Environmentalist and entrepreneur Billy Parish is building a marketplace for investors and community members alike to provide loans for solar installations. Users can make money back on the investment, as opposed to fundraising on other crowdfunding platforms.
The site, named Mosaic, launched in January and already has $4 million in capital and several thousand clients. It makes money by collecting a fee on loans for the solar projects. Supporters of Mosaic say that investors under 35 generally screen investments for social value, and are therefore enthusiastic for solar communities. Billy Parish believes that capitalism can be used to create a flourishing marketplace for clean energy with the right momentum and structure.