Mosaic, an online marketplace that connects investors to solar energy projects, is tackling more and more ambitious projects. Recently, it started the Golden State Series, a string of solar investments that will total $100 million. The first project, seeking a investment $153,000 in a solar charity in San Diego, sold out in just six hours.
Now, Mosaic is launching its largest project to date with $700,000 available for investment for a 487 kW solar project on the roof of Wildwoods Convention Center in New Jersey. The well-attended convention center hopes that this project will provide 24% of its electricity and reduce emissions by 179 tons annually, equal to 387,500 vehicle miles not traveled.
“We want to give people the opportunity to do good and do well at the same time. Investing in real, tangible solar projects that generate electricity, is a great way to do that,” said Mosaic CEO and founder Dan Rosen.
Mosaic hopes to continue to build off of its recent success in January when it launched its first return-on-investment solar projects and all three sold out in less than 24 hours with over $300,000 invested. Since then, Mosaic has partnered with Standard & Poor’s, DuPont and Distributed Sun, among others, as a part of the truSolar Working Group to standardize risk assessment and develop a scoring system for each solar project.
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Mosaic acts as an accessible way to get involved with what many larger companies are starting to achieve. General Motors, Honda and Google have all recently made substantial solar investments as this energy option becomes more and more attractive.