So I’d feel silly not posting about what Matt, Pat and I have been spending tons of hours working on the past few weeks: a business plan we have called CrowdSolar. I’ve had this ideas stuck in my head for the past three years or so and its really needed to come to life. Here is the thought more or less:
Crowdsolar allows the average person to invest in solar while providing building owners with the opportunity to generate electricity from the sun without high up-front costs. CrowdSolar’s vehicle and platform for these investments directly funds solar photovoltaic installations with accredited investors through an easy to use and share online platform.
The most pressing issue that solar energy continues to face is high initial cost. The limited availability of financing opportunities makes going solar unfeasible for many businesses and homeowners. CrowdSolar provides the foundation for a sustainable clean energy catalyst allowing the industry to transition away from government subsidies and artificial incentives, which are set to expire by 2016. More importantly, in the worst economic times of our age investors are searching for alternative investment opportunities and the ability to encourage the development of clean energy in their local communities. CrowdSolar addresses those needs. Crowdsolar aims to change the game in the adoption ability and market penetration of solar energies.
I have forced myself to get it out and on paper, at least the start of it, and am submitting it to a number of entrepreneurship competitions (including the NCET Governor’s Cup, UNR’s Sontag Competition, and CalTech’s FLOW). Please find our boiled down version which we submitted to the Sontag Entrepreneurship Competition today. I welcome your comments, questions, concerns, and collaborative efforts: