Do you like solar? Ever wanted to install solar, produce your own power, or invest in renewable energy? If, like me, you answered yes to any of these questions then you should check out Solar Mosaic. This revolutionary company hosts a platform where people from around the world can invest in local clean energy programs.
Solar Mosaic works like this: The company picks a solar project that deserves funding (the most recent project receiving funding is a a nonprofit that provides free meals, job training, and other services to the needy in Oakland, Calif). Money is then collected “from investors who want to see the project succeed. Once the panels are up, St. Vincent de Paul will pay a monthly fee to lease the panels on its roof, providing Solar Mosaic with the cash to pay back its investors — and all the while saving money on its utility bill.” (Grist.com)
This program is most attractive to people who rent and don’t own a suitable place to install solar. It also requires a substantially smaller investment than purchasing an entire solar system so for people like myself who find themselves in both categories, we can still contribute to the clean energy movement by helping solar projects get off the ground. The best part is that your investment will be paid back from the energy savings accumulated over the life of the project.
Check out the Solar Mosaic website for details on projects that have been funded or need funding. As of today, the initial five projects have been completely funded. Over 400 investors and a few organizations have collaborated to invest a total of $350,000! I look forward to being a part of Solar Mosaic as they fund more and more deserving solar projects.