Tuesday, March 11, 2014

Crowdfunding to Pay It Forward For Solar Power

Yes! magazine reports:

RE-Volv, a San Francisco-based nonprofit organization, is working to make solar more financially accessible to local community groups. The organization is building a program that allows community centers to make the switch to clean energy with no upfront costs.

Here's how it works: Money donated to RE-Volv by community members and a growing network of solar enthusiasts is used to finance the purchase and installation of solar panels for a community center. Then, instead of paying a power company, the community center makes a monthly payment to RE-Volv. These payments are then rolled back into the revolving fund, providing the seed money for the next solar project. With each new project, RE-Volv increases the size of the fund—making more financing available to facilitate the spread of solar.



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