An innovative public-private partnership that is making clean energy more accessible and affordable to families susceptible to rising energy costs
Bridgeport, CT (July 21, 2015) – Governor Malloy toured the house of Susan Young in Bridgeport on Tuesday,to view the installation of solar power and energy efficiency measures –financed through a public-private partnership between PosiGen Solar Solutions and the Connecticut Green Bank. The innovative financing program combines a solar lease with an energy savings agreement to lower the energy burden of participating households. Accompanying the Governor wereBryan Garcia, president and CEO of the Connecticut Green Bank, Thomas Neyhart, CEO of PosiGen, and Chris Anastasi, Sustainability coordinator for the City of Bridgeport.
In a concerted effort to extend the reach of the Governor’s renewable energy policies, the Green Bank teamed up with PosiGen, a New Orleans solar company that recently located its New England business in Bridgeport, CT.Focused on closing on what many see as a clean energy affordability gap, the partnership is designed to give people like Ms. Young access to an affordable solar leasing structure that will deliver energy savings for this often overlooked market segment.
“We are making Connecticut greener, cleaner and more efficient than ever before, and in the process we’re helping residents save on energy while creating thousands of new jobs in the industries of the future,” Governor Malloy said. “These initiatives help the state meet the growing homeowner demand for residential solar, and we’re doing it through cost-effective solutions that increase private investment and use less ratepayer and taxpayer incentives. Connecticut is helping lead the nation in the clean energy advancements of tomorrow.”
PosiGen focuses its efforts on improving the financial sustainability of low-to-moderate income families who are most susceptible to rising energy costs by reducing their energy consumption and providing opportunities to leverage state and federal incentives. “We are excited to be partnering with the Connecticut Green Bank to enable innovative financing through a combination solar lease and energy savings agreement offering,” says Mr. Neyhart. “We are making the combination of solar and efficiency upgrades more accessible and affordable for low-to-moderate income families that need to reduce their household energy burden.”
The Connecticut Green Bank is investing in PosiGen to provide low-cost debt capital and a tiered incentive for participating households in communities across the state. “This partnership with PosiGen, and their private investors, will lower the energy burden on limited income households through financing and the deployment of clean energy,” states Mr. Garcia. “As Connecticut continues to deploy more and more clean energy in our communities, we want to ensure that everyone has the opportunity to realize the benefits it offers.”
“I am excited to be one of the first homeowners in Connecticut to take advantage of the PosiGen offering to lower my energy costs,” says Ms. Young, theBridgeport homeowner. “I was able to install a solar power system, insulation, water-savings aerators and CFL light bulbs, which are already providing energy savings that I can put to better uses for my households.”
“I am thrilled with the work PosiGen did on my house. I did not think I could afford to install solar panels to help with my energy costs, however, the lease option made it possible, I am so happy to help protect our environment. I encourage other homeowners to look into their options to cut down on their energy costs.”
About the Connecticut Green Bank
The Connecticut Green Bank (formerly the Clean Energy Finance and Investment Authority) was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation’s first full-scale green bank, it is leading the clean energy finance movement by leveraging public and private funds to scale-up renewable energy deployment and energy efficiency projects across Connecticut. The Green Bank’s success in accelerating private investment in clean energy is helping Connecticut create jobs, increase economic prosperity, promote energy security and address climate change. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com.
About PosiGen Solar Solutions
Headquartered in New Orleans, PosiGen Solar Solutions is one of the nation’s leading residential solar, energy efficiency and energy education providers. PosiGen has more than 6,000 residential customers, 165 direct employees and 150 contract employees in Louisiana, Connecticut and New
York. PosiGen’s unique services and products make solar energy affordable to homeowners ofall income levels, and offer individuals, families and businesses the opportunity to achieve greater fiscal autonomy and energy independence by lowering their utility bills. To learne verything about PosiGen, please visit www.posigen.com.
For More Information, Contact:
Connecticut Green Bank
McDowell Jewett Communications