San Francisco, California – January 13, 2015 – San Francisco based nonprofit, RE-volv, launched its thirdcrowdfunding campaign last week for its innovative revolving solar energy fund. The campaign, hosted on popular crowdfunding platform Indiegogo, will finance a 36kW solar energy system for the Other Avenues Food Cooperative in San Francisco's Outer Sunset neighborhood.
"I've been working on this project for eight years, and it's been difficult to find the right fit for financing this solar project," said Other Avenues president Darryl Dea. "So when RE-volv came around it was a perfect fit for us because not only do they work with nonprofits and co-ops, but we're able to contribute to this fund which will further create more solar projects."
RE-volv raises donations through crowdfunding to finance 20 year lease agreements for solar energy projects for community-based organizations. As community organizations pay RE-volv back, RE-volv reinvests the money into additional projects creating a self-sustaining revolving fund called the "Solar Seed Fund." Lease payments from RE-volv's first two projects have reduced the amount RE-volv needs to crowdfund for this project by $7,000.
"Other Avenues has been serving its community for forty years and has developed a tight knit community of supporters. We're thrilled to be offering this community a way to take action on climate change and at the same time help their neighborhood grocery co-op" said RE-volv's Executive Director, Andreas Karelas.
This unique partnership is an example of community based solutions that are leading the climate movement. The campaign draws on the People's Climate March of September 2014, when 400,000 marched, demanding solutions to climate change. Crowdfunding for solar gives people around the world the opportunity to help drive climate solutions by supporting a revolving fund for clean energy in communities.
Other Avenues is a worker-owned cooperative dedicated to workplace democracy and maintaining a healthy planet by serving local, organic foods and sustainable lifestyle products. By going solar, they can further their commitment to sustainability and save $335,000 over the life of the solar system. In under a week, the campaign has already raised over 17% of its $48,000 goal from over 70 people to finance the 36kW system. This project will be RE-volv's largest to date.
RE-volv has received support for its work from the San Francisco Foundation, Audubon's Toyota Together Green, Patagonia, the Rose Foundation, and the Yahoo Employee Foundation. Aveda, KIND Snacks and Whole Foods have all supported the campaign with in-kind support.
Individuals can make tax deductible donations to the campaign atwww.solarseedfund.org.
Founded in 2011, RE-volv, a nonprofit organization, empowers people to finance community-based solar energy projects by donating to a revolving fund. RE-volv raises awareness about solar energy through its community-based solar projects and outreach programs.
About Other Avenues Food Cooperative
Other Avenues is a worker-owned cooperative serving the community since 1974. Located in San Francisco's Outer Sunset neighborhood, the co-op focuses on promoting sustainable lifestyles through the selling of natural, local and organic foods.