The Oakland, CA start-up will allow everyone to invest in community solar projects using crowdfunding – an online peer-to-peer lending system that allows individuals to invest – as little as $100 - in solar projects in their communities. Investors get paid back and can earn a return from each project’s eventual revenue.
Still in beta-testing, over 400 people invested more than $350,000 to finance five solar plants in Arizona and California, creating 73 kilowatts of solar, saving community organizations $600,000 on utility bills and producing 2,700 job hours for local workers.
Spring Ventures led the investment round, with Serious Change, Jim Sandler, Steve Wolf, Tom Chi, and a group of angels from the “Toniic” investor network participating.
Read our article on Crowdfunding and what it can do for renewable energy: