PosiGen Secures $20 Million in Tax Equity Funding

Financing Will Support 2,500 New Solar Installations and Energy Efficiency Upgrades for Low-to-Moderate Income Families

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Apr 16, 2019, 07:12 ET

NEW ORLEANS, April 16, 2019 /PRNewswire/ -- PosiGen, the nation's leading provider of renewable energy and efficiency solutions for low-to-moderate income households, is pleased to announce a $20 million tax equity investment from GAF Energy that will support installation of approximately 2,500 new solar systems and energy efficiency upgrades to homes owned by low-to-moderate income families in Connecticut, Florida, Louisiana, and New Jersey.

GAF Energy, a Standard Industries company working to transform the rooftop solar industry, offers integrated solar solutions that are easily installed as part of the millions of roof replacements happening every year in the U.S. GAF Energy also provides tax equity for commercial and industrial scale renewables projects.

Since 2011, PosiGen has worked to close the clean energy affordability gap by delivering lower utility bills and other benefits of clean energy through solar panels and energy efficiency upgrades to low-to-moderate homeowners. To date, the company has served over 14,000 customers.

"We believe it's important to ensure that all Americans can participate in the growth and expansion of renewable energy, as we pursue energy from every roof," said Martin DeBono, President of GAF Energy. "This partnership is a great example of how we are working to help empower low and moderate income families with the sustainable cost savings from residential solar."

"GAF Energy is a world class leader in roofing and solar technology with a sterling reputation," said Tom Neyhart, PosiGen CEO. "PosiGen makes solar available to every homeowner, regardless of income or credit score. Together, we have the ability to reach thousands of households traditionally unable to access the benefits of rooftop solar, and that is the most exciting part to us."

About PosiGen:
Headquartered in New Orleans, LA, PosiGen is one of the nation's leading residential solar, energy efficiency and energy education providers for low-to-moderate income families. PosiGen has more than 14,000 residential customers, over 220 direct employees and supports more than 120 employees through its contractors in Louisiana, Connecticut, New Jersey and Florida. PosiGen's unique services and products make solar energy affordable to homeowners of all income levels, and offer individuals, families and businesses the opportunity to achieve greater fiscal autonomy and energy independence lowering their utility bills. To learn everything about PosiGen, please visit www.posigen.com.

Press Contact:
Amy Barrios
Phone: 504-621-5646
Email: [email protected]

SOURCE PosiGen