RE-volv launches Crowdfunding Campaign for Community Solar
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.
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.