"Crowdfunding" Gives Boost to Renewables in U.S.

Source: Inter Press Service

A U.S. company called Mosaic has unveiled a new way for citizens to use the Internet to invest in specific solar energy projects around the country.

In the style of such websites as Kiva, which raises money for microloans for small businesses in the developing world, Kickstarter, which raises money for creative projects, and 40billion.com, which raises money for entrepreneurs, Mosaic is beginning to empower ordinary citizens to invest in solar energy with a click of a button.

The low minimum investment amount of 25 dollars makes it easier for middle class people and even some working class people to invest. The company brings a 4.5 to 6.5 percent return on investment, which is a good rate in today’s economy.

“Mosaic is an online marketplace for people to invest into high quality solar projects,” Lisa Curtis, communications director for Mosaic, told IPS. “It’s a pretty new phenomenon.”

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Read more: http://www.ipsnews.net/2013/03/crowdfunding-gives-boost-to-renewables-in-u-s/