Banking on the sun, a community investing in sustainable energy
February 8, 2013
Banking on the Sun is perhaps one of the finest lines I have read recently, which I found tucked away in the Mercury News – which is not a planet. So ‘Oakland Solar financing startup Mosaic crowd sources installations’ is the headline – for $25 one can become part of a ‘community’ (many hands light work) to invest in an innovative and sustainable production of electricity. Participatory Cultures + tools.
You invest a minimum of $25 and there will be a return on those hard won, hard earn’t greenbacks. It wont make you A: Warren Buffet, A Donald Trump, or even A Richard Branson, nor sadly a Rupert Murdoch (but who would want to walk with the Dark Lord) or a mogul like Liberty’s John Malone, but it might pay for a new car, kitchen, holiday, physiotherapy, AND perhaps more importantly give one control over the second or first most important aspect of ones life: energy and then money. And a sense of community.
In total Mosaic has raised $1million – its chicken shit for energy companies. But its not in terms of an alternative model actually working it is a big deal. All great disruptions come from the edge and not the centre, and according to Mosaic,
The projects offer investors a 4.5 percent annual return, net of servicing fees, with terms of about nine years. Those returns are competitive compared to other avenues the public might invest in. For example, 10-year Treasuries are a 1.90 percent, CD are 0.5 percent APY, bonds average 5.2 percent from 2003 to 2012 and stocks in the S&P 500 averaging 4.95 percent annualized returns from 2003 to 2012.
There is a saying that when institutions fail, people learn to get what they need form each other. Mosaic it looks like are part of the movement to make that happen. Mosiac say create solar energy together, or in other words, faster alone but further together. Mosiac have called out to people that may wish to join them on their quest – if that works for you click here
Further reading: if you feel the need