U.S. Treasury Secretary Janet Yellen delivered remarks to an audience of PosiGen Employees, area official and press on June 30.
On June 30, 2023 PosiGen welcomed the Department of the Treasury and Secretary Janet Yellen to its corporate headquarters in St. Rose, Louisiana.
The Secretary was greeted by PosiGen CEO Benjamin Healey and Executive Chairman, Thomas Neyhart. During the meeting, the group toured the new headquarters office space in St. Rose, approximately 15 miles west of New Orleans’ Central Business District. PosiGen’s corporate office is one of the company’s ten locations nation-wide and is home-base to 600 employees and the crux of the company’s solar energy and energy efficiency operations.
The visit focused on the Inflation Reduction Act and its potential impacts on the markets PosiGen serves, including the New Orleans metropolitan areas’ low- to moderate-income communities and the economic opportunities it is providing to the area. During the tour, Secretary Yellen heard from members of the PosiGen team about our company mission, how we provide our solar and energy efficiency services, and how the Inflation Reduction Act will accelerate our efforts. 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 those 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 Inflation Reduction Act is widespread.
“The IRA provides unprecedented support for households to reduce their energy burden through solar, energy storage, and energy efficiency. This support will allow PosiGen to grow and provide deeper savings for our customers. We are committed to ensuring that no community is left behind in the clean energy transition," added PosiGen’s CEO Benjamin Healey.
In her remarks today, Secretary Yellen addressed the Biden Administration’s investment across the country through the Bipartisan Infrastructure Law, CHIPS and Science Act, and the Inflation Reduction Act. She 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. 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,” remarked Secretary Yellen.
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 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 was instrumental in the development of the Inflation Reduction Act responses and has recently published an address to the Additional Guidance on Low-Income Communities Bonus Credit Program.
