What happens when you allow everyday folks to chip in small investments towards building clean energy? As Mosaic found, it can be a remarkably successful way to garner start-up money for community-focused solar projects.
Mosaic, an online marketplace that connects investors to solar projects in need of funding, began accepting its first investments on January 7th. Their first three projects were sold out in less than 24 hours, with more than 400 investors putting in between $25 and $30,000. The average investment is $700.
“On Monday, hundreds of people became green energy investors — became literally invested in building a clean energy future,” said Billy Parish, Mosaic’s co-founder and president. “And we got a lot of people investing $25 and that’s amazing.”
A frequently cited hurdle in jump-starting solar energy is the large start-up cost for installing panels. Once installed, however, solar energy can produce quick and attractive returns on investment. Now, with the marketplace created by Mosaic, anyone can help sponsor this forward-thinking solution that makes clean energy financing accessible. The success of Mosaic’s first projects shows, in the words of Parish, that “there’s a lot of pent-up demand” to invest in clean energy.
Read More: AlterNet>>
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About the AuthorEmily is a graduate of St. Mary's College of Maryland with a B.A. in psychology. While in school, she spent her time leading environmental and social justice campaigns. She recently worked for the Chesapeake Climate Action Network as a grassroots organizer for a moratorium on natural gas fracking in Maryland.
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