POSIGEN HOSTS TREASURY SECRETARY JANET YELLEN AT ITS NEW ORLEANS AREA HEADQUARTERS

NEW ORLEANS, July 11, 2023 /PRNewswire/ -- PosiGen, the nation's leading provider of renewable energy and energy efficiency solutions for low- to moderate-income homeowners, recently welcomed Department of the Treasury Secretary Janet Yellen to its corporate headquarters in St. Rose, located just outside of New Orleans. The visit happened June 30, 2023, at PosiGen's home-base to 600 employees, which is one of ten PosiGen locations nationwide.

The Secretary's visit focused on the Inflation Reduction Act and its transformative potential impacts on the markets PosiGen serves, including low- to moderate-income communities in the New Orleans Metropolitan area. The IRA provides generous tax incentives for clean energy technologies as well as specific support for companies to invest in low-income communities. Since its founding in 2011, PosiGen has helped these underserved communities pursue energy independence through rooftop solar and energy efficiency upgrades. The IRA will accelerate PosiGen's efforts to reach even more homeowners with its Solar For All programs. 

PosiGen's Executive Chairman Tom Neyhart remarked, "We were honored to host Secretary Yellen and to show her what makes PosiGen special. We have been serving disadvantaged communities for over a decade, so we understand both the unique needs of these communities and how important the IRA is for them going forward. PosiGen, with the help of the IRA, will continue to break down the financial and non-financial barriers to serving disadvantaged communities as we make Solar for All a reality."

With the American Council for an Energy-Efficient Economy (ACEEE) reporting 25% of low-income households struggle to pay their electricity bills, the need for the kinds of benefits provided by the IRA remains widespread. 

"The IRA provides unprecedented support for households to reduce their energy burden through solar, energy storage, and energy efficiency," added PosiGen's CEO Ben Healey. "This kind of Federal commitment will help accelerate PosiGen's growth as we aim to provide deeper savings for our customers. We are committed to ensuring that no community is left behind in the clean energy transition."

In her remarks after her visit with the PosiGen team, Secretary Yellen pointed out that the IRA is driving a manufacturing boom that is strengthening the economy, creating good-paying jobs and lowering costs for consumers. She addressed the Biden Administration's investment across the country through the Bipartisan Infrastructure Law, as well as the CHIPS and Science Act, in addition to the IRA. Secretary Yellen emphasized the IRA's focus on ensuring that the clean energy transition benefits all communities, particularly those that have been historically underserved. She also highlighted how the IRA will benefit companies like PosiGen and states like Louisiana. 

"The Inflation Reduction Act incentivizes companies to invest in underserved communities," remarked Secretary Yellen. "It also incentivizes investments in communities that have been at the forefront of energy production and experienced job loss, including many communities here in Louisiana. We are also making sure that the workers building the clean energy economy actually benefit from it."

Yellen continued, "Clean energy presents one of the most transformative economic opportunities in modern history. We are making sure that the clean energy transition will bring along every community – particularly those that were at risk of being left behind."

Click here to watch Secretary Yellen's full remarks from PosiGen headquarters on June 30, 2023.

PosiGen is committed to bringing solar to all under-resourced homeowners and has been part of the charge to bring the legislation to life. PosiGen provided key stakeholder input into the development of the Inflation Reduction Act, published its thoughts on the  Additional Guidance on Low-Income Communities Bonus Credit Program, and filed comments in response to that additional guidance on June 29, 2023.

About PosiGen: 
PosiGen is the nation's leading residential solar and energy efficiency provider for low-to-moderate income homeowners. Headquartered in Louisiana since its founding in 2011, PosiGen has served more than 25,000 residential customers in California, Connecticut, Louisiana, Mississippi, New Jersey, New York, Pennsylvania, Maryland, Massachusetts, and Washington D.C. The PosiGen family has more than 600 direct employees and supports and supports many more through its subcontractor and channel partner relationships. PosiGen's Partner Program, which helps value-aligned partners offer PosiGen's best-in-class lease product, has helped another several thousand homeowners go solar since its inception in 2021. PosiGen stays true to its mission to make solar energy affordable for homeowners of all income levels, while helping customers achieve greater fiscal autonomy and energy independence through lower utility bills. Learn more about PosiGen's Solar for All mission at www.PosiGen.com

Photos:

(1)   Treasury Secretary Janet Yellen with PosiGen Executive Chairman Tom Neyhart and CEO Ben Healy at the company's Louisiana Headquarters.              
(2)   Treasury Secretary Janet Yellen with members of the PosiGen team at the company's Louisiana Headquarters.

SOURCE PosiGen