(Newswire.net — October 13, 2021) —
In 2011, Thomas Neyhart looked at the state of the country after Hurricane Katrina and knew that something had to be done to help lower-to-middle income families searching for alternative sources to power. The CEO of Posigen decided to provide an effective method for providing a power solution and creating multiple benefits for the community simultaneously. In this article, we will be discussing the inspiration behind Thomas Neyart’s move to start Posigen and the effect that the organization has had on the community and energy solutions.
The former UTICA COO decided that PosiGen would be his new passion and has changed the energy sector in several ways. To better understand the role Thomas Neyhast has played in providing energy-efficient solutions to communities it is important to first understand what it is exactly that PosiGen does.
What is PosiGen?
PosiGen was created to provide an energy solution for homeowners who wished to rebuild their homes with renewable power sources. Thomas Neyhart quickly noticed that at the time, there was no structure that allowed less affluent people to have access to renewable energy. The company was built to provide energy solutions and impact communities positively. In the last ten years, PosiGen under the leadership of Thomas Neyhart has installed 18,000 systems.
The majority of these installations have been done in low-income areas. At its headquarters in New Orleans, PosiGen has been able to hire over 300 employees and support 120 others. PosiGen offers a unique energy solution to its clients. While most solar companies only offer solar solutions, PosiGen offers more by providing energy efficiency solutions in homes.
The company maintains its product integrity by providing demonstrations and agreements in addition to end-to-end installations by expert teams. By adopting this approach PosiGen ensures that their customer understands exactly what is being implemented in their homes. In an interview, the CEO was asked one thing that he believed was true which nobody agreed with him and he said this;
“Very few people outside of PosiGen believe that LMI families pay their bills. However, if you provide a good service and they see the value, these families pay as well or better than more affluent families.”
By focusing on low to middle-income customers, Posigen has found the perfect balance between making a profit and helping communities. Unlike many other operators, PosiGen does not require potential clients to have a good FICO score. This also applies to debt to income ratios and all other similar structures which may exclude any demographic on financial grounds. PosiGen simple requires customers to have current electricity bills. The company has created a payment plan involving a fixed monthly bill that spans the entire 20 years of installation. The fixed monthly bill has no escalators. The entire structure of PosiGen is focused on ensuring that clients save money through the company. The combination of an energy efficiency package and a solar offering makes all the difference, especially for low-income families.
Thomas Neyhart’s Strategy
The growth and development of PosiGen can be credited to the innovative strategies that Thomas Neyhart has applied in business. One of the most innovative strategies that CEO Thomas Neyhart has applied to PosiGen operations is the method of determining eligibility. The norm among energy providers is to consider factors like credit rating before deciding who to supply with power. These requirements are used to hedge against potential loss situations where clients may be unable to pay for energy. PosiGen does not look at things that way, however. Under the leadership of Thomas Neyhart, PosiGen has shifted the focus from credit scores to potential savings.
This new strategy adopted by Thomas Neyhart only requires engineers to find out the historical energy consumption of potential clients, rooftops space, to measure capability in terms of energy production., and energy spending. Once these three factors are considered, the company can then determine the eligibility of the client. According to Thomas Neyhart, Posigen does not need to make every dollar but it must strive to save its customers money. The brilliant strategy of PosiGen does not stop at its technology or its financing.
Thomas Neyhart has found a seamless way, to fully educate PosiGen clients about the company and its products. The company ensures that clients are walked through the entire process of installation. The company also educates clients about the benefits of solar energy. By showing the process of installation and talking to their clients about the benefits of the installation and solar energy in general, PosiGen is able to explore the benefits of word-of-mouth marketing. The educational approach that Thomas Neyhart has laid out for PosiGen is also able to instill confidence in Solar power as a dependable energy solution.
The PosiGen Customer Approach
One of the most important pain points that PosiGen explored with their customer is the difference between being on the traditional energy grid versus using solar power. Traditional energy providers calculate the number of Kilowatts that are used during a particular period of time and multiply that number by the price-per-kilowatt. Traditional utility grids also incorporate the cost of service, delivery, and maintenance into bulls. On the other hand, PosiGen explains to potential customers that solar homes consume and produce energy. Solar homes use net metering to calculate the total number of kilowatts that are used in the home. The home-produced solar energy is subtracted from the total number of kilowatts used. Energy use usually varies from month to month, In the months where the energy use is lower, the excess supply is sent to the grid for free electricity in the future.
From a Business Perspective
Thomas Neyhart quickly realized that there was an opportunity for solar power to be a major source of renewable energy. To better understand the potential Thomas Neyhart saw, it is essential to consider a report made by the Energy Information Administration (EIA). The report shows that energy efficiency saw a higher percentage of growth than any other industry. The report also indicated that energy investments yielded strong returns to investors. The investments made in the energy sector increased by over 7.3% and were enough to power about 2.5 million US homes each year.
Diversity Policies
Thomas Neyhart’s Diversity policies are a major part of what makes the company special. To ensure that the community benefits from PosiGen, the company ensures that it works with members of the communities that it serves. The company also makes special efforts to ensure that all demographics are included in the work that is done. Over 65% of PosiGen employees are women and people of color. By ensuring that a good number of social demographics are included in the employment process, Posigen indirectly contributes to the diversity in the energy sector. These conscious policies that have been initiated by the CEO of PosiGen make the company an asset to society and to the renewable energy sector.
Thomas Neyhart’s Leadership
Thomas Neyhart has been recognized as a key leader in the clean energy sector. In 2014 Thomas Neyhart was named one of Goldman Sachs’ Most Intriguing Entrepreneurs. The CEO has successfully started and maintained several businesses in different industries. Under the leadership of Mr. Neyhart, Posigen has been named the fastest-growing energy company in America in 2014. PosiGen continues to make a difference in communities all over America while revolutionizing the renewable energy sector.