PosiGen Expands Funding Commitment to Support Solar Energy Initiatives in Underserved Communities

PosiGen's Commitment to Accessibility in Solar Energy

In an important development for renewable energy, PosiGen, a Public Benefit Corporation (PBC), has secured a $200 million increase in funding from Brookfield Asset Management. This move marks the third phase of a funding commitment aimed at enhancing the accessibility and affordability of solar energy solutions for families traditionally excluded from the solar market. The collaboration started in 2023, during which Brookfield has committed a total of $600 million to support PosiGen’s initiatives.

PosiGen is known for its pioneering approach to solar energy, particularly its focus on underserved communities. By eliminating barriers such as credit score checks and income requirements, the company has made it possible for many families to save money through renewable energy solutions. This is a significant step toward achieving equality in energy access.

Peter Shaper, PosiGen's CEO, expressed pride in their expanding partnership, remarking that the funding assists in providing savings to homeowners in underserved areas. This sentiment echoes their broader mission: to not just deliver solar energy but to democratize access to it.

Ben Healey, President of Capital Markets and Strategy at PosiGen, highlighted the mission to bring meaningful savings and sustainable energy to all communities. The newly obtained funds will enable PosiGen to drive the growth of its operations further, including projects sourced through its direct sales engine and its expanding channel partner platform.

This investment is viewed as a win-win by both organizations. Brookfield’s co-head of infrastructure debt, Hadley Peer Marshall, acknowledged PosiGen’s unique capacity to meet customer needs while navigating the complexities of the renewable energy market. The strong partnership is a testament to Brookfield's confidence in PosiGen's proven business model and its scalability.

PosiGen's Impact and Future Goals

Since its establishment in 2011, PosiGen has transformed the landscape of solar energy. The company has adopted a "no credit check" financing model, addressing the critical issue of accessibility for lower-income families. Today, they have over 750 employees and have provided services to nearly 30,000 customers across numerous states.

As PosiGen expands its operations, they are looking to not only enhance their solar offerings but also to create additional renewable energy job opportunities through their Partner Program. This initiative supports a network of value-aligned solar service providers, further amplifying their impact on the communities they serve.

The message is clear: the future of energy in America must include all communities, especially those that have historically been marginalized. With Brookfield’s continued support, PosiGen is poised to make significant strides in achieving this goal, demonstrating that sustainable energy isn’t just for those who can afford it—but is indeed for everyone.

Conclusion

As PosiGen embarks on this new chapter of growth and innovation, the landscape of solar energy accessibility is poised to change. With strategic partnerships and a focus on underrepresented communities, the potential benefits of clean energy solutions are within reach for many, thus paving the way for a greener and more equitable future.