RE-volv launches Crowdfunding Campaign for Community Solar
Noted author, Bill McKibben promotes a new model for financing solar energy projects
SAN FRANCISCO, December 27, 2012 /3BL Media/ – RE-volv, a nonprofit organization promoting renewable energy, has launched a crowdfunding campaign to finance community-based solar energy projects through a self sustaining revolving fund. RE-volv’s crowdfunding campaign, hosted on Indiegogo and accessible at www.solarseedfund.org, launched Monday 12/10 and has already raised over half of its goal of $10,000. If the goal is met, RE-volv will have enough money to finance the first community-based solar energy project, officially launching the revolving fund.
“The Solar Seed Fund lets us all participate in creating solar abundance in our communities” said RE-volv founder and Executive Director Andreas Karelas. “The majority of Americans support renewable energy, and now we have a tangible way for people to invest in neighborhood solar as part of a collective effort. Together, we’re planting seeds for a renewable energy powered future.”
Bill McKibben, founder of 350.org, sent out a tweet about RE-volv’s efforts calling it “Crowdfunding the solar transition!” and directed his followers to a blog post written by Solar Mosaic to find out more about the organization.
The revolving fund, called the Solar Seed Fund, gives people a way to help finance solar energy projects as part of a community effort that will demonstrate the benefits of solar energy and benefit local organizations. The Solar Seed Fund uses donations to finance solar installations on community-serving organizations such as schools, universities, hospitals, and places of worship. RE-volv recoups the solar installation cost and earns a return on the investment through a 20-year solar lease agreement. The lease payments go back into the Solar Seed Fund allowing the fund to continuously grow, and finance more and more solar installations.
About RE-volv
Founded in 2011, RE-volv, a non-profit organization, builds support for renewable energy by demonstrating its benefits and encouraging wider adoption in the communities it serves. It empowers people to finance community-based solar projects through an innovative revolving fund that uses the proceeds to install more solar capacity. For more information, please visit us at www.re-volv.org.
