to-the-point: Residential solar firm PosiGen gets USD 20m of funds

Residential solar system. Author: David TREBOSC. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

April 16 (Renewables Now) - US residential solar firm PosiGen announced on Tuesday it has secured a USD-20-million (EUR 17.7m) tax equity investment from roofing products supplier GAF Energy.

PosiGen said that the fresh funds will support the installation of roughly 2,500 new solar systems and energy efficiency upgrades to homes in the states of Connecticut, Florida, Louisiana and New Jersey. The projects will benefit low-to-moderate income households, according to the announcement.

New Orleans, Louisiana-based PosiGen has served more than 14,000 customers to date.

(USD 1.0 = EUR 0.885)

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