Mosaic is a crowdsourcing platform that allows individuals to invest in single solar panel projects on places like schools, churches, retirement homes, etc. The business requests the project be put on the Mosaic site and the cost is listed. Mosaic investors then can contribute from $25 minimums on up to as much as they would like at a return around 4.5% for most projects. The payout can be in 10-20 year terms and the business getting the solar can repay early if they choose.
This is an alternative to renting the solar panels from the solar companies like SolarCity which is a small upfront investment and then you rent the panels from the company. SolarCity reaps the benefits if and when your panels return enough energy to the grid to get a rebate. The consumer takes the lower energy bill and has stability against rising energy rates from the big utilities.
In Mosaic's case, the business is actually purchasing the solar panels. If you were to do this on the open market systems like this could cost in the hundreds of thousands of dollars. This is prohibitively expensive to most small businesses and there are relatively few companies that will do a loan or financing option. With the Mosaic route, you crowdsource the funds, get the panels immediately, and pay back a constant payment much like a mortgage for the life of the loan. Investors get steady cash returns, the business gets panels that drastically lower or eliminate their energy costs, the environment is saved one panel at a time as we burn less and less coal and natural gas producing our power.
So, does anybody want to do this?!?
Mosaic had fully funded their first offered crowdsourcing project in ten minutes. Most projects offered in their first year in California were fully funded within 6 days. It seems that investors LIKE having options to invest their money in sustainable environmentally friendly ways. This is a way to have a direct impact with as little as $25 invested and very low risk.
I love the idea. I hope it takes off and we can use this same system to fund other eco-friendly projects. Crowdsourcing is the way of the future and smart entrepreneurs are finding ways to tap into those funds for positive, game changing ways.
Click HERE to check out Mosaic's website and see if there is a project that is near and dear to heart or even on your street!
Cheers
TJ Franco
