Solar energy is the future. The renewable energy source is quickly gaining attention not just in the West but across the globe. In late 2023, a global poll revealed that 68% of those asked worldwide expressed support for solar energy. In comparison, only 14% were in favor of fossil fuels.
While solar power is popular, it isn't always accessible. The steep investment required to set up solar panels is a prohibitive barrier to many homeowners—which is where PosiGen is making a difference. The solar energy company has spent over a decade developing a unique business model that makes solar panels available to underserved communities, enabling them to cash in on savings and live more sustainable lifestyles in the process. Let's take a closer look at PosiGen's unique approach to solar and how it is creating the blueprint for sustainable solar power adoption moving forward.
PosiGen's Innovative Approach to Solar Power
The benefits of solar energy systems are well known. Once set up, a solar system can help lower utility bills, reduce harmful emissions, and even increase property values.
The key to that statement is "once set up." The cost of installing a solar system can be an overwhelming prospect for most consumers. According to recent estimates from MarketWatch, installing solar panels on the average home costs between $15,000 and $20,000.
This is the full-price installation cost. Both the federal and local governments have established many credits and tax incentives to encourage solar panel adoption. However, even when applying the sizable 30% federal solar tax credit available at the time of this writing, the total cost of an installation is typically well above $10,000.
PosiGen's business model is built to circumvent this up-front investment. Rather than charge customers for their solar panels, they lease entire solar systems. This allows for a quick installation and immediate monetary savings for households that otherwise would have to wait for months or years before being able to save up for a system. Once installed, PosiGen is able to make up the cost of the system over time.
Solar Energy that Is Accessible to All
The heart of PosiGen's successful solar energy model is a push to make solar energy accessible to everyone. PosiGen's mission statement reads: "We are making a difference in our communities and our world with solar power. By ensuring the families in the underserved communities we serve have access to affordable solar power, we can support PosiGen's four primary goals."
Those goals are:
- Making a positive impact on the families that PosiGen serves.
- Positively impacting the underserved communities within which those families live.
- Providing job opportunities within those underserved communities, as well.
- Improving the environment through accessible, eco-friendly energy options.
PosiGen's vision was born out of the experience its founding team had when helping those impacted by Hurricane Katrina nearly two decades ago. During that experience, the group discovered that despite a plethora of programs designed to support a strong rebuild, many initiatives were not accessible to any but the most wealthy residents.
Those living in underserved communities had to take shortcuts and fall back on older, less sustainable energy solutions. The rampant disparity inspired the group to invest in a solution that could bring better energy solutions to these underserved groups, not just in New Orleans but across the United States.
PosiGen's leasing business model enables the company to improve the accessibility of its solar systems. For example, the hefty cost of traditional installations often requires financing. Taking out a loan means a homeowner must have a certain income level and a good enough credit score.
PosiGen can skip the need for these financial qualifications, as it is able to generate savings that can both reduce the burden of homeownership and pay for its systems. The company also conducts energy audits before each installation to ensure a home is a good candidate before installing a leased system.
The PosiGen Path to Solar Energy
From no-money-down leasing to lower monthly payments, the PosiGen approach to solar energy is uniquely suited for bringing sustainable energy solutions to underserved communities. To date, the company has provided its affordable and accessible solar service to tens of thousands of households, and it shows no sign of slowing down.
In a world where solar energy will be critical to the future of energy, PosiGen is invested in ensuring that it is available to everyone who wants a piece of the action, regardless of their financial resources.
