While solar panels and the electrical components that come with solar systems are relatively standard, every home is unique. Also, private customers and businesses have different needs, and external factors such as HOAs, location, and weather can affect the solar decision. PosiGen CEO Thomas Neyhart shares some of the advantages of installing a PosiGen solar system and how the company is working to improve access for everyone.
Although solar systems across the country help thousands of customers - both residential as well as commercial - save money on electricity and generate power more sustainably, many would-be solar customers wonder whether solar would work for their home or business.
The question is well-founded. Consider a home in a wooded area that has low electrical requirements, a home with an unconventional rooftop, or homes in areas where it is often cloudy. A solar solution may not make economic sense for such users. At PosiGen, however, CEO Thomas Neyhart focuses on making the solar decision easier for everyone by following a simple pre-installation checklist and making the benefits of going solar as clear as possible.
The first step is to analyze the historical energy usage of the prospective climate. Those figures are compared to the solar energy potential of the home for a year with a standard installation. Based on the results of the assessment, PosiGen calculates how much the customer stands to save by going solar.
PosiGen only moves forward with an installation if the customer will save by installing a system. If solar does not work for the customer or the cost of an installation would be more than the long-term savings that the system would generate, then the company does not move ahead with the installation.
If, however, the feasibility assessment indicates that solar would work at the site in question, PosiGen offers a long-term lease with no minimum credit score and no minimum income requirements. The customer can lock in a fixed monthly rate that includes installation costs, regular maintenance, and efficiency improvements added to the total cost.
Customers can save both by leasing as well as by buying their solar system. When buying a system, the customer must pay the full price for the system upfront. If a customer has the funds needed to buy a system, it might make sense for them to do so even if it will take a few years before they break even and start recovering the money spent on their system.
On the other hand, leasing requires no upfront cost. You do not need to spend anything to start saving with a PosiGen solar system. Your system will only offset some of your electrical bill based on how much electricity your home or business generates. You can also lock in your electricity rate and enjoy the same fixed monthly bill for the next 20 years. Again, installation costs, monitoring, and system maintenance are all included in your pre-determined monthly rate and you do not have to worry about repairs or insurance either.
Most people would agree that solar energy is clean and can help us reduce our reliance on fossil fuels. The data also shows that the solar industry is growing rapidly and substantially reduces carbon emissions - helping us to save the environment and making it easier for private individuals and businesses to enjoy more energy independence. The benefit of solar, however, can be drastically limited if most homes and businesses do not have access to it.
Solar systems can be expensive. Most low- to middle-income working families cannot afford the upfront cost of a solar system and then wait several years to break even before they start to save on their electrical bills.
While leasing is one option, most national solar companies have strict credit and income requirements that preclude many lower-to medium-income families from the savings and benefits provided by solar.
PosiGen CEO Thomas Neyhart believes energy efficiency should not be a luxury, and PosiGen's mission is to bring cost-effective and hassle-free solar energy to all.
Here is how PosGen does it.
Simple Pre-Approvals. Instead of basing installation decisions and approvals on high income, excellent credit scores, or customer savings, PosiGen looks at your historical energy consumption, your electrical spending, and the potential of your home or business to generate the electricity you need.
For example, if you typically spend very little on electricity, it might not make financial sense to install a solar system. Also, if your rooftop is not big enough or does not receive enough sunlight to generate energy (and therefore energy savings) by going solar, then PosiGen will once again let you know that solar is not likely a feasible option for you.
As PosiGen CEO always says, the company does not need to make every dollar, but PosiGen must strive to save its customers every dollar. The only reason PosiGen may decline a client application for a solar system is if the system will not help the client save money on electricity.
Hassle-Free Leasing. If the client's site passes the feasibility assessment, the next step is to sign a lease. Once the client signs a lease, PosiGen takes care of everything else. This includes gathering permits, developing a site-specific system design, and getting all other project documentation for installation and maintenance in order. PosiGen also provides its customers with a first-year savings guarantee and locks in monthly rates for 20 years so that its clients can pay predictable amounts for their electricity and save along the way by selling excess power generation back to the public grid.
Regardless of how good an idea (such as solar) is, it can only generate value and meaningfully help people if it is accessible and has the right on-ramps to bring new customers into the fold. As per the PosiGen CEO, the company's simplified leasing and non-restrictive approval process are helping to bring solar to more and more people across the country.