Lori Zimmer

Solar Mosaic Funds 3 Renewable Energy Projects in 1 Day Through Crowd Funding

by , 01/11/13

green design, eco design, sustainable design, Solar Mosaic, Crowdfunding, crowdfunded solar project, solar roof projectsSolar Panel photo from Shutterstock

Solar Mosaic has proven that the people want renewable energy – the startup company just funded three new projects in one day via crowd funding! Through a crowd funding campaign that began on Monday, the new company offered New York and California residents a chance to support a project that would install solar panel roofs in three affordable housing complexes in California.  The people have spoken – in just one day, 400 investors doled out $313,000 through the crowd funding campaign.

green design, eco design, sustainable design, Solar Mosaic, Crowdfunding, crowdfunded solar project, solar roof projectsPhoto via Wikimedia Commons

Most crowd funding campaigns reward donors with one-time incentives, such as a product or service. But Solar Mosaic’s campaign is much more rewarding than that for its investors. The completed solar panel projects will generate revenue as utilities within the three building complexes. Owners of each building will sign a twenty year contract with Solar Mosaic, who will charge a lower than standard electric utility fee each month.

Whether donating $25 or $30,000, investors will receive a 4.5 percent annual return over a nine-year term. The initial start-up money will go to installing the panels in three areas of California – Corte Madera, Salinas and San Bruno. Each month, investors are paid their incentive percentage with money collected from tenants’ monthly electric bill.

Solar Mosaic also has projects funded by accredited investors (which were also allowed to invest in the campaign). The company has thus far raised $1.1 million for solar roof projects from private investors for installation of projects, as well as $2.5 million from venture funding for company operations. In little time, the startup is proving to be a successful private renewable energy utility company.

+ Solar Mosaic

Via GigaOM

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1 Comment

  1. Minwoo Kim January 17, 2013 at 4:26 am

    Obama’s energy policy is right. The world goes solar. Japan’s FiT in July is among the highest in the world. Japan’s FiT is shaking the solar market. Now, USA has the same options. New solutions will be showed in Japan. This is it!

    As you know, earthquake in Japan is happening frequently. Floating solar panels installation is one of the best solutions for power crisis in Japan. Every year Some typhoons arrive Japan. The typhoon has strong wind. Floating solar power generation system must have constructed to resist typhoons. So you have to reduce vibration to install floating solar power generation system. Because, it can make micro-cracks to floating solar panels and the durability problem of floating solar power generation system. The risk of power loss in PV modules due to micro cracks is increasing.

    Vibrations caused by wind, waves and external forces. New Floating Body Stabilizer for Floating solar panels installation has been created in South Korea. The Floating Body Stabilizers generate drag force immediately when Floating solar panels are being rolled, pitched and yawed on the water. Recently, these Floating Body Stabilizers have been used to reduce vibration of Floating Solar Panels in South Korea. You can watch New Floating Body Stabilizer videos on YouTube. http://youtu.be/O2oys_YHhCc, http://www.youtube.com/watch?v=nA_xFp5ktbU&feature=youtu.be.

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