, in fact, pay for others to go solar and are unable to see the benefits of clean energy first hand. A new partnership between PosiGen, NewWorld Capital Group, and Constellation Technology Ventures aims to change that by offering fully financed solar photovoltaic and energy efficiency services to low- to- moderate income homeowners in Louisiana, New York, Connecticut and Florida.
First, however, it must be said that it’s not so cut and dry. Numerous studies have show that many homeowners going solar are considered middle or even low-income. They're getting access to solar thanks to financing options with low to no up-front costs.
Still, allowing every one access to benefit from solar power is important and that’s where PosiGen shines.
"PosiGen's unique focus combining solar leasing with energy efficiency aligns well with our philosophy of expanding the types of energy products and services available to residential customers. In addition, we believe PosiGen's focus on low- to-moderate income customers can provide significant quality of life benefits in multiple markets nationwide,” said Michael Smith, head of Constellation Technology Ventures and vice president, Exelon Generation Innovation and Strategy Development.
"Tom Neyhart and his extraordinary management team have created a distinctive business model that serves a large and currently underserved market with strong economics and growth. We at NewWorld are very pleased to be partnering with the PosiGen management team,” said NewWorld Managing Partner Bill Hallisey.
The financial assistance provided will be used to support PosiGen's continuing rapid growth and development. “We are delighted to work with NewWorld and Constellation Technology Ventures to expand our presence in new states and continue to make solar and energy efficiency easy and affordable options for a large and underserved market,” said PosiGen CEO Thomas Neyhart.
PosiGen is unique that it’s the only U.S. residential solar company delivering low-cost options for rooftop solar and also energy efficiency improvements at the same time. Together they help reduce the energy costs experienced by low- to- moderate income households.Tweet