Distributed Sun and Mosaic Partner to Crowdsource Investments in School Solar Project Enables Individuals to Support Solar on Schools While Earning 5.4% Annually
FEDERAL HEIGHTS, CO (July 11, 2013) Distributed Sun LLC (D-Sun), an enterprise level solar project development, finance and advisory services platform serving the Fortune 500, and Mosaic, an online marketplace that connects investors to high-quality solar projects, today announced their first joint project to allow individuals to invest in a 657 kW solar installation on a charter school in Colorado and earn an estimated 5.4% annually.
Mosaic plans to leverage Distributed Sun’s leading solar development platform, the Distributed Solar Network™, to scale its crowdsourced financing model. Mosaic is pleased to work with D-SUN’s network of more than 115 solar installers in 28 states developing more than 120 MW of projects per month.
“We are honored to partner with Pinnacle Charter School and Mosaic to commission this installation in Colorado, a vibrant solar market,” says Chase Weir, CEO of D-Sun. “It’s a real honor to provide a service that creates jobs, delivers substantial savings to our partners, teaches students about clean energy and is beneficial for the environment.”
“Mosaic is thrilled to partner with D-Sun and open up more of these types of good investment opportunities to the public,” said Dan Rosen, CEO of Mosaic. “As we go forward together as partners under the truSolar™ initiative, an emerging standard for assessing solar project risk, we look forward to announcing deeper collaborations with D-Sun in the months ahead.”
The 657 kW solar system powers one of the largest public charter schools in Colorado while serving as an educational tool for over 2,000 students. The Pinnacle Charter School has served Northern Denver’s diverse community for nearly two decades with committed teachers and data-driven instruction. The solar project generates revenue by selling the electricity produced to the school and by selling the associated renewable energy credits to the local utility. Pinnacle’s solar project could save the school as much as $1.6 million in electricity costs over the lifetime of the project while teaching thousands of K-12 students about clean energy.
Mosaic is an online marketplace that connects investors to high-quality solar projects. Mosaic’s mission is to open up clean energy investing to the public and fundamentally change the way energy is financed. To date, Mosaic has raised $3M from more than 1,800 investors to finance solar projects in California, Arizona, Florida and New Jersey. For more information about Mosaic visit www.joinmosaic.com.
ABOUT DISTRIBUTED SUN
D-Sun is a nationally recognized solar and micro-grid project development and finance services platform serving the commercial and industrial market segments. D-Sun develops, finances, constructs, owns and operates commercial scale solar energy systems throughout the United States. D-Sun represents capital sources seeking to deploy over $1B of project finance in the commercial & industrial sector over the course of 2013 and 2014. For more information visit www.distributedsun.com.
The Pinnacle Charter School is one of Colorado’s largest K-12 charter schools proudly serving North Denver’s diverse community. Pinnacle provides academic excellence through highly qualified teachers, data-driven instruction, and the application of Core Knowledge to enhance Colorado academic standards. For more information about Pinnacle visit www.thepinnacleweb.org.
ABOUT truSolar™ – truSolar™ is an industry-driven, accessible standard credit screen for commercial and industrial photovoltaic project screening, underwriting and approval via a comprehensive assessment of risk to enable broader access to lower cost capital. For more information about truSolar™ and the truSolar™ Working Group visit www.trusolarscore.com.——–