Mosaic Launches New Way to Invest in Solar And Earn Solid Returns
OAKLAND, Calif., Jan. 7, 2013 /PRNewswire/ — Today marks the beginning of a new, transparent and democratic way of financing clean energy through crowdfunding that could disrupt the two largest industries in the world: energy and finance. Mosaic, an online marketplace that connects investors to high-quality solar projects, has begun offering investments to residents of California and New York as well as accredited investors from around the country. For the first time ever, the American public will be able to invest directly into clean energy projects and receive a solid return.
Mosaic’s first investment offerings for New York and California residents are in solar projects on affordable housing apartments for low-income residents in California and offer a 4.5% annual return, net of servicing fees, with terms of approximately nine years. With 10 year Treasuries at near historic lows (1.90%), CDs at 0.5% APY, bonds averaging 5.20% from 2003-2012 and stocks in the S&P 500 averaging 4.95% annualized returns from 2003-2012, Mosaic’s expected yields are competitive with the best investment products on the market.
“Energy investing has traditionally been a bank only game, but already, hundreds of people from across the United States have invested to finance solar projects through Mosaic. We expect millions more to follow,” said Dan Rosen, Mosaic’s CEO.
“The transition to clean energy represents one of the greatest opportunities for wealth creation of our time. We created Mosaic to accelerate that transition by enabling more people to participate in it and to profit from it,” said Mosaic’s President Billy Parish.
To date, $1.1 million has been invested through Mosaic by more than 400 investors to finance twelve rooftop solar power plants in California, New Jersey, Arizona and the Navajo Nation. Though the SEC has not yet adopted rules implementing the crowdfunding provisions of the JOBS Act, Mosaic is pursuing other avenues for crowdfunding clean energy ahead of the adoption of final rules.