Friday, December 14, 2012

Solar Crowdfunding in California: Part 1, RE-volv


As the price of solar has plummeted and leases have become more widespread, many more Americans have been able to go solar. But what about the 75% who can’t?

More options are emerging for solar for the rest of us -- including Mosaic’s new online marketplace, which is making it possible for people to invest in community solar projects and earn solid returns.

This three-part series profiles some other startups that are paving the way to spread solar to all.

Just across the bay from Mosaic in San Francisco, three young entrepreneurs are finding new ways to crowdfund solar projects -- and include the 75%. Not content to wait for someone else to do something, they’re taking matters into their own hands, rolling up their sleeves, and making projects happen.

A revolving fund that grows quickly

Andreas Karelas founded RE-volv in 2011. He started the organization, he says, “out of a sense of frustration felt by many of us working for clean energy. The change isn't happening fast enough and if it's going to happen now, we'll have to do it ourselves. There's a huge opportunity here to mobilize people who care about renewable energy to take meaningful action that will help deliver renewables to more and more communities." RE-volv’s mission is to empower people and communities to invest collectively in renewable energy.

What makes RE-volv unique is that they’re using crowdfunding to create a revolving fund for community solar installations. This fund is crucial in supporting the organization’s mission.

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