The World's #1 Renewable Energy Network for News, Information, and Companies.

Mosaic to Offer Crowdsourcing Investments in Residential Solar Projects

Mosaic to Offer Crowdsourcing Investments in Residential Solar Projects

Mosaic Inc., the operator of an online financing system that lets individuals invest in commercial solar systems, is expanding into residential projects.

Mosaic agreed to provide financing to Sungage Financial Inc., a Boston-based developer that will loan the funds to Connecticut residents who want rooftop solar systems, according to a statement today. Connecticut’s Clean Energy Finance and Investment Authority, the state’s green bank, is providing an initial $5 million to fund originations.

The arrangement will provide one of the few opportunities for individuals to invest in renewable-energy projects. The 15- year loans are backed by the power systems and may be repaid in part by savings from the owners’ utility bills, said Sylvain Mansier, co-founder and chief financial officer of Sungage.

“The payments can be covered by the asset that they’re purchasing,” he said in an interview. “We can’t really think of another consumer transaction that has this dynamic.”

People who use Mosaic’s system may choose to invest in individual commercial projects or in the pool of funds provided to Sungage. Investors in the residential pool will be offered a roughly 5 percent yield over the 15-year term, according to Mosaic.

The Oakland, California-based company has financed more than $6 million in commercial solarprojects. Hampshire Foundation Inc. has committed to invest $1 million in residential systems through Mosaic.

Copyright 2014 Bloomberg

Lead image: Money tree via Shutterstock

CURRENT MAGAZINE ISSUE

03/01/2015
Volume 18, Issue 3
file

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

FEATURED PARTNERS



EVENTS

EU PVSEC 2015 (European PV Solar Energy Conference and Exhibition)

The EU PVSEC is the largest international Conference for Photovoltaic re...

CA Wine Industry's 2015 Solar Update- WEBINAR

Proceeds from event registration will go to the CA Sustainable Win...

Energy Security: Opportunity Power with the Sunny Boy Secure Power ...

Wouldn’t it be great to have a grid-tied inverter that could still...

COMPANY BLOGS

EU PVSEC 2014 extends its Scope

Added focus on application and policy topicsAbstracts for conference con...

EU PVSEC 2014: Call for Papers Receives Great Response

More than 1,500 contributions apply for presentation in AmsterdamScienti...

How GreenLancer Streamlines the Solar Design Process

Post originally appeared on the GreenLancer Blog by Ardelia Lee Cr...

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS