Crowdfunding may bring solar energy to non-profitsJanuary 3, 2014
Non-profits have trouble taking advantage of solar programs
Consumers and businesses have been able to take advantage of a growing number of solar energy programs recently. These programs are designed to mitigate the costs associated with the purchase and installation of photovoltaic systems, thereby making them easier to acquire. Non-profit organizations, however, do not typically have access to these programs. Non-profits cannot take advantage of most solar leasing initiatives, power purchase agreements, or financing programs that make the adoption of solar power easier. The solution to this issue may be somewhat straightforward and may take the form of crowdfunding.
Crowdfunding can mitigate the costs associated with solar adoption
Crowdfunding has become a popular concept in the technology and entertainment realms. The idea is quiet simple: Consumers and businesses come together to provide funds for a project they are interested in. Instead of a project being forced to seek out funding from investment firms, the project focuses on the general public to meet its financial needs. This concept has been gaining ground in the renewable energy space recently as more organizations become aware of how much support the public is willing to give to innovative energy projects.
Company taps into the power of the crowd to make solar energy more accessible
CollectiveSun is aiming to make solar energy more accessible to non-profit groups by tapping into the power of crowdfunding. The company works exclusively with non-profit groups that are interested in solar power and claims that these organizations can take advantage of significantly reduced energy costs by working with it. CollectiveSun also notes that it can obtain as much as 5% return on investment through its initiatives concerning non-profit groups.
TERI successfully funds projects through CollectiveSun
CollectiveSun’s first project was successfully funded on December 11, 2013, and was held on behalf of TERI, a non-profit energy policy research organization. TERI intends to use the funds for its solar energy projects, which are meant to bring reliable power to children and adults with special needs. TERI has already approached CollectiveSun for assistance with another of its projects.