Hurricane Katrina was followed by 16 different programs that aimed to restore the lives of people who were affected. Nonetheless, the restoration programs targeted the wealthy residents of New Orleans, leaving the low-to-moderate income families in complete devastation. The disparity captured the attention of PosiGen CEO Thomas Neyhart and investors who founded PosiGen Solar, a solar energy company working to implement solar for all families.
PosiGen solar power firm encouraged lower income families to install solar panels by using the savings approach. The solar company only installs solar to customers who will save money in the long run. The company credits its approach to selling solar power systems to the constant growth over the years. Through leasing and purchasing, PosiGen CEO informs that the company has installed solar panels to more than 18,000 customers in the United States.
Nonetheless, leasing is the preferred option, with more than 12,000 families opting for the lease package. The lease package offers immense benefits, such as energy efficiency upgrades, easy monthly installments, installation, and system monitoring. On the other hand, PosiGen CEO adds, families who decide to buy the systems enjoy benefits such as a wide range of financing options, increased home value, and 12 years’ system monitoring. Regardless of the acquisition options, the customer saves money through net metering.
Solar installation is usually completed in five steps – design and engineering, permit and approvals, installation, inspection, and activation. The money-saving aspect of PosiGen solar energy is the two-directional net meter. Net metering allows customers to save money on energy by crediting them for the excess energy produced by their solar panels. For PosiGen CEO, the customer can always redeem the credits for free electricity from the grid in case the panels produced don’t meet the energy demands. However, if the energy produced is insufficient, the customer gets the deficit from the grid.