January 2013 - Solar Mosaic has launched a web platform by which residents of California and New York, or accredited investors, are able to earn a return on their investment in solar development. The offering sold out in just 24 hours, with over 400 investors contributing an average of $700. This round of investment offerings consisted of three solar projects on affordable housing complexes in California totaling 235 kilowatts in solar capacity.
The Solar Mosaic platform makes multiple investments in solar power systems available at affordable minimum investment levels (roughly $25), and promises an average rate of return of 4.5% annually for ten years. Solar Mosaic worked with regulators in California and New York to allow non-accredited investors to participate. The U.S. Securities and Exchange Commission has yet to implement the Jumpstart Our Small Businesses (JOBS) Act, which will make it easier for non-accredited investors in all states to participate in crowdfunding projects.
News Release -
Mosaic Sells Out First Public Solar Projects in Less Than 24 Hours New Online Marketplace for Solar Investments Shows Strong Demand
News Artcile -
Solar Crowdfunding Is Here - Solar Mosaic Launches New Solar Crowdfunding Site
Contact: Lisa Curtis, 510-872-9269