Generac selected to negotiate its proposal to
provide low-income single-family households with solar PV and
battery storage
WAUKESHA, Wis., Nov. 7, 2023
/PRNewswire/ -- Generac Power Systems, Inc., (NYSE: GNRC) a
leading global designer and manufacturer of energy technology
solutions and other power products, announced the company has been
selected by the U.S. Department of Energy (DOE) as one of several
qualified vendors to enter award negotiations as part of an up
to $440 million investment from the
Puerto Rico Energy Resilience Fund. This funding will support
residential solar and battery storage systems for up to 40,000
vulnerable Puerto Rican households with installations to
potentially start in the spring of 2024.
This announcement marks a critical milestone in providing
reliable electricity to Puerto
Rico's most vulnerable residents and the first round of
selections from the 2023 PR-ERF Funding Opportunity Announcement.
The project will deploy rooftop solar PV and battery storage
systems to the homes of eligible residents to both help increase
their energy resilience and decrease their energy burden. Generac
and its project partners in Puerto
Rico will help provide clean energy to vulnerable low-income
households including those in areas where an individual with an
energy-dependent disability resides or those located in low-income
areas that experience frequent and prolonged power outages. These
installations can help improve household energy resilience for
thousands of residents. This funding will also support clean energy
jobs and help Puerto Rico achieve
its renewable energy goals.
"Generac has been a trusted provider of resiliency backup power
since 1959 and we are honored to be a part of this important
Department of Energy program to provide Puerto Rico's most vulnerable communities with
access to our clean energy sources," said Aaron Jagdfeld, president and chief executive
officer of Generac. "As the island continues to grapple
with extreme weather events and aging energy infrastructure,
Generac's solar + battery storage solutions will help keep the
power on, while also helping to support job growth within the clean
energy sector."
Generac will be working with local partners to support the
program, including:
- PosiGen, one of the nation's leading residential solar and
energy efficiency providers for low-to-moderate income homeowners.
PosiGen's Partner Program, which helps value-aligned partners offer
PosiGen's lease product, has helped homeowners go solar since its
inception in 2021. PosiGen stays true to its mission to make solar
energy affordable for homeowners of different income levels, while
helping customers achieve greater fiscal autonomy and energy
independence through lower utility bills.
www.posigen.com
- FR-BLDM, a leading locally- and minority-owned construction
company will lead installations, working with other local, small,
family-owned businesses in Puerto
Rico.
- Juapi Energy, the premiere PWRcell partner and Generac Service
Dealer in Puerto Rico will provide
an extra layer of service support to residents.
- The Interstate Renewable Energy Council (IREC), a clean energy
non-profit established in 1982 and PathStone, a nonprofit
organization providing community development and humanitarian
services in Puerto Rico since 1998
will help lead workforce development efforts that focus on
providing jobs for residents from vulnerable households in
Puerto Rico including last mile
communities.
- Additionally, IREC will coordinate additional local
non-profit organizations to serve as liaisons between Solar
Ambassadors, installers, and eligible recipients.
For more information, visit the Grid Deployment Office
website.
About Generac
Generac Power Systems, Inc. (NYSE: GNRC)
is a leading energy technology company that provides advanced power
grid software solutions, backup and prime power systems for home
and industrial applications, solar + battery storage solutions,
virtual power plant platforms and engine- and battery-powered tools
and equipment. Founded in 1959, Generac introduced the first
affordable backup generator and later created the category of
automatic home standby generator. The company is committed to
sustainable, cleaner energy products poised to revolutionize the
21st century electrical grid.
Media Contact: Stephanie
Rodgers
Stephanie.Rodgers@Generac.com
Phone: 262.544.4811 Ext. 4456
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SOURCE Generac Power Systems, Inc.