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Buildings 425 Kw NM solar park funded by CrowdSun.com

Published on May 2nd, 2014 | by Sandy Dechert

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Here Comes The (Third) Solar Crowdfund: CrowdSun

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May 2nd, 2014 by
 
425 Kw NM solar park funded by CrowdSun.comMove over, Mosaic and SunFunder. There’s a new solar crowdfunding website in town—Crowdsun.com.

The third online investment platform for financing solar projects bills itself as “Your solution to safe, green funding.” CrowdSun has already funded over $2 million across 11 campaigns, two of which have hit the 100% mark so far. The company’s first project reportedly raised $300,000 in three days. From the company President & CEO, Mark Yegge:

“Most investors in solar projects are the big-money institutions, and they are privy to stable solar investments that can earn anywhere from 4% to 20% annually—until now. Smaller investors can now take advantage of the shift to green solar energy through our crowdfunding site.”

According to PV Tech, like Mosaic (which had received over $5.6 million from more than 2,500 investors by November 2013), Crowdsun.com claims to offer careful project review and interest on investments at a higher rate than currently offered by banks. (Projected annual rates of return for solar crowdfund investors typically run between about 4.5% and 10%.)

Both companies have so far limited their business to solar investment in US projects. Sunfunder, which is not approved by the US Securities and Exchange Commission, funds solar projects outside the US. Sunfunder can accept investments all over the world, but cannot return interest.

Yegge has been involved in groundbreaking businesses since cofounding and nurturing NexTrade Holdings. NexTrade operates one of nine SEC-approved Electronic Communications Networks on Wall Street and has been one of the top 50 fastest growing companies in the US. The CEO’s involvement in solar started in 2008 with the founding of NextWave Solar, Inc., a Florida-based solar firm specializing in solar electric systems design and installation. Yegge has twice been nominated for Ernst & Young’s Entrepreneur Of The Year, the world’s most prestigious business award for entrepreneurs.

Encounter Yegge at a TEDx Talk posted several years ago on YouTube (above) about executing ideas, the false paradigm that limits most people’s success, and how to overcome it. Also, for perspective on the new startup investment tool—which has more than tripled in the last three years—see Crowdsun.com’s fascinating recent blog (March 24, 2014) on grassroots funding called “Before You Launch Your Crowdfunding Campaign, Read This.”

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covers environmental, health, renewable and conventional energy, and climate change news. She's worked for groundbreaking environmental consultants and a Fortune 100 health care firm, writes two top-level blogs on Examiner.com, ranked #2 on ONPP's 2011 Top 50 blogs on Women's Health, and attributes her modest success to an "indelible habit of poking around to satisfy my own curiosity."



  • Cindy Nawilis

    Actually, some accredited and institutional investors are able to earn a return on their investments with SunFunder through our Solar Empowerment Fund notes issuance. Please check http://sunfunder.com/about/investors for more information. Thanks Sandy! Happy to see more solar crowdfunding initiatives starting up and joining the movement.

    Cindy Nawilis
    Community & Operations Lead, SunFunder

    • Matt

      Cindy, the issue as not be the lack of opportunity for accredited and institutional investors to find options. It is the other 98%, some (many?) whom have funds they would invest in green; but are locked out but current rules.
      Yes I have money in SunFunder, but its a zero interest loan. Yes its a feel good. But not making anything toward my retirement. Hoping to retire, before I die.

  • Matt

    Oh wonderful this one only takes accredited investors. At least Mosic has a couple states where if you are not in the top couple % (200k/year) you can invest. Need so way to let 50% of people in on this without a company spending $100s K per year per state.

    U.S. Securities and Exchange Commision defines an accredited investor as the following: a natural person who has an individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase, excluding the value of the primary residence of such person;
    a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year;

    • Matt

      Click thru and you notice these projects:
      Two fully fund
      One project placed on hold by developer
      One open with no info

      Seven that are not open and have no info

    • JimBouton

      Matt,

      Mosaic has recently discontinued accepting investments from accredited investors. They are now only taking investors from states in which the projects are occurring. Mainly California.

      Even accredited investors (I am one for Mosaic) are no longer being offered any new investments. The unofficial explanation that have been given is that they don’t want to hassle with the “paperwork” every quarter to prove the investor is still accredited.

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