By Brentin Mock
The headquarters of the solar-energy company Sustainable Environmental Enterprises is a green oddity in this rough part of New Orleans’ Central City neighborhood. The butterfly-winged roof and lopsided, Lego building design, complete with a money green paint job, fits anything but neatly in this residential neighborhood where run-down shotgun-style houses are strewn amidst blighted properties.
Economic development and political power may have overlooked this community in favor of tourist magnets like the French Quarter, but SEE CEO Lea Keal, 32, and board chairman Stacey Danner, 37, see only opportunity in helping develop this community and others like it by providing access to solar power.
SEE provides financing to low-income residents to lease and eventually purchase solar energy equipment that is otherwise cost-prohibitive. Though they're getting cheaper, solar panels and mounts can still cost as much as $25,000, and that’s before you get to installation and maintenance. For that price, you’re not going to find too many solar customers in a city like New Orleans, where there are almost as many households with incomes below $75,000 (76 percent, according to 2010 Census figures) as homes that were submerged below floodlines after Katrina (80 percent).
Only a small percentage of wealthy families can afford to buy or get a loan for solar. “Before this, people needed either equity in their homes or sparkling credit to get solar,” says Darren Davis, 53, SEE's executive director of business development. Thanks in part to a $1 million loan from California-based Adam Capital this past fall, SEE is changing that equation.
Homeowners using solar power reap huge savings from cheap, clean energy—savings that poor families desperately need. “It’s expensive to be poor, and nowhere is that truer than in energy,” says John Moore, a former energy policy analyst under Mayor Ray Nagin who now does consulting work for SEE. “[If you are poor], you likely live in an energy-inefficient home, and your energy bills are higher than normal.” READ MORE >>
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