The Awareness Group (TAG), a leading innovator in solar and alternative energy financing solutions, has announced highly promising results from the beta testing of its newly launched national residential Power Purchase Agreement (PPA) program.
The beta test, which took place in July and August, resulted in 171 contracts for solar projects signed under the PPA, which generated sales of $12.8 million for TAG. Additionally, these projects were financed through TAG Capital, creating a $10.6 million portfolio of 30-year consumer loan notes, which will generate monthly interest income for TAG over the term of the notes. The projects also generated an Investment Tax Credit (ITC) of $3.8 million, highlighting the financial impact of this innovative solution.
Pablo Diaz, CEO and Founder of TAG, stated: “The results from our beta testing, with only two channel partners, have greatly exceeded our expectations, reinforcing our belief that there is a substantial demand for inclusive solar solutions. Our national residential PPA is designed to open up the renewable energy market to millions of Americans who have traditionally been left out of the transition to solar. This is not just about energy; it’s about providing equity in energy access.
“With the testing period complete and the results overwhelmingly positive, we have begun rolling this program out nationally to the rest of the TAG GRID. We plan to onboard an additional 30+ channel partners in October, quickly bringing scale to this program.”
The national PPA program, which stands apart from traditional financing models by eliminating credit scores as a barrier to solar adoption, marks a pivotal step in TAG’s mission to democratize access to renewable energy.
The TAG GRID, the Company’s comprehensive platform, connects service providers across the solar energy sector. The TAG GRID encompasses sales organizations that bring in residential and commercial projects for funding through TAG Financial, as well as EPC (Engineering, Procurement, and Construction) companies that not only install these solar projects but also source additional deals for financing through TAG Financial.
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