New Orleans-Based PosiGen Raises $20 Million in Tax Equity Funding

PosiGen is a New Orleans-based residential solar, energy efficiency and energy education providers for low-to-moderate income households.

The company recently announced a tax equity investment from GAF Energy totaling $20 million. The funding will go towards 2,500 new solar systems in Louisiana, Florida, Connecticut, and New Jersey. PosiGen currently has roughly 14,000 residential customers throughout the four states.

“We believe it’s important to ensure that all Americans can participate in the growth and expansion of renewable energy, as we pursue energy from every roof,” said Martin DeBono, President of GAF Energy. “This partnership is a great example of how we are working to help empower low and moderate income families with the sustainable cost savings from residential solar.”

GAF Energy, part of Standard Industries, focuses on the rooftop solar industry, while also providing tax equity for renewables projects. “GAF Energy is a world class leader in roofing and solar technology with a sterling reputation,” said Tom Neyhart, PosiGen CEO.