PosiGen, a New Orleans-based company specializing in marketing solar energy systems to lower-income households, has received a significant boost in investment from international firm Brookfield Asset Management. The $150 million investment brings Brookfield’s total investment in PosiGen to $400 million over the past year.
Founded in 2011, PosiGen has already installed nearly 30,000 solar systems in 15 states, saving homeowners nearly $66 million in utility costs. The company’s unique business model offers no credit check financing, making its services accessible to all households, regardless of credit score.
Brookfield’s investment will allow PosiGen to install solar systems in an additional 30,000 to 40,000 homes, furthering their mission of lowering working families’ monthly expenses. Connecticut Green Bank, the nation’s first statewide green bank, has also renewed its commitment to PosiGen with a $25 million assistance package to underwrite loans for solar installations.
Connecticut is PosiGen’s second-largest market, behind Louisiana, where the company has about 6,000 customers and 125 employees. With plans to install 12,000 to 14,000 solar systems this year, PosiGen is on track for a 40% to 47% increase in installations.
Benjamin Healey, president of capital markets and strategy for PosiGen, expressed gratitude for the continued support from investors and partners, emphasizing the company’s commitment to serving underserved communities and promoting clean energy solutions.
