Project Traits
State: Louisiana
Congressional District: Unknown
Organization Type: Commercial
Partner Organization(s) Type: None or Unknown
Energy Sector: Clean Power, Buildings
Energy Subsector: Solar, Retrofit
Project Start Year: 2011
Project Launch Year: Unknown
Government Support Received: Unknown
Outcomes & Impacts
Private Investment: $600,000,000
Jobs Announced or Created: 750
People Served: 30,000
Projected Economic Impact: Unknown
PosiGen, a New Orleans–based rooftop-solar company, last month (December 2024) secured an additional $200 million in funding from Brookfield Asset Management. PosiGen caters to lower-income homeowners who are often overlooked by the big residential solar players.
PosiGen works with banks and financial institutions like Brookfield to finance the installation of solar panels with the help of tax credits. The panels are then leased to homeowners in an arrangement called third-party ownership — as opposed to the 20-year loans that other installers offer to homeowners to enable them to buy their own arrays. While rooftop solar panels might be the most visible, shiny piece of the PosiGen process, “somewhere between 25 and 75 percent” of the consumer’s monthly energy savings could come from efficiency measures such as sealing heating and cooling leaks, replacing thermostats, and installing LED lights, Healey said.
Since its founding in 2011, PosiGen has served more than 30,000 homeowners across 15 states — about half of them in communities of color — by offering annual savings of over 15 percent on electricity bills. PosiGen now has more than 750 employees with more than 65 percent of its staff identifying as women and/or Black, Indigenous, or people of color.